Friday Nov 15, 2024
Friday Nov 15, 2024
Friday, 3 January 2020 00:24 - - {{hitsCtrl.values.hits}}
The Colombo stock market suffered a negative start on the first day of trading in the New Year though most global and Asian markets began positively.
Acuity Stockbrokers said the benchmark All Share Price Index (ASPI) lost 0.34% or 20.68 points to close at 6,108.53 points, while the S&P SL20 Index decreased by 0.27% or 7.87 points to close at 2,929.09.
Market turnover was Rs. 505.5 million down by 47.6% from the last day of trading in 2019.
Though an inauspicious negative start for 2020, the CSE also ended 2019 in similar fashion though finishing the year with 1.3% gain, much to the relief of investors after 2018 saw a 5% decline.
Browns Investments accounted for 42% of yesterday’s turnover with 41 million shares changing hands for Rs. 214.4 million.
Foreign investors were negative too with CSE suffering a net outflow of Rs. 36.7 million though lower in comparison to Tuesday’s outflow of Rs. 125 million. NDB Equities said the ASPI closed in red as a result of price losses in counters such as John Keells Holdings, LOLC Holdings and Distilleries. A similar behaviour was witnessed in the S&P SL20.
High net worth and institutional investor participation was noted in Ceylon Tobacco Company. Mixed interest was observed in Browns Investments and LOLC Holdings whilst retail interest was noted in Three Acre Farms and Access Engineering.
Diversified sector was the top contributor to the market turnover (due to Browns Investments) whilst the sector index lost 1.00%.
The share price of Browns Investments increased by Rs 0.40 (8.00%) to close at Rs 5.40.
Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to LOLC Holdings and Commercial Bank) whilst the sector index decreased by 0.47%. The share price of LOLC Holdings lost Rs 7.80 (4.39%) to close at Rs 169.70. The share price of Commercial Bank closed flat at Rs 95.00.
Brown & Company and Ceylon Tobacco Company were also included amongst the top turnover contributors. The share price of Brown & Company moved up by Rs 13.70 (18.79%) to close at Rs 86.60. The share price of Ceylon Tobacco Company edged down by Rs 0.30 (0.03%) closing at Rs 1,100.00 whilst foreign holdings decreased by 21,025 shares.
Haycarb announced an interim dividend of Rs 3.00 per share.
Reuters reported world stock markets began the New Year with a shot of Chinese stimulus, ensuring there was no immediate hangover after the wild gains of 2019.
Europe’s main markets jump 0.8% to 1.3%, outpacing Asia’s overnight gains and putting them on course for their best opening session of a year since 2013.
MSCI’s broadest index of world shares added 0.2% to its 24% 2019 surge, which was the fourth best of all time. Higher US futures suggested solid gains on Wall Street too, with S&P 500 e-minis up 0.5%.
