Rs. 686 m net foreign inflow at CSE; locals subdued

Wednesday, 19 June 2024 00:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market began the holiday-shortened new week on a negative note, though foreigners stepped up their buying.

The active S&P SL20 declined by 0.6% and the benchmark ASPI by 0.4%. Turnover was Rs. 1.8 billion involving 38.7 million shares. Foreigners recorded a net inflow of Rs. 686.5 million of which JKH accounted for Rs. 612.5 million.

Asia Securities said the indices began the shortened week in red dragged by price losses in COCR (-1.9%), DFCC (-1.5%), HAYL (-1.2%), HNBN (-0.7%), and LOLC (-1.0%). COMBN (-8 points), HNBN (-5 points) and CARS (-4 points) ended as the biggest laggards on the ASPI. Overall, 69 stocks ended in green while 107 ended with losses.

Turnover was led by JKH (Rs. 625 million), HNBN (Rs. 336 million), and NTBN (Rs. 140 million). Crossings accounted for 26.5% of turnover led by HNBN (Rs. 220.5 million), JKH (Rs. 204 million) and MGTN (Rs. 45 million).

First Capital said the Colombo bourse commenced the week on a downward trend, extending uncertainties from the previous week, as investor confidence waned amidst prevailing uncertainties while closing both indices in red. However, the participation of the HNWIs remained active. COMB, HNB, CARS, DFCC and HAYL majorly contributed to the index negatively, while buying interest for some export-oriented companies was also observed. Furthermore, the majority of the banking sector counters exaggerated a negative pressure to the index. The ASPI closed at 12,261 losing 50 points after showing a long-lived bearish trend throughout the day.