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The Colombo stock market ended the final day of the year negative but finished 2019 with a 1.3% gain, much to the relief of investors after 2018 saw a 5% decline.
NDB Equities said during the year, the ASPI gained 1.27% while S&PSL20 shed 6.32%.
Average daily turnover for the year was recorded at Rs. 711 million. Foreigners closed the year as net sellers with net foreign outflow amounting to Rs. 11.72 billion. In 2018 net outflow was greater at Rs. 23 billion.
In terms of the last day of trading for 2019, Acuity Stockbrokers said the Bourse ended on a negative note as the ASPI decreased by 0.44% or 26.79 points to close at 6,129.21 points, while the S&P SL20 Index decreased by 0.72% or 21.31 points to close at 2,936.96.
Turnover rose by 6.9% relative to Monday to amount to Rs. 965 million while the crossings for the day amounted to 16.5% of the day’s total turnover.
Foreign investors recorded a net outflow of Rs. 124.9 million over the day compared to a net outflow of Rs. 177.8 million on Monday.
NDB Equities said the ASPI closed in red as a result of price losses in counters such as Commercial Leasing & Finance, Sampath Bank and LOLC Development Finance.
A similar behaviour was witnessed in the S&P SL20.
High net worth and institutional investor participation was noted in Hatton National Bank and Softlogic Holdings. Mixed interest was observed in LOLC Holdings and Browns Investments whilst retail interest was noted in Access Engineering. Furthermore, foreigners closed as net sellers mainly due to foreign selling in LOLC Holdings.
Banks, Finance and Insurance sector was the top contributor to the market turnover (due to LOLC Holdings, Hatton National Bank and Sampath Bank) whilst the sector index lost 1.33%.
The share price of LOLC Holdings decreased by Rs 1.50 (0.84%) closing at Rs 177.50 whilst foreign holdings decreased by 527,396 shares. The share price of Hatton National Bank moved down by Rs 2.50 (1.43%) to close at Rs 172.20. The share price of Sampath Bank declined by Rs 5.90 (3.51%) to close at Rs 162.40.
Diversified sector was the second highest contributor to the market turnover (due to Browns Investments and Softlogic Holdings) whilst the sector index increased by 0.17%. The share price of Browns Investments lost Rs 0.10 (1.96%) to close at Rs 5.00. The share price of Softlogic Holdings recorded a gain of Rs 0.20 (1.27%) to close at Rs 15.90.
Furthermore, Hayleys Fibre, Dipped Products, Hayleys Fabric, People’s Leasing & Finance and Ceylon Tobacco Company announced their interim dividends of Rs 2.00, Rs 1.50, Rs 0.20, Rs 0.70 and Rs 20.00 per share respectively.
