ECONOMYNEXT – The Colombo Stock Exchange closed down on Monday, data on its site showed.
The broader All Share Index closed down 1.67 percent, or 191.01 points, at 11,251; while the more liquid S&P SL20 Index closed down 2.30 percent, or 75.77 points, at 3,214.
Turnover was 863 million.
“We feel that speculation due to rumours and various polls on the outcome of the upcoming presidential election is hindering sentiment,” Softlogic Stockbrokers said. “This is despite positive signals like the IMF response, fiscals on track, and numbers looking good.”
“People feel if there is a policy change it will be a definite blow.”
Market participants thought the trend might continue despite several corporates posting interim results.
“This interims season has seen a mixed bag of results.”
Foreign buying was seen on Ceylon Cols Stores (down at 55.50), Chevron Lubricants Lanka (down at 121.75), People’s Leasing and Finance Plc (down at 12.20), and ACL Cables Plc (down at 82.50).
Foreign selling was seen on Nations Trust Bank (down at 120.00), and LOLC Holdings (down at 403.25).
A net foreign inflow of 8.9 million rupees was recorded. (Colombo/Aug5/2024)