Colombo bourse witnessed a sharp decline and closed 26 minutes before its official ending time on Monday after S&P SL20 Index plunged more than 5%.
Panic selling was witnessed on heavyweight stocks owing to many possible reasons such as the enacted new taxes from October 1, fuel price reduction, Lackluster sentiment in the UK amidst weakening demand for our local exports etc.
Thus, All-Share Price Index decreased by 281.2 points (-2.8%) to close at 9,649.9 for the day whilst S&P SL20 Index also dropped by 156.0 points (-5.9%) to close at 3,009.3. Expolanka Holdings, Lanka IOC, Royal Ceramics, LOLC Holdings and Richard Pieris remained as the top negative contributors to the ASPI during the day. Further, the broader market’s total turnover stood at Rs. 2,536.6 mn against the 12-month average daily turnover of Rs. 4,071.5 mn, whilst the volume traded for the day was 125,361.4k against the 12-month average daily volume of 192,036.8k.191,442.1k. Transportation and BanksCapital Goods mostly contributed to yesterday’s turnover.
SMB Leasing (Non-Voting), Office Equipment, Nation Lanka Finance, Good Hope and Lanka Hospitals were the top price gainers yesterday whilst Indo Malay, BPPL Holdings, Renuka Capital, Expolanka Holdings and Taprobane Holdings were the top price losers. Further, SMB Leasing (Voting & Non-Voting), Browns Investments, Renuka Agri Foods, Royal Ceramics Lanka and LOLC Finance were amongst the most actively traded stocks yesterday.
The top turnover generators for yesterday were Lanka IOC Rs.570.6 mn (-5.2%), Expolanka Holdings Rs.503.2 mn (-9.3%), ACL Cables Rs. 115.2 mn (-5.7%), Royal Ceramics Rs. 105.8 mn (-8.7), and Chevron Lubricants Rs. 92.6 mn (+2.8%). Foreigners recorded a net inflow of Rs. 44.1 mn yesterday. Foreign purchases stood at Rs. 52.6 mn whilst total foreign sales amounted to Rs.8.5 mn.
Top foreign buying counters MELS LKR. 13.2 mn, SAMP LKR. 8.5 mn, EXPO LKR. 6.8 mn, KVAL LKR. 4.3 mn, LIOC LKR. 3.7 mn and RHL LKR. 2.9 mn whilst top foreign selling counters were CFLB LKR. (1.9) mn, LHCL LKR. (1.1) mn, BALA LKR. (0.9) mn, CIC LKR. (0.7) mn, SCAP LKR. (0.5) mn and MBSL LKR. (0.4) mn. Further, no off-board transactions were witnessed yesterday.
by Daily News Sri Lanka
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