CSE slides for second straight session as turnover crosses LKR 4bn

Sri Lanka, Nov 05 (Capital Leads) – Posting more than LKR4 bn of turnover, the Colombo Stock Exchange (CSE) edged down today for the second consecutive session as John Keells Holdings (JKH) making up over 86 percent of turnover witnessed heavy foreign selling.

Both indices end in negative territory: The broad market All Share Price Index (ASPI) dipped 30.12 points to close the session at 6,062.09 points, 0.49 percent lower than the previous session while more liquid S&P SL20 Index, shedding 17.85 points, ended 0.56 percent weaker to close the session at 3,190.58 points.

On-board transactions dominate trading: With 35.7 mn shares changing hands, the market turnover reached LKR4.1 bn (USD23.7 mn), more than five times the year-to-date average daily turnover of LKR814.4 mn (USD4.7 mn), as on-board trades generated 95 percent of turnover.

Net foreign outflow exceeds LKR3 bn; YTD net foreign selling nears LKR17 bn: Amid sizable foreign selling in JKH, the daily net foreign outflow reached LKR3.2 bn (USD18.1 mn) while year-to-date net foreign outflow stood at LKR16.8 bn (USD96.4 mn).

JKH contributes 86 percent of turnover; dips 0.7 percent: JKH falling 0.66 percent in value spearheaded the turnover generation with 86 percent while Sampath Bank, with a 2.1 percent decline driven by local selling, followed up with 7.9 percent.

Meanwhile, diversified holdings led the sector-wise contribution with 87 percent to the turnover and fell 0.10 percent in value.

Furthermore, SMB Leasing and Tess Agro were among the top gainers of the market today while, Nation Lanka Finance and Dialog Axiata were two of the most actively traded counters of the day.

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