CSE reverts to negative mode but ends July up by over 3%

Saturday, 31 July 2021 00:32 - - {{hitsCtrl.values.hits}}

The Colombo stock market reverted to negative mode as both indices dipped, though turnover remained healthy.

The All Share Price Index dipped by over 20 points or 0.25% and the S&PSL20 shed over 9 points or 0.3%. Turnover amounted to Rs. 2.5 billion with 108.5 million shares traded.

For the month of July, the ASPI and the S&P SL20 gained 3.61% and 3.16%, respectively, whilst recording an average daily turnover of Rs. 2.69 billion, according to NDB Securities.

First Capital said the bourse yesterday diverged the momentum to a negative path as ASPI witnessed a continuous sliding down throughout the day despite a marginal recovery towards the closure of the session.

“Index experienced an intra-day low of 8,115 before closing at 8,120 losing 20 points compared to the previous closing,” First Capital said adding retail participation was high.

It said transportation sector dominated the turnover followed by the Capital Goods sector generating a joint contribution of 54%.

Asia Securities said following two sessions of gains, the indices moved downwards during the day weighed by price declines in index-heavy counters NIFL, BIL and LOLC. Turnover was resilient overall, led by retail and HNI activity in EXPO as the stock accounted for 31% of turnover.

Asia said foreigners recorded a net outflow of Rs. 104.8 million while their participation declined to 4.8% of turnover (previous day 5.7%). Estimated net foreign buying topped in LWL at Rs. 10.6 million and net foreign selling topped in JKH at Rs. 44.6 million.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as LOLC Development Finance, Browns Investments and LOLC Holdings.

It said high-net-worth and institutional investor participation was noted in Windforce Ltd. Mixed interest was observed in Expolanka Holdings, Lanka Walltiles and Royal Ceramics whilst retail interest was noted in HVA Foods, SMB Leasing and Browns Investments.

Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) whilst the sector index gained 0.43%. The share price of Expolanka Holdings increased by Rs. 0.30 (0.45%) to close at Rs. 67.

Capital Goods sector was the second-highest contributor to the market turnover (due to Lanka Walltiles, Royal Ceramics and Hayleys) whilst the sector index decreased by 0.28%. The share price of Lanka Walltiles gained Rs. 1.90 (2.75%) to close at Rs. 71. The share price of Royal Ceramics moved up by Rs. 0.10 (0.26%) to close at Rs. 38.70. The share price of Hayleys declined by Rs. 0.70 (0.85%) to close at Rs. 81.30.

HVA Foods was also included amongst the top turnover contributors. The share price of HVA Foods recorded a gain of Rs. 1.20 (16%) to close at Rs. 8.70.

Separately B.P.P.L. Holdings announced an interim dividend of Rs. 0.18 per share.