Stocks close flat as foreign outflow picks up

Sri Lanka, Jan 10 (Capital Leads) – The Colombo Stock Exchange (CSE) ended marginally higher today as net foreign outflow reached its highest for the year so far.

The All Share Price Index (ASPI) edged up 1.86 points to close the session at 5,984.05 points, 0.03 percent higher than the previous session, while more liquid S&P SL20 Index increased 1.54 points to reach 3,037.63 points, gaining 0.05 percent from yesterday.

Crossings made up 11 percent of the day’s turnover as 0.2 mn shares of Sampath Bank (SAMP) traded off-board today at LKR217.5 at LKR219.0 per share, while the market turnover reached LKR390.1 mn (USD2.1 mn) today.

John Keells Holdings (JKH) led the turnover generation with 55 percent of total turnover followed by Sampath Bank (SAMP) which made up 25 percent.  

Diversified stocks dominated the sector-wise contribution with 58 percent, followed by Banks, Finance and Insurance sector which rounded up 33 percent of the day’s turnover.

Foreign selling was seen in both JKH and SAMP as net foreign outflow continued for the fourth straight session reaching LKR274.0 mn (USD1.5 mn), the highest for the year yet, while YTD net outflow extended to LKR751.7 mn (USD4.1 mn).

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