Colombo equities witnessed lackluster trading session on Monday where indices recorded losses after three consecutive days of gains. Investors sentiment turned red which was reflected in the decline of 0.59% (43.58 index points) in All share index to end at 7,306.94, prior to release of the 8th monetary policy review of the year. 20-scrip S&P SL index shed 22.89 index points (-0.57%) to close at 4,026.26. Daily market turnover was LKR 518mn, lowest in 6 weeks.
Colombo bourse extended the losses for the second consecutive session as foreign investors resumed selling amid concerns over bleak outlook in emerging markets. The inaugural sitting of the 8th parliament failed to uplift the domestic investor sentiment and the wait and see approach of investors caused the ASI to retrace to the support level at 7,300. The Benchmark All Share Price index declined by 8.19 points or 0.11% to end at 7,298.75 while S&P SL 20 index lost 18.94 points (-0.47%) to end at 4,007.32.
Colombo Bourse declined for the third session breaking the 7,300 support as blue-chips slid on profit taking and foreign selling. The benchmark All Share Price index shed 58.36 points or 0.8% to end at 7,240.39 amid profit taking. S&P SL 20 index lost 27.42 points or 0.68% falling below the 4,000 mark to end at 3,979.90. In last three sessions the ASI shed 110.13 points or 1.5%. Daily market turnover was LKR 662mn.
Colombo stock market drifted sideways on Thursday to record mixed returns with low turnover and volume. Benchmark index dipped to 7,239 but gained ground to close at 7,245.50, up by 5.11 index points or 0.07%. 20-scrip S&P SL index slightly declined to end at 3,978.84, down by 1.06 index points (-0.03%).
Price advancement in high caps such as Ceylon Tobacco (closed at LKR 980.00, +1.0%), Aitken Spence (closed at LKR 97.90, +1.9%) pinned index performance to the greener territory while declines in People’s Leasing & Finance (closed at LKR 24.20, -1.2%) and Distilleries (closed at LKR 280.60, -0.5%) dragged S&P SL20 index performance to the red zone.
Daily market turnover was LKR 567mn.
Subsequent to right issue announcement, Eden Hotel counter declined to LKR 19.50 but closed higher at LKR 20.00 (-11.11%). Meanwhile, John Keells Holdings warrant 0022, Textured Jersey Lanka, Lanka IOC witnessed heavy trading activity.
Foreign investors were net sellers with a net outflow of LKR 196mn. Foreign participation was 31%. Net foreign outflows were seen in Commercial Bank (LKR 127mn), John Keells Holdings (LKR 54mn), Sampath Bank (LKR 26mn) while net foreign inflow was mainly seen in Asiri Hospitals Holdings (LKR 39mn).