ECONOMYNEXT – The Colombo Stock Exchange closed down on Monday, data on its site showed.
The broader All Share Index closed down 1.60 percent, or 187.25 points, at 11,539; while the more liquid S&P SL20 Index closed down 2.11 percent, or 72.32 points, at 3,356.
Turnover was 678 million, one of the lowest recorded this year.
Hayleys Plc contributed Rs92mn to the turnover, and the share closed down at 100.00.
“Hayleys has been one of the companies that has seen continuous interest,” Softlogic Stockbrokers said.
“After news of the extension of the vehicle import ban, conversely, we saw some buying interest in companies with exposure to vehicles.
Buying interest was seen in People’s Leasing & Finance Plc (down at 12.00), Vallibel Finance Plc (down at 40.90), LOLC Finance Plc (flat at 6.00) and Lanka IOC Plc (down at 118.00).
“It could be that investors think once the ban is reversed there could be gains on the long term horizon. It could be bargain hunting.”
Sunshine Holdings Plc saw foreign buying. The share closed down at 60.90.
Cable Solutions Ltd’s initial public offering is scheduled for tomorrow (23). Its parent company, ACL Cables PLC, saw foreign selling today. The share closed down at 82.10.
The top contributors to the ASPI were The Colombo Fort Land and Building Plc (up at 29.90), Amana Takaful Plc (up at 11.50), and Tokyo Cement Company (Lanka) Plc (up at 48.90).
There was a net foreign outflow of 2.2 million. (Colombo/Jul22/2024)