Sri Lankan stocks end flat amid net foreign buying

Sri Lanka, Nov 12 (Capital Leads) – The Colombo Stock Exchange (CSE) closed marginally up today as net foreign buying returned to the market for the second time in less than a week.

ASPI ends flat as S&P SL20 edges up 0.4 percent: The All Share Price Index (ASPI) edged up 2.31 points to close the session steady at 5,980.94 points, 0.04 percent higher than the previous session while S&P SL20 Index inched up 11.77 points to stand at 3,105.98 points, 0.38 percent above the last session.

Turnover declines two thirds: The on-board transactions dominated the turnover generation with a contribution of 71 percent as daily turnover reached LKR424.7 mn (USD2.4 mn), slightly over a third of the average turnover recorded for the last three sessions and well below the year-to-date average daily turnover of LKR818.5 mn (USD4.7 mn).

The total number of shares transacted today stood at 11.7 mn while 0.7 mn shares of Hatton National Bank (HNB) and John Keells Holdings (JKH) changed hands off-board through three crossings

For the second session in less than a week, foreigners are net buyers: With HNB dominating the foreign investor interest today, overseas investors purchased shares worth a net LKR81.1 mn (USD0.5 mn) as year-to-date net foreign outflow contracted to LKR17.5 bn (USD99.9 mn).

JKH leads turnover generation; gains more than four percent: Amid local buying, JKH led the turnover generation today with 36 percent of contribution as the stock gained 4.14 percent with 0.3 mn of its shares trading off-board at LKR150.0 while HNB transacting 0.4 mn shares off-board at LKR210.0 dipped 1.13 percent contributing 26 percent to the turnover.

Banks, finance and insurance stocks declining 0.50 percent today made the highest sector-wise contribution with 41 percent followed by diversified holdings which collectively made up 37 percent as its sector index edged up 1.19 percent.

Furthermore, Mercantile Shipping (MSL) and Renuka Holdings (RHL) were two of the highest gainers in the market today while MTD Walkers (KAPI) and Asia Asset Finance (AAF) were among the most actively traded counters of the day.

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