Investor sentiment mixed at stock market

Investor sentiment remained mixed at the Colombo stock market for the second consecutive day amidst low turnover. 

The All Share Price Index was down by 33 points or 0.3% whilst the S&P SL20 improved by three points. Turnover was Rs. 1.37 billion involving 88.3 million shares. Asia Securities said following a 78 - point gap up opening, the ASPI trended downwards and ended the session lower with a 33 - point loss largely due to price declines in CLC (-1.4%), LOFC (-2.4%), EXPO (-0.3%), BIL (-0.9%) and LOLC (-0.8%). 

It said the more liquid S&P SL20 index managed to close positive on the back of price gains recorded by JKH (+0.2%) and HAYL (+0.7%). 

Turnover was supported by JKH (Rs. 376 million), EXPO (Rs. 175 million) and BIL (Rs. 145 million).

Foreigners continued on the buying side for the seventh consecutive session, generating a net inflow of Rs. 21 million on net buying in VFIN (Rs. 14.5 million) and SPEN (Rs. 2.9 million). Overall, 65 stocks recorded price gains during the session while 118 settled with losses, Asia added. First Capital said the Bourse took a reversal note where ASPI ended in the red zone while breaking the three day winning spree and S&P SL20 index closed in the green zone supported by banking sector counters. 

Though the index began trading on an upbeat note, retail favourite counters started losing the positive momentum and eventually led the market to close lower for the eight consecutive Wednesday at 10,458, losing 33 points.  Turnover was mainly led by Capital Goods, followed by Food, Beverage and Tobacco sectors accounting for a joint contribution of 52%. 

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Lanka IOC and Vallibel Finance. Mixed interest was observed in Hayleys and Expolanka Holdings whilst retail interest was noted in Browns Investments and SMB Leasing voting. 

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 0.20%. The share price of John Keells Holdings increased by 25 cents  (0.16%) to close at Rs. 157. Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments) whilst the sector index decreased by 0.33%. The share price of Browns Investments moved down by 10 cents to close at Rs. 10.60.

Expolanka Holdings, Lanka IOC and SMB Leasing were also included amongst the top turnover contributors. The share price of Expolanka Holdings lost 75 cents to close at Rs. 254.50. The share price of Lanka IOC recorded a loss of Rs. 1.30 (3.14%) to close at Rs. 40.10. The share price of SMB Leasing declined by Rs. 0.10 (8.33%) to close at Rs. 1.10.

Separately, the National Development Bank announced a first and final dividend of one rupee per share and a scrip dividend of 4.50 per share.