Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 26 March 2021 01:28 - - {{hitsCtrl.values.hits}}
The Colombo stock market lost momentum as it closed on a negative note, whilst turnover was Rs. 1.5 billion with a relatively high 114 million shares traded.
The All Share Price Index declined by over 36 points or 0.5% and the S&P SL20 shed 17 points or 0.6%.
In a continuing setback, the year-to-date (YTD) net foreign outflow crossed the Rs. 16 billion mark yesterday with net selling of Rs. 94 million, though lower compared to Rs. 327 million on Wednesday.
First Capital said the Bourse snapped the three-day winning streak, reverting back to the negative direction.
“Index experienced a zigzag movement within the first 30 minutes of trading; thereafter, recorded a sideways movement till mid-day. Later, market witnessed a strong staircase downtrend and closed at 7,099, losing 37 points,” First Capital added.
It said the Food and Beverage sector took over the dominance of the turnover with a contribution of 34% aided by BIL.
NDB Equities said the ASPI closed in red as a result of price losses in counters such as Expolanka Holdings, Commercial Leasing and Finance and LOLC Holdings.
It said high net worth and institutional investor participation was noted in Hatton National Bank (HNB). Mixed interest was observed in HNB non-voting, Haycarb and Sampath Bank, whilst retail interest was noted in Expolanka Holdings, Dipped Products and Browns Investments.
The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Browns Investments), whilst the sector index edged down by 0.05%. The share price of Browns Investments increased by Rs. 0.10 (1.89%) to close at Rs. 5.40.
The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings), whilst the sector index decreased by 0.91%. The share price of JKH recorded a loss of Rs. 0.75 (0.50%) to close at Rs. 149.25.
Expolanka Holdings, Dipped Products and LOLC Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings lost Rs. 1.70 (3.70%) to close at Rs. 44.30. The share price of Dipped Products moved down by Rs. 1.10 (2.36%) to close at Rs. 45.60.
The share price of LOLC Holdings declined by Rs. 5.50 (1.82%) to close at Rs. 297.
Separately, Namunukula Plantations and Kegalle Plantations announced their interim dividends of Rs. 8.50 and Rs. 4 per share respectively.
