Thursday Nov 14, 2024
Thursday Nov 14, 2024
Tuesday, 27 July 2021 03:02 - - {{hitsCtrl.values.hits}}
The Colombo stock market turned negative indices-wise, but investor activity remained high with Rs. 4.6 billion in turnover.
The All Share Price index dropped by 19 points or 0.23% and the S&PSL20 shed 14 points or 0.46%. The above average turnover of Rs. 4.6 billion, involving 153 million shares, however, was below Thursday’s Rs. 5.6 billion. Last week the ASPI and the S&P SL20 gained 2.13% and 2.05% respectively, whilst recording an average daily turnover of Rs 5.59 billion.
The Colombo Stock Exchange also saw net foreign selling intensify yesterday with Rs. 1.18 billion pushing the year-to-date figure to Rs. 34.19 billion.
Exit of LF Ruffer Pacific and Emerging Markets Fund from Asiri Holdings Plc accounted for a bulk of the foreign selling. Asiri Hospital Holdings Plc saw 40.3 million of its shares traded for Rs. 1.3 billion. Its share price closed at Rs. 29.40, up by 30 cents. On the other hand, CT Holdings saw Rs. 260 million in net buying. Lanka Milk Foods saw Rs. 241 million in net foreign selling as well.
Analysts said yesterday was a natural correction testing the resistance level at ASPI 8,166, and that it needed healthy consolidation to continue with the trend. They opined that the next support/resistance level would be 8,540 points and that this was valid until the market showed a clear reversal signal.
First Capital said the bourse reverted to the red zone, displaying a weak market sentiment by halting the previous three-day winning streak.
“ASPI surged to an intraday peak at 8,219 within the first four minutes of trading, however, subsequently reversed to a downtrend, displaying a short-lived dip and recovery during the early hours of trading and again during mid-day. Later, the index continued to decline, dragging the index down to 8,123,” First Capital added.
It said turnover was led by the Healthcare Equipment sector followed by the Transportation sector, collectively accounting for a total contribution of 44%. Parcel trades accounted for 38% of turnover.
Kelani Cables announced an interim dividend of Rs. 4.50 per share.
