Market declines

The Colombo bourse extended it's losses further.

The benchmark index, the All Share Price Index (ASPI) lost 0.93% (54.34 points) over yesterday's close to end at 5,800.75 points, whilst the S&P SL 20 Index (S&P) declined by 0.28% (8.96 points) and ended the day at 3,185.76 points.

Market turnover augmented to LKR 1,350.99 Mn primarily due to a few high value block trades witnessed during the day.

The top turnover generators were Sampath Bank PLC (SAMP), John Keells Holdings PLC (JKH) and Lanka Orix Leasing Company PLC (LOLC).

The top turnover contributors accounted for 80% of the total market turnover.

The banking counter, SAMP generated the highest turnover for the day helped by a few high value off the market trades.

The counter generated a total turnover of LKR 428.11 Mn, out of which LKR 306.88 Mn was generated by the five crossings witnessed during the day.

The crossings took place at prices of LKR 218.50 and LKR 220.00.

The counter ended the day at LKR 219.60, climbing by 2.52% (LKR 5.40) over the previous close.

JKH generated a turnover of LKR 391.19 Mn. The counter witnessed four crossings with a volume of 1.2 Mn shares transacting at a uniform price of LKR 226.00. JKH traded at a low of LKR 224.60 and a high of LKR 226.00 before ending at LKR 225.10, rising by 0.04% (LKR 0.10) over yesterday's close.

LOLC too was associated with two off the market trades.

The two off the floor trades saw a quantity of 3.5 Mn shares change hands at a price of LKR 72.50.

The counter generated a total turnover of LKR 265.68 Mn. LOLC ended at LKR 69.30 gaining 2.51% (LKR 1.70) for the day.

Foreigners ended the day as net buyers with foreign purchases worth of LKR 865.73 Mn against foreign sales worth of LKR 35.09 Mn resulting in a net inflow of LKR 830.64 Mn.

SC Research