ECONOMYNEXT – The Colombo Stock Exchange closed down on Tuesday, data on its site showed.
The broader All Share Index closed down 0.93 percent, or 108.25 points, at 11,510; while the more liquid S&P SL20 Index closed down 1.05 percent, or 35.34 points, at 3,333.
Turnover was 558 million.
“Now that we are in interims season, and it’s the month end, there’s a lot of selling pressure in the market,” Softlogic Stockbrokers said. “During earnings season things dwindle. High net-worths and institutions are adopting a wait-and-see approach.”
“Foreigners were also not very active, there was low participation.” A net foreign outflow of 10.6 million rupees was recorded.
Bairaha Farms Plc which released interim results, showed a profit of 147 million rupees, which was a 34 percent decline on a Y-o-Y basis, but increase on a Q-o-Q basis, they said. The share closed down at 163.75.
The Softlogic Life Insurance Plc share buy-back is to conclude tomorrow (31). The share closed down at 63.40.
Cable Solutions Limited’s IPO, offering 14,666,600 ordinary voting shares at 7.50 rupees a share, was oversubscribed on its opening day, the CSE said.
Meanwhile John Keells Holdings Plc, which is expected to announce interim results shortly, announced a rights issue to raise capital for its Cinnamon Life construction. Shares were offered at a price of 160 rupees. The share closed down at 189.25. (Colombo/Jul30/2024)