Sri Lankan Shares edge down for the second straight session amid foreign investor interest
Sri Lanka, Aug 13 (Insights Equity) – Sri Lankan shares ended lower for the second consecutive session as daily turnover slumped to the lowest in almost a week.
Broad market All Share Price Index ended 0.21 percent lower to close the day at 6128.82 points while more liquid S&P SL 20 index declined by 0.43 percent to end at 3302.19 points.
Market turnover, a 44 percent dip from the level seen on last Friday, stood at LKR242.2 mn (USD1.5 mn), well-below the year-to-date daily average turnover of LKR839.7 mn (USD5.3 mn).Tokyo Cement (Non-voting) was the main contributor to the daily turnover with a 34 percent of contribution, as the stock witnessed two off-market trades of 2.6 mn shares at LKR25.0. However, off-market trades only accounted for 15 percent of total turnover compared to 19 percent on last Friday.
Meanwhile, foreign investors remained net buyers of Sri Lankan stocks today as they bought shares worth LKR36.8 mn (USD0.2 mn); thus year-to-date net foreign outflow marginally declined to LKR2.8 bn (USD17.7 mn).
Sector-wise, the manufacturing sector led the turnover generation, having contributed 38 percent of day’s turnover followed by banks, finance and insurance sector which contributed 24 percent.
Furthermore, Adam Investments and Tess Agro (Non-voting) were amongst the top gainers in the market while Amana Bank and Anilana Hotels and Properties were two of the most actively traded stocks for the day.