The disturbed investor confidence amidst the sluggishness in some illiquid stocks further hampered the ASPI movement for the third consecutive day and commenced the new month on a negative note.
Thus, the All Share Price Index decreased by 109.2 points (-1.4%) to close at 7,728.6 yesterday while the S&P SL20 Index also weakened by 12.1 points (-0.4%) to close the day at 2,956.1. Moreover, LOLC Development Finance, LB Finance, LOLC Holdings, Nestle Lanka and Expolanka Holdings remained as the top negative contributors to the ASPI during the day. Further, broader market’s total turnover stood at LKR1,420.1 mn (USD7,095.2k) against the 12-month average daily turnover of LKR3,115.8 mn (USD15,567.5k), whilst the volume traded for the day was 73,647.2k against the 12-month average daily volume of 173,488.9k. Banking, Diversified Financials, Capital Goods and Food and Beverage were the main sectors that contributed to the daily turnover.
The top traded counters for yesterday were Hatton National Bank (Non-Voting) LKR201.9 mn, Royal Ceramics LKR 107.3 mn, Renuka Agri LKR 103.5 mn, Expolanka Holdings LKR92.2 mn and LOLC Holdings LKR82.1 mn. Foreigners were net sellers yesterday recording an outflow of LKR42.6 mn (USD21.3k) during the day.
Foreign purchases stood at LKR20.6 mn (USD10.3k) enticed by Windforce (LKR4.0 mn), Three Acre Farms (LKR3.8 mn), Regnis (LKR2.2 mn) and HNB Assurance (LKR1.9 mn) whilst total foreign sales amounted to LKR63.0 mn (USD31.6k), mainly seen in NDB Bank (LKR14.7 mn), People’s Leasing & Finance (LKR14.2 mn), Hatton National Bank (LKR9.3 mn) and LB Finance (LKR8.8 mn). Further, off-board transactions were witnessed in Renuka Agri, Hatton National Bank (Non-Voting), Cargills Ceylon, Royal Ceramics, DFCC Bank and Aitken Spence yesterday.
Additionally, Kotmale Holdings, Dialog Finance, Mahaweli Coconut Plantations, Laugfs Power and HNB Finance touched their 52-week high prices whilst HNB Assurance and SMB Leasing witnessed the 52-week low price points yesterday. Further, Industrial Asphalts, Browns Investments, Vallibel Power Erathna, Royal Ceramics and Expolanka Holdings remained as the most actively traded stocks yesterday.
Meanwhile, with the intentions to establish a regionally recognized Multi-Currency Exchange within the Port City Colombo whilst taking the advantage of the International Financial Center that is expected to be formed in SL over the coming years, Colombo Stock Exchange (CSE) and CHEC Port City Colombo had signed a Memorandum of Understanding (MoU) to enhance the capital markets in Sri Lanka.
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