Colombo equities swung between gains and losses on Monday to start the weekly operations with flat returns. Benchmark ASI bagged 20.34 points in the morning session but failed to sustain the momentum in the latter part to close at 7,100.00 with a marginal gain of 3.94 points or 0.06%. S&P SL 20 index lost 3.58 points (-0.09%) to end at 3,816.22.
Daily market turnover was LKR 988mn.
Colombo bourse slumped on Tuesday where the index failed to retain the momentum gained in the opening hours of the session. Concerns on economic conditions and budget proposals which is due on next month, are seemingly keeping the investors on the side lines.
All share index declined by 21.55 index points or 0.30% to end the session at 7,078.45 while 20-scrip S&P SL index shed 5.01 index points (-0.13%) to close at 3,811.21.
Daily market turnover reached LKR 1.2bn boosted by several crossings which accounted for 28% of the total turnover.
Colombo shares tumbled further on Wednesday despite decrease in Treasury bill yields for the first time in six weeks. Concerns on economy and departure of Carin India, the gas explorer in coast of Mannar affected the investor sentiment.
Benchmark ASI declined notably by 38.13 points or 0.54% to end at a three month low of 7,040.32 while S&P SL 20 index declined by 30.04 points (-0.79%) to end at 3,781.17.
Market turnover was LKR 726mn.
Colombo equities extended the losses for the third consecutive day where benchmark index touched 7,043 mark in the opening hours but failed to retain the positive momentum to close at 7,030.45, down by 9.87 index points or 0.14%. 20-scrip S&P SL index marginally increased by 1.96 index points or 0.09% to end at 3,783.13.
Price declines in high caps such as Ceylon Beverage Holdings (closed at LKR 801.10, -6.9%), Dialog Axiata (closed at LKR 11.00, -0.9%) and People’s Leasing & Finance (closed at LKR 20.80, -3.3%) dragged index performance to red zone.
Daily market turnover was LKR 825mn. Dialog Axiata positioned as the top contributor to the total turnover with LKR 250mn underpinned by several crossings of 22mn shares at LKR 11.00 and counter accounted for 30% of the total turnover. Seylan Bank non-voting (LKR 116mn), Overseas Realty (LKR 46mn) and Ceylon Grain Elevators (LKR 34mn) were next best contributors to the turnover.
Single crossing was recorded in Overseas Realty (1.0mn shares at LKR 22.00) and accordingly crossings accounted for 32% of the total turnover.
Reflecting the negative investor sentiments, out of 256 counters, 107 slipped, 92 advanced while 57 remained unchanged. Cash map advanced from 33% to 44%. 27 counters touched 52wk low prices while only Colombo City Holdings, Taprobane Holdings and Tess Agro non-voting managed to reach 52wk high price levels.