CSE subdued amidst lacklustre investor interest

Wednesday, 29 November 2023 00:22 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained subdued amidst continuous lacklustre investor activity.

Both indices closed almost flat whilst turnover was Rs. 724.5 million involving 19.5 million shares.

Asia Securities said the ASPI continued its downward movement dragged by GRAN (-2.6%), CARG (-2.1%), LMF (-2.9%), LIOC (-1.2%), and CICN (-2.8%). CALT (+2.3%), HASU (+1.8%), FCT (+1.2%), COCR (+1.6%), CFVF (+2.7%), and AEL (+1.7%) recorded price gains during the session.

The S&P SL20 edged higher due to buying interest in SLTL (+0.5%).

Overall, 59 stocks closed in green while 92 settled with losses.

A net foreign selling of Rs. 108 million was recorded for the day due to net selling in EXPO (Rs. 107 million)

First Capital said the ASPI continued its descent from the prior session, concluding the day in the red zone at 10,452 with a 28-point loss amid moderate trading volumes.

The banking counters including HNB and DFCC dragged the index down, whilst JKH emerged as a top contributor during the day. WIND also stood out among top contributors, experiencing a 0.15% stake change in a crossing transaction.

NDB Securities said high net worth and institutional investor participation was noted in Expolanka Holdings, John Keells Holdings and Windforce. Mixed interest was observed in Nations Trust Bank, Ceylon Grain Elevators and Sampath Bank whilst retail interest was noted in Lanka Milk Foods, Capital Alliance and Browns Investments.

Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) whilst the sector index closed flat. The share price of Expolanka Holdings closed flat at Rs. 129.

The Banking sector was the second highest contributor to the market turnover (due to Nations Trust Bank) whilst the sector index edged down by 0.11%. The share price of Nations Trust Bank lost 25 cents to Rs. 100.

Windforce, Ceylon Grain Elevators and John Keells Holdings were also included amongst the top turnover contributors. The share price of Windforce moved up 50 cents to Rs. 19. The share price of Ceylon Grain Elevators recorded a loss of Rs. 4.25 to Rs. 159. The share price of John Keells Holdings appreciated by Rs. 1.25 to Rs. 187.25.