Mixed performance at CSE

The Colombo stock market produced a mixed performance yesterday with indices going in different directions amidst moderate turnover.

The active S&P SL20 gained by 1.78 points or 0.06% and the benchmark ASPI declined by 0.07% or 7.56 points. Turnover was Rs. 1.14 billion involving 25.29 million shares

First Capital said the Colombo Bourse failed to sustain the temporary gain on Wednesday as selected Banking sector counters and index heavyweights exerted a negative pressure on the index. CINS, HNB, JKH, CARG and DIAL emerged as the top negative contributors to the index. Subsequently, ASPI halted the day at 10,567, losing 8 points. 

Meanwhile, turnover recorded at Rs. 1.1 billion marking a 32.2% decrease from the monthly average standing at Rs. 868 million amidst mixed participation. The Banking sector contributed 63% to the overall turnover whilst the Capital Goods and Material sectors jointly contributed 24% to the total turnover. 

Foreign investors remained net buyers, recording an inflow of Rs. 13.5 million.

NDB Securities said the ASPI edged down as a result of price losses in counters such as Ceylinco Insurance, Hatton National Bank and John Keells Holdings with the turnover crossing Rs. 1.1 billion. Meanwhile, the S&P SL20 edged up. 

High net worth and institutional investor participation was noted in Commercial Bank, Hatton National Bank and John Keells Holdings. 

Mixed interest was observed in Dialog Axiata, Sampath Bank and Dipped Products whilst retail interest was noted in SMB Leasing, Softlogic Holdings and LOLC Finance. 

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Hatton National Bank and Sampath Bank) whilst the sector index closed flat. 

The share price of Commercial Bank decreased by 20 cents to close at Rs. 79.80. The share price of Hatton National Bank lost Rs. 2.50 to close at Rs. 155.00. The share price of Sampath Bank declined by 10 cents to close at Rs. 68.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 0.14%. The share price of John Keells Holdings moved down by one rupee to close at Rs. 160. Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata recorded a loss of 10 cents to close at Rs. 8.50.