ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, data on its site showed.
The broader All Share Index closed up 0.08 percent, or 9.26 points, at 11,312; while the more liquid S&P SL20 Index closed up 0.28 percent, or 8.91 points, at 3,233.
Turnover was 337 million.
“Despite the market ending positively, investor participation was minimal,” Softlogic Stockbrokers said. “It was a dull day with very low turnover.”
There was one crossing recorded; A local to local transaction on Kelani Tyres Plc contributed 38 million rupees to the turnover. The share closed flat at 75.00 rupees.
“Foreign activity remained low.”
Foreign buying was seen in Commercial Bank of Ceylon Plc (up at 91.40), Ceylinco Holdings Plc non-voting (flat at 925.00), Renuka Agri Foods Plc (down at 2.90), and Hatton National Bank Plc non-voting (down at 140.00).
Foreign selling was seen in John Keells Holdings Plc (down at 178.00), Dialog Axiata Plc (flat at 9.30), Access Engineering Plc (flat 21.80), and Nations Trust Bank Plc (down at 119.00).
“Banks are seeing a little bit of foreign interest because the banking results that have come out so far look ok. We’ve seen interest in the finance sector particularly companies with exposure to vehicles where interest is continuing.”
Dialog Axiata Plc which announced quarterly results showed a topline drop and margin pressure. “Companies with forex exposure have seen a loss now that the rupee is appreciating.” The share closed flat at 9.30.
Top contributors to the turnover were Kelani Tyres, Access Engineering, and Ceylinco Holdings Plc (up at 2,501.00), Commercial Bank, and John Keells Holdings.
A net foreign outflow of 5.7 million rupees was recorded. (Colombo/Aug12/2024)