Turnover crosses Rs. 1 b mark at CSE amidst wary investor sentiment

The Colombo stock market saw turnover soar to over Rs. 1 billion though indices reflected mixed performance.

The active S&P SL20 was down by 0.5% but the benchmark ASPI gained marginally by 8 points or 0.08%.

Due to strategic deals, the turnover soared to Rs. 1.07 billion involving 46 million shares.

Asia Securities said the market witnessed a mixed session with the ASPI edging higher and the S&P SL20 index closing in red weighed by JKH (-1.7%), LOFC (-2.4%), LOLC (-2.4%), and RCL (-2.2%).

Investor buying interest was observed in CALT (+2.3%), LIOC (+3.6%), EXPO (+1.5%), SPEN (+3.4%), and CBNK (+6.7%).

SPEN (+7 points), CTC (+6 points), and LIOC (+4 points) came in as the biggest index movers during the session while JKH (-8 points), LOLC (-6 points), and COMB (-6 points) ended as the major laggards on the ASPI. Overall, 120 stocks closed in green while 85 settled with losses.

SAMP topped the turnover list (Rs. 198 million) while DIAL saw a net foreign inflow of Rs. 111 million for the day.

First Capital said the Bourse closed in the green zone with a marginal eight point increase in the index from yesterday. ASPI was very volatile with large fluctuations in the index being observed, as a mixed sentiment among investors was observed and the session ended at 10,305.

The largest positive contributors to the index were SPEN, CTC & LIOC, whereas the largest negative contributors were JKH, COMB and LOLC.

Market turnover was 54% higher than the month’s daily average of Rs. 693.7 million.

Yesterday’s session saw an increase in participation of high net worth investors as large quantities were observed being traded in the market.

NDB Securities said high net worth and institutional investor participation was noted in Citizens Development Business Finance, Hatton National Bank and Aitken Spence. Mixed interest was observed in Sampath Bank, Dialog Axiata and Lanka IOC whilst retail interest was noted in Browns Investments, Amana Bank and Marawila Resorts.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank and Hatton National Bank) whilst the sector index lost 0.26%. The share price of Sampath Bank decreased by 10 cents to Rs. 68. The share price of Hatton National Bank closed flat at Rs. 155.

The Telecommunication Services sector was the second highest contributor to the market turnover (due to Dialog Axiata) whilst the sector index edged down by 0.05%. The share price of Dialog Axiata closed flat at Rs. 9.

Lanka IOC and Citizens Development Business Finance were also included amongst the top turnover contributors. The share price of Lanka IOC recorded a gain of Rs. 2.80 to Rs. 102. The share price of Citizens Development Business Finance closed flat at Rs. 185.75.