Sri Lanka, Oct 15 (Capital Leads) – Main stock index of the Colombo Stock Exchange (CSE) declined below 5,800 level today as the turnover reached its highest in more than two months, backed by a block trade in Singer Sri Lanka (SINS).
ASPI continues to decline: The broad market All Share Price Index (ASPI) shedding 40.66 points, declined for the fifth straight session today to close at 5,774.37 points, 0.7 percent lower than the previous day while more liquid S&P SL20 Index dipped 37.55 points to stand at 2,909.08 points, 1.27 percent weaker than Friday.
Market records the highest turnover in more than two months: The daily turnover reached LKR2.0 bn (USD11.7 mn), its highest since August 07, 2018 and more than twice the year-to-date average annual turnover of LKR771.4 mn (USD4.6 mn), with off-board transactions involving two crossings making up 86 percent of total turnover,
The total number of shares transacted reached 42.2 mn shares driven by a block trade in SINS where 35.6 mn shares owned by Retail Holdings (Sri Lanka) BV, a subsidiary of Retail Holdings NV and formerly the main shareholder of SINS, sold off-board at LKR47.0 to Hayleys PLC, the controlling shareholder currently.
Year-to-date net foreign outflow exceeds LKR8 bn: Led by the local interest in SINS, today’s net foreign outflow reached LKR1.7 bn (USD10.1 mn), expanding the year-to-date net foreign outflow to LKR8.6 bn (USD51.0 mn).
SINS makes up more than 80 percent of turnover: Gaining 4.7 percent during the day, SINS spearheaded the daily turnover contribution with 84 percent while John Keells Holdings and Sampath Bank, led by foreign selling, contributed 4 percent each, gaining 1.6 percent and 2.7 percent in value respectively.
The sector of trading made the highest sector-wise contribution to the turnover with 84 percent followed by banks, finance and insurance stocks which made up 7 percent.
Furthermore, Singer Sri Lanka and Commercial Leasing & Finance were among the highest gainers in the market today while Amana Bank and Expolanka Holdings were two of the most actively traded counters of the day.