ECONOMYNEXT – The Colombo Stock Exchange closed down on Friday, data on its site showed.
The broader All Share Index closed down 0.37 percent, or 45.03 points, at 12,143; while the more liquid S&P SL20 Index closed down 0.36 percent, or 12.83 points, at 3,588.
Turnover was 2.2 billion.
A large part of this came from a crossing on Sampath Bank Plc which contributed in total 1 billion to the day’s turnover. The share closed down at 78.30.
“There were 4 crossings today, which contributed more than 50 percent of the turnover,” Softlogic Stockbrokers said.
“The high net worth and institutions sectors are positive, even though the retail segment is continuing with their wait-and-see approach.”
“This lifted the market to close better than the morning.”
Clearing activity usually seen around the month end could also have been a factor for the indices to close down, market participants said.
“These being the last trade days of the month and a lot of clearing and margin calls taking place could be a reason for market to close down.”
There was a bit of selling in John Keells Holdings Plc, which was seeing continuous buying recently, they said. The share closed flat at 203.75.
There was very minute foreign participation today, which resulted in a net foreign outflow of 19 million.
“Once debt restructuring is complete we expect market to bounce back.”
On the banking counters except for National Development Bank Plc (up at 80.20), Housing Development Finance Corporation Bank of Sri Lanka (up at 36.00), and Nations Trust Bank Plc non voting (up at 140.00), all other banking stocks closed down or flat. (Colombo/Jun28/2024)