Sri Lanka, Jan 18 (Capital Leads) – Today, the Colombo Stock Exchange (CSE) ended the session flat as YTD foreign outflow exceeded LKR 2 bn driven by foreign selling in John Keells Holdings (JKH).
The broad market All Share Price Index (ASPI) dipped 1.05 points to close the session at 5,988.07 points, 0.02 percent lower than the previous session, while more liquid S&P SL20 Index, gained 13.04 points, to reach 3,066.29 points, 0.43 percent higher than yesterday.
Amid six crossings where 2.1 mn shares of JKH traded at LKR154.5 per share, the off-board transactions made up 48 percent of the day’s turnover which nearly doubled from yesterday to reach LKR660.8 mn (USD3.6 mn), slightly above the YTD average daily turnover of LKR606.9 mn (USD3.3 mn).
With 74 percent of contribution, JKH dominated the turnover generation as the stock closed flat amid foreign investor selling. Furthermore, the Diversified Holdings led by JKH made up more than three quarters of turnover today while Banks, Finance and Insurance stocks followed up with 11 percent.
Driven by heavy foreign selling in JKH, daily net foreign outflow meanwhile expanded to LKR410.1 mn (USD2.3 mn), as YTD net foreign outflow reached LKR2.4 bn (USD12.9 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.