CSE remains negative

The Colombo stock market ended on a negative note yesterday as the ASPI decreased by 1.52% or 87.31 points and the S&P SL20 Index was down 2.21% or 60.42 points.

Acuity Stockbrokers said turnover decreased by 39.0% relative to Tuesday to amount to Rs. 360 million while the crossings for the day accounted for 5.9% of the day’s total turnover.

Foreign investors meanwhile recorded a net inflow of Rs. 16.5 million over the day compared to a net outflow of Rs. 97 million on Tuesday.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as Ceylon Beverage Holdings, Dialog Axiata and LOLC Holdings.

High net worth and institutional investor participation was noted in the Ceylon Tobacco Company. Mixed interest was observed in Sampath Bank and John Keells Holdings whilst retail interest was noted in Chevron Lubricants and Tokyo Cement Company.

The Food, Beverage and Tobacco sector was the top contributor to market turnover (due to Ceylon Tobacco Company and Browns Investments) while the sector index lost 1.10%. The share price of Ceylon Tobacco Company edged down by Rs. 0.10 (0.01%) to close at Rs. 1,119.90. The share price of Browns Investments declined by Rs. 0.20 (4.26%) to close at Rs. 4.50.

The Banks sector was the second highest contributor to market turnover (due to Sampath Bank) while the sector index decreased by 2.11%. The share price of Sampath Bank lost Rs. 3 (1.84%) to close at Rs. 160.00.

John Keells Holdings and Chevron Lubricants were also included amongst the top turnover contributors. The share price of John Keells Holdings moved down by Rs. 0.90 (0.60%) to close at Rs. 149. The share price of Chevron Lubricants recorded a loss of Rs. 1.70 (2.36%) to close at Rs. 70.30.

Furthermore, Union Bank announced its first and final dividend of Rs. 0.14 per share and Ceylon Tobacco Company announced a final dividend of Rs. 12.13 per share.