CSE dips with further Rs. 3 b outflow

The Colombo stock market suffered fresh outflows as foreigners sold out and indices declining.

Turnover was a high Rs. 4.1 billion with deals on JKH accounting for Rs. 3.5 billion. It saw 23.7 million of its shares traded and foreign holding declining by 21.4 million. JKH closed one rupee lower at Rs. 150. Foreign sales accounted for 78% of the turnover. 

Yesterday’s net outflow brings the figure since 26 October to over Rs. 7 billion. In January to September this year the outflow was only Rs. 6 billion.

Acuity Stockbrokers said the Bourse ended on a negative note today as the ASPI decreased by 0.49% or 30.12 points to close at 6,062.09 points, while the S&P SL20 Index also decreased by 0.56% or 17.85 points to close at 3,190.58.

NDB Securities said Indices closed in red as a result of price losses in counters such as Lanka Orix Leasing Company, Dialog Axiata and Softlogic Holdings.

“High net worth and institutional investor participation was witnessed in John Keells Holdings, Sampath Bank, Teejay Lanka and Melstacorp. Retail interest was observed in Access Engineering,” it added.  Teejay saw foreign buying of 1 million shares for Rs. 35 million.

Hemas Holdings saw its share price dip by Rs. 5.40 or 6% to Rs. 93.40. This was despite selling its Southern hospital for Rs. 450 million to Softlogic/Asiri Hospitals Group.  Asiri Hospital Holdings share dipped by 20 cents and Softlogic Holdings share dipped by Rs. 1.30 or 6%.

NDBS said Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index decreased by 0.93%. The share price of Sampath Bank lost Rs 5.00 (2.13%) to close at Rs 230.00. Teejay Lanka and Access Engineering were also included amongst the top turnover contributors. The share price of Teejay Lanka moved down by Rs 0.80 (2.33%) to close at Rs. 33.50. The share price of Access Engineering appreciated by Rs 0.10 (0.58%) to close at Rs 17.20. 

Cargills and Vidullanka announced their interim dividends of Rs 1.90 and Rs 0.15 per share, respectively.