Bourse continues to decline due to weak investor sentiments

Colombo market witnessed sharp fall at the start of trading yesterday due to weak investor sentiments as the fuel shortage continues in the country. Thus, The All-Share Price Index decreased by 139.3 points (-1.9%) to close at 7,312.7

for the day whilst S&P SL20 Index also declined by 44.7 points (-1.9%) to close at 2,336.4. Expolanka Holdings, Sampath Bank, Aitken Spence, Browns Investments and Melstacorp remained as the top negative contributors to the

ASPI during the day. Further, broader market’s total turnover stood at Rs. 815.3 million against the 12-month average daily turnover of Rs. 4,571.9 million, whilst the volume traded for the day was 56,179.7k against the 12-month average daily volume of 221,106.8k. Banks, Capital Goods and Transportation mostly contributed to yesterday’s turnover.

The top turnover generators for yesterday were Expolanka Holdings Rs.182.6 million (-4.2%), Hatton National Bank Rs.81.9 million (-2.4%), Lanka IOC Rs.72.5 million (-2.9%), Browns Investments Rs. 69.9 million (-5.2%) and Sampath Bank Rs. 63.1 million (-3.5%). Foreigners recorded a net inflow of Rs. 20.5 million yesterday. Foreign purchases stood at Rs. 27.7 million whilst total foreign sales amounted to Rs. 7.2 million. Further, an off-board transaction was witnessed in Commercial Bank (Rs.22.3 mn) yesterday.

Additionally, SMB Leasing (Non-Voting), Hayleys Fibre, Kotmale Holdings, Amaya Leisure and Exterminators were the top price gainers yesterday whilst Shalimar (Malay), Dialog Finance, SMB Leasing (Voting), The Nuwara Eliya and The Nuwara Eliya Hotels were the top price losers. Further, Browns Investments, SMB Leasing (Voting), LOLC Finance, Sampath Bank and Industrial Asphalts were amongst the most actively traded stocks yesterday.