Bear run continues at CSE

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The bearish run continued at the Colombo Stock Exchange (CSE) for the fourth consecutive session, on Friday (6), 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 7,567.55 points on Friday (6) lost 1.85 per cent (140.07 points) to close the day at 7,427.48 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,479.51 points, lost 3.16 per cent (78.30 points) to close at 2,401.21 points.

The Colombo Stock Exchange saw a daily turnover of Rs 973.9 million on Friday (5) higher than Rs 822.7 million recorded the previous day.

The Colombo Bourse witnessed a foreign inflow worth Rs 135 million on Friday (6) as foreign purchased shares worth Rs 185 million as against sales of Rs 50 million. 

More than 40.78 million shares changed hands on Friday (6) during 12,434 trades that took place.

Shares of 234 companies were traded during the day of which 118 emerged as losers comfortably ahead of 59 winners.

LOLC Holdings, Expolanka Holdings, John Keells Holdings, Hayleys and Browns Investment dragged the benchmark index down despite attempts by Ceylon Tobacco Company, Laugfs Gas, Renuka Hotels, Ceylon Investment and Sampath Bank to push it up.

The top losers during the day were: Industrial Asphalt, Unisyst, Sigiriya Village Hotels, SMB Leasing, Renuka Agri, Commercial Development, Cooperative Insurance, EML Consultants, Softlogic and EB Creasy.

Top winners were: Laugfs Gas, Renuka Hotels, Ceylon Investment, Serendib Hotels (non-voting), Serendib Engineering Group, Amana Takaful, Royal Palms Beach Hotels, People’s Merchant Finance, Citrus Waskaduwa and Hotel Sigiriya.

By Mario Andree