Bear run continues at CSE

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The bearish run continued at the Colombo Stock Exchange (CSE) for the third consecutive session, on Thursday (5), on a lower turnover as investors show caution over the current economic situation, which does not show signs of improvement.

The benchmark All Share Price Index, which started the day at 7,598.04 points on Thursday (5) lost 0.40 per cent (30.49 points) to close the day at 7,567.55 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,510.99 points, lost 1.25 per cent (31.48 points) to close at 2,479.51 points.

The Colombo Stock Exchange saw a daily turnover of Rs 822.7 million on Thursday (5) lower than Rs 1,063 million recorded the previous day.

The Colombo Bourse witnessed a foreign inflow worth Rs 148 million on Thursday (05) as foreign purchased shares worth Rs 172 million as against sales of Rs 24 million. 

More than 73.99 million shares changed hands on Thursday (5) during 10,713 trades that took place.

Shares of 236 companies were traded during the day of which 120 emerged as losers comfortably ahead of 50 winners.

Expolanka Holdings, Royal Ceramics Lanka, LOLC Holdings, Hayleys and Hatton National Bank dragged the benchmark index down despite attempts by Ceylinco Insurance, John Keells Holdings, Cargills (Ceylon), Dialog Axiata and Commercial Bank to push it up.

The top losers during the day were: SMB Leasing (non-voting), Citrus Leisure, Nation Lanka Finance, Orient Finance, Renuka Hotels, Renuka Holdings (non-voting), Browns Beach Hotels, Serendib Engineering Group, Laugfs Gas and Fortress Resorts.

Top winners were: Industrial Asphalt, Ceylinco Insurance, Laugfs Power (non-voting), Unisyst, Myland Developments, Kandy Hotels, Horana Plantations, Dilmah Ceylon, Mahaweli Reach Hotels and Kapruka.

By Mario Andree