Sri Lanka, Apr 25 (Capital Leads) – Indices of the Colombo Stock Exchange (CSE) ended on a mixed note today with net foreign buying continuing for the second consecutive session as Sri Lanka comes to terms with the aftermath of the Easter Sunday bomb attacks.
The broad market All Share Price Index (ASPI) edged up 9.34 points to close 0.17 percent higher than the previous session at 5,422.89 points. The more liquid S&P SL20 Index meanwhile dropped 11.82 points from yesterday to reach 2,591.18 points, a loss of 0.45 percent.
The market witnessed two crossings today where Commercial Bank (COMB) and L B Finance (LFIN) transacted 2.1 mn and 0.2 mn shares at LKR93.0 and LKR120.0 per share respectively contributing to 31 percent of the day’s turnover. With 10.4 mn shares trading in total, the daily market turnover reached LKR705.4 mn (USD4.0 mn), as YTD average daily turnover stood at LKR608.9 mn (USD 3.5 mn).
Both Commercial Bank (COMB) and John Keells Holdings (JKH) led the turnover generation today with a contribution of 43 percent each as the former stock fell 0.11 percent driven by local selling while the latter stood firm amid foreign buying.
With 49 percent of contribution to the day’s turnover, the sector of Banks, Finance and Insurance generated the highest sector-wise contribution of 50 percent ahead of 46 percent from the Diversified Holdings.
Amid foreign investor interest in JKH, the market witnessed net foreign inflow for the second consecutive session today. Overseas investors bought shares worth a net LKR286.5 mn (USD1.6 mn), further narrowing the YTD net foreign outflow to LKR4.4 bn (USD25.2 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.