CSE starts fresh week with indices down

Tuesday, 26 November 2024 02:08 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday began a fresh week on a negative note amidst lacklustre investor enthusiasm.

The benchmark ASPI was down by 1.4% and the active S&P SL20 by 1.9%. Turnover was Rs. 2.1 billion involving 85 million shares.

First Capital said the Colombo bourse experienced a price decline across most sectors as investors displayed a profit taking sentiment, with activity visible on selected Banking sector counters and Conglomerates.

Amidst this market volatility, the ASPI closed the day in red at 12,867, losing 188 points.

Turnover saw an increase from the previous Friday but marked a 45.0% decrease from the monthly average. The Banking sector led turnover at 28%, followed by the Capital Goods and Diversified Financials sectors jointly contributing 38% of the overall turnover.

Foreign investors turned net sellers, with a net outflow of Rs. 143 million.

NDB Securities said indices closed in red as a result of price losses in counters such as John Keells Holdings, Hatton National Bank, and Sampath Bank.

High net worth and institutional investor participation was noted in Galle Face Capital Partners, CIC Holdings, and Ceylon Cold Stores. Mixed interest was observed in John Keells Holdings, Sampath Bank, and Seylan Bank, whilst retail interest was noted in LOLC Finance, Softlogic Capital, and Marawila Resorts.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank) whilst the sector index lost 1.87%. The share price of Sampath Bank lost Rs. 2.10 to Rs. 92. The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 2.53%. The share price of John Keells Holdings decreased by Rs. 0.70 to Rs. 19.20.

Galle Face Capital Partners, CIC Holdings, and Ceylon Cold Stores were also included amongst the top turnover contributors. The share price of Galle Face Capital Partners moved down by Rs. 0.20 to Rs. 31. The share price of CIC Holdings recorded a loss of Rs. 0.60 to Rs. 77.90. The share price of Ceylon Cold Stores declined by Rs. 0.20 to Rs. 65.40.