Stocks become cheaper in January as net foreign outflow narrows

The Price-to-Earnings (PER) ratio of Sri Lankan stocks dropped to 9.4x in January from 9.7x reported last December, according to the monthly report published by the Colombo Stock Exchange (CSE) for January 2019. Lower PER follows the contraction of broad market All Share Price Index (ASPI) and S&P SL20 Index by 1.03 percent and 1.96 percent respectively during the month.

The monthly turnover meanwhile declined by 27.1 percent from December 2018 to reach LKR12.2 bn (USD68.4 mn), as the number of shares transacted slumped 9.4 percent to stand at 328.4 mn shares.

However, net foreign outflow for January 2019 contracted more than 50 percent from the month before to stand at LKR2.3 bn (USD12.7 mn). In contrast, the market recorded a net foreign inflow of LKR4.0 bn (USD22.7 mn) in January 2018.

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  1. Driven by JKH, turnover near two-month high – CapitalLeads.lk

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