CSE enjoys Rs. 134 m net foreign inflow but indices dip

Thursday, 27 March 2025 03:09 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday closed negatively amidst waning turnover, though enjoying over Rs. 100 million net foreign inflow.

The benchmark ASPI declined by over 60 points or 0.4% and the active S&P SL20 by 0.3%. Turnover was Rs. 1.6 billion involving 88 million shares.

First Capital said the market experienced a slight decline today as the ASPI fell by 60 points, closing at 15,848.

Participation from HNW investors was evident, with crossings seen today as well. The market showed volatility throughout the day, initially rising in the morning, followed by a decline in the second half. This downturn was mainly due to negative contributors from CINS, JKH, HNB, DFCC, and CFIN, which dampened market performance.

Turnover was a 23.4% decline from the monthly average of Rs. 2.1 billion.

The Banking sector was the largest contributor to turnover, accounting for 38%, followed by the Capital Goods and Food, Beverage and Tobacco sectors, which jointly contributed 32%.

Asia Securities said following Tuesday’s profit-taking, the ASPI closed lower due to price losses in DFCC (-1.9%), BIL (-1.3%), HNBN (-1.0%), and JKH (-1.0%). The index initially touched a high of 15,959 (+51 points) in the first half of the session; however, moved downwards and declined into red territory to close at 15,848 (-60 points). CINSN (-10 points), JKH (-8 points), and HNBN (-8 points) ended as the biggest laggards on the ASPI. The breadth of the market was negative, with 51 price gainers and 134 decliners.Turnover was led by HNBN (Rs. 297 million), CCS (Rs. 135 million), and VONE (Rs. 127 million). Crossings accounted for 25.3% of turnover, led by HNBN (Rs. 239.5 million).

Foreigners recorded a net inflow of Rs. 133.8 million. Net foreign buying topped in RICH.N at Rs. 72.7 million and selling topped in TJL.N at Rs. 3.9 million. NDB Securities said high net worth and institutional investor participation was noted in Hatton National Bank, Vallibel One, and Richard Pieris & Company. Mixed interest was observed in Ceylon Cold Stores, Commercial Bank, and Sampath Bank, whilst retail interest was noted in Nation Lanka Finance, Hela Apparel Holdings, and John Keells Holdings.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank, and Sampath Bank) whilst the sector index lost 0.50%. The share price of Hatton National Bank decreased by Rs. 3 to Rs. 312. The share price of Commercial Bank recorded a gain of Rs. 0.50 to Rs. 147. The share price of Sampath Bank declined by Rs. 0.50 to Rs. 121.25.

The Capital Goods sector was the second highest contributor to the market turnover (due to Vallibel One) whilst the sector index decreased by 0.52%. The share price of Vallibel One closed flat at Rs. 58.

Ceylon Cold Stores was also included amongst the top turnover contributors, with its share price gaining Rs. 1.30 to Rs. 82.50.