CSE ends winning streak as Hemas falls sharply

Sri Lanka, Apr 05 (Capital Leads) – Six consecutive sessions of gains in the Colombo Stock Exchange ended today as both indices fell amid sharp losses in Hemas Holdings (HHL).

The broad market All Share Price Index (ASPI) dropped 32.07 points to stand at 5,621.36 points, a loss of 0.57 percent from the previous session. More liquid S&P SL20 Index meanwhile lost 14.59 points to reach 2,742.47 points with a decline of 0.53 percent from yesterday.

With no off-board transactions, the total number of shares traded stood at 6.2 mn, well below the YTD average daily share volume of 15.7 mn. The daily market turnover meanwhile contracted to LKR220.0 mn (USD1.3 mn), nearly two thirds below the YTD average daily turnover of LKR632.3 mn (USD3.6 mn).  

Falling 1.17 percent in value, Hatton National Bank (HNB) contributed 41 percent to the day’s turnover followed by 28 percent from Hemas Holdings (HHL) which amid local selling dipped 4.84 percent in value.

Generating 48 percent of the day’s turnover, the sector of Banks, Finance and Insurance spearheaded the sectoral contribution to the turnover ahead of 38 percent from Diversified Holdings.

Today, net foreign selling in the market narrowed to LKR7.3 mn (USD42 k) while YTD net foreign selling stood at LKR5.7 bn (USD32.9 mn).

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