Bourse crashes to 6-week low


The bearish run continued for the fifth consecutive session at the Colombo Stock Exchange on Friday (17), as the benchmark index slipped to a six-week low on a relatively lower turnover, with continued foreign exits from the Colombo Bourse.

The benchmark All Share Price Index, which started the day at 7,705.27 points on Friday (17), lost 3.02 per cent (232.88 points) to close the day at 7,472.39 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,463.09 points, lost 3.83 per cent (94.44 points) to close at 2,368.65 points.

The Colombo Stock Exchange saw a daily turnover of Rs 1.23 billion on Friday (17), lower than Rs 786 million recorded the previous day.

The Colombo Bourse witnessed a foreign outflow worth Rs 17 million on Friday (17) as foreigners sold shares worth Rs 61 million, as against purchases of Rs 44 million. 

More than 62.5 million shares changed hands on Friday (17) during 15,533 trades that took place.

Shares of more than 231 companies were traded during the day, of which 164 emerged as losers comfortably ahead of 64 winners.

Expolanka Holdings, LOLC Holdings, Browns Investment, Hayleys and John Keells Holdings Dragged the benchmark index down despite attempts by Ceylon Cold Stores, Haycarb, Hatton National Bank, Hatton National Bank (non-voting) and DFCC Bank to push it up.

The top ten losers during the day were: SMB Leasing (non-voting), Kandy Hotels, Nation Lanka Finance, Browns and Company, Vallibel One, Lanka Realty, Citizens Development Business, Beruwela Resorts, Hapugastenne Plantations and Mullers & Phipps.

Top winners were: Renuka Holdings (non-voting), Tangerine Beach Hotels, Ceylon Cold Stores, Amana Takaful, ODEL, Singer Finance, Haycarb, United Motors, Durdans (non-voting) and Arpico Insurance.

By Mario Andree