Winning streak ends at CSE

By Mario Andree

After peaking to hit record highs, the Colombo Stock Exchange ended its winning streak on Tuesday (19), after fourteen days, as the benchmark posted losses on a high turnover despite continued foreign exits from the Bourse. The benchmark All Share Price Index (ASPI) slipped 1.43 per cent (113.69 points) to close at 7,808.97 points. However, the more liquid S&P SL20, which represents the top 20 companies traded, gained 1.86 per cent (55.73 points) to close at 3,059.03 points.

The Colombo Stock Exchange witnessed a turnover of little less than Rs 11.42 billion, lower than the Rs 12.18 billion recorded the previous market day. More than 690 million shares changed hands on Tuesday (19) during 64,655 trades that took place.

Shares of 275 companies were traded during the day, of which 139 emerged as losers ahead of 78 winners.

Foreigners were net sellers for the eighteenth consecutive session. Net foreign outflow during the day amounted to Rs 535.8 million as foreigners sold little less than Rs 857.6 million as against purchases worth Rs 321.7 million.

The top ten gainers during the day were: SMB Leasing (non-voting), EB Creasy, Industrial Asphalt, Pan Asia Banking Corporation, Amana Bank, Laugfs Power (non-voting), Laugfs Power, Nation Lanka Finance, Commercial Bank (non-voting) and Sampath Bank. The top ten losers were: Palm Garden Hotel, LOLC Finance, Commercial Leasing and Finance, Durdans (non-voting), Tess Agro, LOLC Development Finance, Brown and Company, Vallibel One and Gestetner.