Sri Lankan Shares edge down despite continuing foreign investor interest
Sri Lanka, Aug 10 (Insights Equity) – Sri Lankan shares ended two consecutive sessions of gains on Friday, as both indices recorded losses despite continuing foreign investor interest.
Broad market All Share Price Index ended 0.23 percent lower to close the day at 6141.55 points while more liquid S&P SL 20 index declined by 0.48 percent to end at 3316.47 points.
Market turnover stood at LKR432.0 mn (USD2.7 mn), well-below the year-to-date daily average turnover of LKR843.8 mn (USD5.3 mn). With a contribution of 33 percent, John Keels dominated the daily turnover generation as the stock witnessed the only two crossings recorded for the day which made up 19 percent of the day’s total turnover.
However, foreigners were net buyers for the third consecutive session as they bought shares worth LKR101.5 mn (USD0.6 mn) extending the year-to-date net foreign outflow to LKR2.9 bn (USD17.9 mn).
Diversified sector led the turnover generation having contributed 38 percent of day’s turnover while Vidullanka and ACL Cables were amongst the top gainers in the market.
Reporting by: Dulan Lokuwithana