CSE declines as foreign selling picks up

Sri Lanka, Jan 07 (Capital Leads) – Both indices of CSE fell sharply today while daily turnover failed to reach the half a billion-rupee mark as foreign outflow gathered pace recording the second session of outflow for the month.

The ASPI edged down 44.67 points to close the session at 6,022.99 points, 0.74 percent lower than the Friday’s session while S&P SL20 Index shed 35.55 points to stand at 3,070.20 points, 1.14 percent below.

The on-board transactions dominated the turnover generation with a contribution of 84 percent as daily turnover reached LKR405.1 mn (USD2.2 mn), well-above the LKR68.8 mn (USD0.4 mn) of daily turnover in the previous session, the lowest since 2009.

With 49 percent of turnover, JKH led the turnover generation while the stock dipped 1.6 percent led by heavy foreign selling.

HNB witnessed the day’s only crossing of 0.3 mn shares at LKR205.0 per share contributing 16 percent of the total turnover.

Diversified Holdings dominated the sector-wise contribution with 51 percent followed by banking and insurance stocks which made up 36 percent.

Heavy foreign selling was seen in JKH while HNB, Sampath and Asiri Hospital witnessed foreign buying, bringing daily net foreign outflow to LKR205.9 mn (USD1.1 mn), as YTD outflow rose to LKR348.6 mn (USD1.9 mn).

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