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Thursday, 1 August 2019 00:25 - - {{hitsCtrl.values.hits}}
The Colombo stock market’s All-Share Price Index (ASPI) has ended July with the highest monthly gain since 2012, NDB Securities said yesterday.
“During the month, the ASPI and the S&P SL20 gain 10.48% and 19.50% respectively whilst recording an average daily turnover of Rs 1.1 billion,” it said.
The gain is despite the last two days of the market witnessing a dip, a move brokers linked to profit taking.
A Reuters report said shares fell for a second straight session on Wednesday, dragged down by banking and telecommunication shares.
The country’s benchmark stock index closed 0.28% down at 5,935.34, but ended the month 10.5% higher. The index is down about 1.93% so far this year.
The country’s stock market had a turnover of Rs. 1.1 billion ($6.24 million), nearly twice this year’s daily average of about Rs. 638.9 million so far. Last year’s daily average came in at Rs. 834 million.
Foreign investors sold a net Rs. 361.1 million worth of shares on Wednesday, but they have been net buyers of Rs. 796.1 million worth of equities so far this year, according to index data.
Shares of Sampath Bank PLC fell 3.2%, the biggest listed lender Commercial Bank of Ceylon PLC declined 1.1%, DFCC Bank PLC ended 4.03% weaker, and Sri Lanka Telecom PLC closed 0.34% down.
The rupee ended a tad weaker at 176.30/45 per dollar compared to Monday’s close of 176.25/30.
However, the rupee is up 3.6% so far this year.
Foreign investors sold a net Rs. 3.74 billion worth of government securities in the week ended 24 July, extending the year-to-date net foreign outflow to Rs. 22.19 billion, Central Bank data showed.
