CSE records first weekly net foreign inflow for the year

Sri Lanka, Jan 26 (Capital Leads) – Despite witnessing a marginal decline over the week, the Colombo Stock Exchange (CSE) this week recorded the first weekly net foreign inflow for the year as foreign investor interest focused on Central Finance (CFIN).

Dipping 9.77 points over the week, the broad-market All Share Price Index (ASPI) closed at 5,978.30 points, 0.16 percent lower than the week before, while more liquid S&P SL20 Index shed 20.06 points to reach 3,046.23 points, a loss of 0.65 percent from the previous week.

The weekly turnover slumped to LKR2.3 bn (USD13.2 mn), a decline of nearly a third from the week before, as turnover for the year so far stood at LKR9.7 bn (USD53.2 mn).  With almost a quarter of turnover contributed from off-board transactions, the number of shares transacted improved to 57.5 mn shares this week.

The shares of John Keells Holdings (JKH) closed firm over the week as the stock made the highest weekly turnover contribution of 33 percent followed by 18 percent from Central Finance (CFIN) which ended 2.2 percent higher during the week.

Furthermore, the Diversified sector spearheaded the sector-wise contribution with 43 percent, ahead of the Banks, Finance and Insurance stocks which made up 39 percent.

The market witnessed the first weekly foreign inflow for the year this week as foreign outflow from blue-chip stocks, John Keells Holdings (JKH) and Hemas Holdings (HHL) was outweighed by net foreign inflow from Central Finance (CFIN). With a weekly net foreign inflow of LKR280.4 mn (USD1.5 mn), the YTD foreign outflow narrowed to LKR2.1 bn (USD11.4 mn).

Disclosure: I/We have no investments in the stocks mentioned in the above article and don’t intend to open any within the next 72 hours. I wrote this article for myself, and it expresses my opinion. I/We receive no compensation, nor do I/We have any business relationship with any companies whose stocks are mentioned in the article.

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