Colombo equities ended another lackluster trading session amid fragile investor confidence on economy. All Share Price index marginally declined by 3.50 points or 0.05% to end at 7,104.37 while S&P SL 20 index marginally declined by 4.67 points or 0.12% to end at 3,881.04.
Price declines in counters such as Hemas Holdings (closed at LKR 86.00, -2.7%), Distilleries (closed at LKR 275.00, -1.3%) and Commercial Bank (closed at LKR 165.00, -0.6%) affected negatively to the index performance.
Daily market turnover was LKR 667mn underpinned by several crossings recorded in John Keells Holdings (0.6mn shares at LKR 173.00 per share),
Colombo equities snapped the five day losing streak and closed with positive returns as bargain hunters entered into the battered blue-chips driving the market activity to a 3 week high. All share index gained 14.01 index points (0.20%) to close at 7,118.38 while 20-scrip S&P SL index end higher at 3,895.70, up by 14.66 index points or 0.38%.
Premier blue chip, John Keells Holdings (closed at LKR 176.00, +1.7%) drove the index performance to greener territory along with price inclines in Lanka Orix Leasing Company (closed at LKR 104.00, +7.4%), Hemas Holdings (closed at LKR 87.90, +2.2%) and Overseas Realty (closed at LKR 23.90, +3.5%).
Daily market turnover reached to LKR 806mn recording a 3 week high supported by two crossings which accounted for 19% of the total turnover. John Keells Holdings topped the turnover list with LKR 156mn underpinned by a single crossing of 0.2mn shares at LKR 175.00.
Colombo bourse failed to sustain the positive momentum gained in previous session and returned to the red zone on Wednesday reflecting lack of conviction on market direction among investors. ASI marginally declined by 3.55 index points or 0.05% to end at 7,114.83 while S&P SL 20 index marginally declined by 3.88 points (-0.10%) to end at 3,891.82.
Primary blue chips such as John Keells Holdings (closed at LKR 174.00, -0.7%), Nestle Lanka (closed at LKR 2,001.00, -1.4%) and Lanka Orix Leasing Company (closed at LKR 102.00, -0.6%) affected adversely to the index performance.
Market turnover was LKR 748mn. John Keells Holdings topped the turnover list with LKR 142mn underpinned by three crossings where 0.5mn shares traded at a price range of LKR 174.00-175.60. Further, Distilleries (LKR 104mn), Hatton National Bank (LKR 72mn) and Bairaha Farms (LKR 56mn) recorded next best contributions to the market turnover. Another crossing was recorded in Hatton National Bank (0.3mn shares at LKR 217.00 per share). Total crossings accounted for 21% of the market turnover.
Market was closed due to a public holiday.