Bullish run ends at CSE
By Mario Andree
The seven-day bullish run at the Colombo Stock Exchange came to an end on Friday (16) as the benchmark index posed losses, for the first time since 5 July this year, on a relatively higher turnover with some foreign exits from the Colombo Bourse.
The benchmark All Share Price Index (ASPI), which started the day at 7,986.45 points, peaked to 8,023.65 points during mid-day trading before crashing to 7,965.27 points. The index settled at 7,966.95 points, losing 19.50 points (0.24 per cent) compared to the previous day’s close.
Expolanka Holdings, Nestle Lanka, Distilleries Company, The Kandy Hotels Company and Cargills (Ceylon) tried to pull the index up but LOLC Development Finance, Commercial Leasing and Finance, LOLC Holdings, Browns Investment and John Keells Holdings dragged the index down.
The more liquid S&P SL20, which started the day at 3,031.32 points, peaked to 3,045.05 points during the day before crashing to 3,028.76 points. The index settled at 3,030.27 points, gaining 1.05 points (0.03 per cent) compared to the previous day’s close.
The day’s turnover neared Rs 3.07 billion, lower than the Rs 1.93 billion recorded during the Market’s previous day’s trading.
Shares of 265 listed companies were traded, during the day, of which 96 were winners ahead of 91 losers.
More than 219 million shares changed hands during the 24,880 trades that took place.
Despite some entry on the previous day, Foreigners exited the CSE on Friday (16). The net foreign outflow (NFO) during the day amounted to Rs 1.12 billion as foreigners purchased shares worth Rs 1.13 billion as against sales worth Rs 11 million.
The top ten winners during the day were: Industrial Asphalt, The Kandy Hotels Company, Ramboda Falls, Nuwara Eliya Hotels Company, Anilana Hotels, Gestetner, Samson International, Balangoda Plantation, Madulsima Plantation and Colombo City Holdings.
The top ten losers were: SMB Leasing, Serendib Land, Tran Asia Hotels, Hotels Corporation, Laugfs Gas, LOLC Development Finance, Palm Garden Hotels, Multi Finance, Citrus Waskaduwa and Citrus Hikkaduwa.