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The Colombo stock market continued its bear run with both indices down and lower turnover.
Acuity Stockbrokers said the ASPI decreased by 0.57% or 32.94 points while the S&P SL20 Index also decreased by 0.46% or 12.83 points.
Market turnover declined by 46.3% to Rs. 260 million in comparison to Monday while the crossings accounted for 25.5% of the day’s total turnover.
Foreign Investors recorded a net outflow of Rs. 98.5 million over the day compared to a net outflow of Rs. 299 million the previous day.
NDB Equities said the ASPI closed in red as a result of price losses in counters such as Cargills, Browns Investments and LOLC Holdings.
A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in John Keells Holdings.
Mixed interest was observed in Teejay Lanka, National Development Bank and Access Engineering whilst retail interest was noted in Browns Investments. Furthermore, foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings and National Development Bank.
Diversified sector was the top contributor to the market turnover (due to John Keells Holdings and Browns Investments) whilst the sector index lost 0.43%. The share price of John Keells Holdings increased by Rs 1.10 (0.72%) closing at Rs 152.90 whilst foreign holdings decreased by 439,957 shares. The share price of Browns Investments lost Rs. 0.40 (8.70%) to close at Rs. 4.20.
The Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to National Development Bank) whilst the sector index decreased by 0.81%. The share price of National Development Bank closed flat at Rs. 99.00 whilst foreign holdings decreased by 191,000 shares.
Teejay Lanka and Access Engineering were also included amongst the top turnover contributors. The share price of Teejay Lanka moved up by Rs. 0.20 (0.57%) to close at Rs. 35.50. The share price of Access Engineering declined by Rs. 0.20 (1.11%) to close at Rs. 17.80.
