The sustained positive run at the Colombo Stock Market lost steam yesterday with the benchmark All Share Price Index turning negative, but overall resilience was manifested with turnover crossing Rs. 1 billion mark for 30th consecutive day.
The ASPI shed nearly 12 points or 0.2%, but the more active S&P SL20 Index managed to gain by nearly 5 points or 0.2%. Turnover was Rs. 2.25 billion, slightly lower than Rs. 2.5 billion on Monday.
To give confidence, NDB Securities flagged off the fact that the CSE has achieved over Rs. 1 billion turnover for 30 consecutive days. It said the ASPI closed in red as a result of price losses in counters such as LOLC Holdings, Carson Cumberbatch and Sri Lanka Telecom.
First Capital said the Bourse lost momentum disrupting the winning streak experienced for the past four sessions. “Index recorded a strong downtrend within the first hour of trading as it hit its intraday low of 5,906. Later, market witnessed a gradual uptrend and closed at 5,934 losing 12 points,” it added.
After a day of dominance on gainers board percentage wise on Monday, the plantation stocks were mixed. Only Kotagala, Talawakelle, Malwatte and Madulsima figured in top 10 gainers percentage wise. But the food, beverage and tobacco sector accounted for second highest turnover of Rs. 544 million with over 48 million shares changing hands via 10,600 trades.
Capital Goods counters led the turnover (Rs. 713 million) with the aid of HHL, closely followed by Food and Beverage counters, making a joint contribution of 56%. Moreover, the parcel trades in Hemas Holdings and John Keells Holdings boosted the turnover amounting to 17% of total.
NDB Securities also said high net worth and institutional investor participation was noted in Hemas Holdings and John Keells Holdings.
Mixed interest was observed in Kotagala Plantations and ACL Cables, whilst retail interest was noted in Tokyo Cement Company non-voting and Browns Investments.
Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings, John Keells Holdings and ACL Cables), whilst the sector index lost 0.30%. The share price of Hemas Holdings increased by Rs. 0.50 (0.70%) to close at Rs. 71.50 while the share price of John Keells Holdings gained Rs. 0.80 (0.59%) to close at Rs. 136.00. The share price of ACL Cables appreciated by Rs. 2.40 (3.96%) to close at Rs. 63.00.
Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Kotagala Plantations) whilst the sector index increased by 0.19%. The share price of Kotagala Plantations recorded a gain of Rs 1.40 (13.73%) to close at Rs. 11.60.
Expolanka Holdings was also included amongst the top turnover contributors. The share price of Expolanka Holdings moved down by Rs. 0.10 (0.52%) to close at Rs. 19.20.
Foreigners were net sellers to the tune of Rs. 129.5 million with the year-to-date figure being Rs. 44.15 billion.
(FT)