Record low turnover in CSE amid thin trading

Sri Lanka, Apr 26 (Capital Leads) – Despite gains in both indices, the Colombo Stock Exchange (CSE) witnessed the third lowest turnover for the year so far amid thin trading as the security situation in the country weighed on the investor sentiment. The defense authorities further tightened security across the country following a spate of bomb attacks on Easter Sunday.

The broad market All Share Price Index (ASPI) edged up 14.17 points higher to stand at 5,437.06 points, a gain of 0.26 percent from yesterday. Meanwhile, more liquid S&P SL20 Index moved 9.58 points higher to reach 2,600.76 points, an increase of 0.37 percent from the previous session.

While there were no crossings during the day, the total number of shares traded stood at 8.3 mn. The daily market turnover meanwhile dropped to LKR162.8 mn (USD0.9 mn), its third lowest for the year and well below the YTD average daily market turnover of LKR602.9 mn (USD3.4 mn).

Making up 67 percent of the day’s turnover, Sampath Bank (SAMP) made the highest turnover contribution to the market today as the stock stood firm amid foreign investor interest. Banks, Finance and Insurance sector stocks, with 82 percent contribution to the turnover, spearheaded the sectoral turnover generation.

After back-to-back sessions of net foreign inflow, the market saw net foreign selling today as investors sold shares worth a net LKR4.5 mn (USD25.6k), extending the YTD net foreign outflow slightly to LKR4.4 bn (USD25.3 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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