Colombo bourse extended its losing streak for the fourth consecutive day as stocks declined across the board driving the Benchmark index and the S&P SL index both to 52 week lows of 6775.27 and 3546.45 respectively. Benchmark index decreased by -42.38 index points or -0.62%, while the 20-scrip S&P SL index shed -26.73 index points or -0.75%.
The lack of positive contributors to the index left only Hatton National Bank (closed at LKR 208.00, +1.46%) with substantial gains to improve the index, while John Keels Holdings (closed at LKR 173.00, -1.76%), Sri Lanka Telecom (closed at LKR 45.00, -2.17%) & Distilleries (closed at LKR 242.00, -1.22%) forced the index to decline.
Healthy market turnover of LKR 741mn was mostly due to institutional activity as crossings accounted for 68% of the total turnover. 2 crossings of 10.7mn shares representing 3.6% of the issued share capital of Alumex changed hands today at LKR 17.00. Further 3 crossings of 1.1mn shares were recorded in Commercial Bank at LKR 139.50. 0.8mn shares of John Keels Holdings changed hands at LKR 171.00 and 1 crossing of 0.1mn shares was recorded in J.L. Morison at LKR 340.00.
Accordingly the top 4 contributors to turnover were the participants of today’s crossings board as Alumex generated LKR 184mn, Commercial Bank generated LKR 166mn, John Keels Holdings accounted for LKR 163mn and J.L. Morison accounted for LKR 34mn of turnover.
The market presented bearish sentiments as 129 counters declined, 51 advanced while 52 remained unchanged. Cash map remained constant, though at low levels of 35%. Only ACL Plastics managed to reach a 52wk high price (LKR 187.00, +1.3%), while 36 scripts touched 52wk low price levels.
Textured Jersey (closed at LKR 34.80, -1.97%) was the most traded counter as investors booked profits following the positive momentum it achieved during the recent sessions. Furthermore, high investor activity was observed in John Keels Holdings (closed at LKR 173.00, -1.76%), Access Engineering (closed at LKR 22.80, -2.15%), Peoples Leasing Company (closed at LKR 21.50, -1.38%) and Sanasa Development Bank (closed at LKR 157.00, +0.58%).
Foreign investors were net sellers of LKR 252mn worth of shares. Foreign participation was 28%. A net foreign inflow was seen in Ceylon Grain Elevators (LKR 5mn), while net foreign outflows were seen in John Keels Holdings (LKR 159mn), Commercial Bank (LKR 88mn) and Textured Jersey (LKR 5mn).