Friday Nov 08, 2024
FT
Friday Nov 08, 2024
Wednesday, 24 January 2024 00:22 - - {{hitsCtrl.values.hits}}
The Colombo stock market continued its downward path as investor sentiment showed no rebound.
Both indices declined by 0.9%. So far in the new year, ASPI is down 3.5% and S&P SL20 by 5.4%
Turnover was Rs. 700 million involving 29.7 million shares.
Asia Securities said the indices closed lower with notable price losses recorded by JKH (-1.1%), AHUN (-6.7%), AMF (-4.3%), CALT (-3.7%), LMF (-2.9%) and CIC (-2.7%). JKH (-6 points), EXPO (-5 points) and RICH (-4 points) ended as the biggest laggards on the ASPI.
Overall, 26 stocks recorded price gains while 123 settled with losses.
Turnover was led by JKH (Rs. 211 m), CALT (Rs. 46 m) and LLUB (Rs. 36 m).
Foreigners recorded a net outflow of Rs. 60.3 m. Net foreign buying topped in LIOC at Rs. 14.6 m and selling topped in JKH at Rs. 68.6 m.
First Capital said for the 11th consecutive day, the bourse closed in the red-zone. A downward trend was observed on the index throughout the day, as the majority of counter’s share prices dropped in value, as today’s market saw high selling pressure especially on blue chip counters such as JKH, EXPO and RICH.
ASPI closed today at 10,279, a 93 point drop from the last session. Turnover was 25% lower than the month’s daily average of Rs. 931.4 million and was led by JKH with the counter contributing to 30% of the total.
NDB Securities said high net worth and institutional investor participation were noted in John Keells Holdings, Chevron Lubricants and Sampath Bank. Mixed interest was observed in Capital Alliance, Lanka IOC and Expolanka Holdings whilst retail interest was noted in Browns Investments, Alumex and Cargills Bank.
The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 1.06%. The share price of John Keells Holdings decreased by Rs. 2 to Rs. 179.75.
The Materials sector was the second highest contributor to the market turnover (due to Chevron Lubricants) whilst the sector index decreased by 1.02%. The share price of Chevron Lubricants moved up by 60 cents to Rs. 94.
Capital Alliance, Lanka IOC and Browns Investments were also included amongst the top turnover contributors. The share price of Capital Alliance lost Rs. 1.80 to Rs. 46.80. The share price of Lanka IOC edged down 10 cents to Rs. 99. The share price of Browns Investments declined by 10 cents to Rs. 4.30.
