Sri Lanka, Oct 04 (Insights Equity) – The Colombo Stock Exchange (CSE), driven by local investor participation, edged up today for the second consecutive session, even as net foreign outflow extended for the twelfth straight session.
Both indices record back-to-back gains: The broad market All Share Price Index inched up 21.77 points to close the session at 5,835.60 points, 0.37 percent higher than yesterday.
Meanwhile, more liquid S&P SL20 Index closed 0.31 percent higher than the previous session to stand at 2,978.66 points as it inched up 9.06 points from yesterday.
This is the second successive day of gains for both indices since last Tuesday when the country’s Central Bank decided to keep policy rates steady despite monetary tightening by the United States and a fast-depreciating LKR.
Turnover declines as trading volume contracts: With off-board transactions making up 31 percent, the day’s turnover stood at LKR319.0 mn (USD1.9 mn), less than half of the year-to-date average daily turnover of LKR779.6 mn (USD4.6 mn) as number of shares transacted slumped to 11.1 mn shares from 24.6 mn recorded for yesterday.
Net foreign outflow continues as local investor participation picks up: Expanding the year-to-date net foreign outflow to LKR6.4 bn (USD37.9 mn), overseas investors sold shares worth a net LKR97.3 mn (USD0.6 mn) today as local investor participation improved from yesterday.
JKH leads the turnover generation: Making up 44 percent of the day’s turnover, John Keells Holdings edged 0.2 percent higher as the stock made the highest contribution to the turnover today driven by a crossing where 0.75 mn of its shares traded at LKR99.0.
Meanwhile, Sampath Bank fell 0.4 percent, contributing 11 percent to the turnover backed by foreign buying.
Furthermore, SMB Leasing (non-voting) and The Finance Company (non-voting) were among the highest gainers while Adam Investments and Anilana Hotels & properties were two of the most actively traded counters for the day.