Rs. 400 m net foreign inflow at CSE

The Colombo stock market reverted to negative territory yesterday proving Wednesday’s gain was an aberration.

However, the CSE saw net strong foreign inflow of Rs. 400 million.

The benchmark ASPI declined by 25 points or 0.2% and the active S&P SL20 was flat with a dip of mere 1.7 points. Turnover was Rs. 812.3 million involving 28 million shares.

Asia Securities said the indices closed in red amid limited activity as investors remained on the sidelines ahead of the monetary policy review meeting.

FCT (-3.3%), CFVF (-2.6%), CALT (-4.8%), HAYL (-1.2%), NTBN (-2.4%), and DIST (-1.5%) recorded price losses during the session while AEL (+2.8%), MGT (+2.4%), SUN (+2.1%), SLTL (+1.2%), ACL (+1.0%), and CFIN (+1.2%) ended higher, lending support to the ASPI.

Overall, 52 stocks ended higher while 110 settled with losses.

Turnover was boosted by off-board transactions in MELS (Rs. 364m) and SUN (Rs. 49m).

Asia said foreigners recorded a net inflow of Rs. 391.9million. Net foreign buying topped in MELS at Rs. 363.2million and selling topped in PLR at Rs. 6.6million.

First Capital said the Bourse closed negatively reversing previous day’s gains amid the subdued investor participation that prevailed in the market ahead of the monetary policy review.

Despite a slightly positive momentum in the beginning, index moved on a downward trajectory throughout today’s session amid dull down interest on Banking counters while large caps such as VONE, BIL and HAYL dragged the index to red shedding 25 points and closed at 10,523. However, on the flip side foreign participation thrived predominantly on MELS which were among the top contributors to both ASPI and turnover. Moreover, Hotel sector counters continued to entice a modest level of interest amid surging tourist arrivals. 

NDB Securities said crossings were witnessed in Melstacorp, Sunshine Holdings and Sampath Bank, accounting for 54.4% of the turnover.

Mixed interest was observed in John Keells Hotels, Sri Lanka Telecom and Commercial Bank while retail interest was noted in Capital Alliance, First Capital Holdings and Prime Lands Residencies.

The Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Melstacorp and Sunshine Holdings) while the sector index gained 0.18%. The share price of Melstacorp increased by Rs 1.90 to Rs 77.50. The share price of Sunshine Holdings gained by one Rupee to Rs 49.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) while the sector index decreased by 0.22%. The share price of Sampath Bank closed flat at Rs 67. John Keells Hotels and Sri Lanka Telecom were also included among the top turnover contributors. The share price of John Keells Hotels closed flat at Rs 19.20, while the share price of Sri Lanka Telecom appreciated by Rs 1.25 to Rs 103.75.