Bearish run continues at CSE

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The bearish run continued for the fourth consecutive session at the Colombo Stock Exchange on Thursday (16), as the benchmark index posted losses on a lower turnover, with continued foreign exits from the Colombo Bourse.

The benchmark All Share Price Index, which started the day at 7,772.08 points on Thursday (16), lost 0.86 per cent (66.81 points) to close the day at 7,705.27 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,485.21 points, lost 0.89 per cent (22.12 points) to close at 2,463.09 points.

The Colombo Stock Exchange saw a daily turnover of Rs 786 million on Thursday (16), lower than Rs 1.12 billion recorded the previous day.

The Colombo Bourse witnessed a foreign outflow worth Rs 15 million on Thursday (16), as foreigners sold shares worth Rs 48 million, as against purchases of Rs 33 million. 

More than 41.7 million shares changed hands on Thursday (16) during 10,888 trades that took place.

Shares of more than 235 companies were traded during the day, of which 104 emerged as losers, ahead of 64 winners.

LOLC Holdings, Browns Investments, Royal Ceramics Lanka, Lanka IOC, and Ceylon Tobacco Company dragged the index down, despite attempts by National Development Bank, Colombo Dockyard, Colombo Land & Development Company, Central Finance Company, and Namunukula Plantations to push it up.

Top ten losers during the day were: Mahaweli Reach Hotels, Blue Diamonds, CT Land, Sarvodaya Development Finance, Softlogic Holdings, TAL Lanka, Muller & Phipps, Tangerine Beach Hotels, United Motors, and Serendib Engineering Group.

Top winners were: Fortress Resorts, Laugfs Gas (non-voting), Beruwala Resorts, Abans, Colombo Land, Mackwoods Energy, Vidullanka, Hotel Sigiriya, Colombo Dockyard, and Renuka City Hotels.

By Mario Andree