ECONOMYNEXT – The Colombo Stock Exchange closed down on Wednesday, data on its site showed.
The broader All Share Index closed down 0.91 percent, or 104.20 points, at 11,406; while the more liquid S&P SL20 Index closed down 2.05 percent, or 68.27 points, at 3,265.
Turnover was 3.9 billion. This was mainly due to a large foreign to foreign crossing on Overseas Realty (Ceylon) Plc, the property developer behind Colombo’s World Trade Centre and Havelock City.
“70 percent of the day’s turnover was from this trade,” Softlogic Stockbrokers said. The share closed up at 17.00.
A net foreign outflow of 66 million rupees was recorded.
This was one of the highest turnovers recorded for the year.
Hemas Holdings Plc which released its 2Q interim results, showed a dip in profits on a Y-o-Y and Q-o-Q basis, mainly due to sluggish sales in its consumer business. “They faced price downward revisions, and their Bangladesh business faced inflationary pressure.”
“However, their healthcare arm maintained profits due to prudent cost management.” The share closed down at 79.20.
Chevron Lubricants Lanka Plc interim results also showed a drop in profits. “They are still the market leader, but cost side pressures have intensified. There were distribution costs and foreign exchange gains have been down.”
The share closed up at 120.75.
Seylan Bank Plc reported a profit after tax of 2.2 billion rupees, which was a Q-o-Q slump, but Y-o-Y increase. The share closed down at 45.00.
Dilmah Ceylon Tea Company Plc announced a dividend per share of 8 rupees. The share was flat at 1,025.00.
Swadeshi Industrial Works Plc announced a dividend per share of 1.5 rupee. The illiquid share was flat at 15,003.50. (Colombo/Jul31/2024)