Wednesday 23 November 2016

Colombo Stock Exchange Market Review – 23rd Nov 2016


Colombo bourse closed in red for the eight consecutive session marking the longest losing streak in four months. ASI closed at 6,242.68 down 13.30 index points or 0.2% while the S&P SL 20 index closed at 3,468.05 down 5.60 index points or 0.2%.

Market breadth was negative with 76 losers and 52 gainers. Hemas Holdings (LKR 95.00,-5%), Lion Brewery (LKR 455.90, -6.8%) and Ceylon Tobacco (LKR 869.00,-1.2%) shares saw decline in the share prices while Commercial Leasing (LKR 3.70,+8.8%), Commercial Bank (LKR 142.00,+0.7%) and Ceylon Cold Stores (LKR 740.80,+0.9%) gained grounds.
Market turnover fell to LKR 285mn. Top contributor to the turnover was John Keells Holdings (LKR 112mn) which saw a crossing of 0.6mn shares at LKR 145.00. Further, Access Engineering (LKR 36mn) and ACL Cables (LKR 18mn) made noteworthy contributions to the turnover.
Access Engineering, Textured Jersey continued be among the heavily traded stocks along with Ceylon Grain Elevators and Laugfs Gas.

Foreign investors were net sellers with net outflow of LKR 101mn. Top net outflows were seen in John Keells Holdings (LKR 88mn), Laugfs Gas – voting (LKR 15mn) and Access Engineering (LKR 14mn) while top net inflow was seen in ACL Cables (LKR 18mn). Foreign investors accounted for 29% of the day’s turnover.
Source: LSL

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