CSE closes lower in April, net foreign inflows turn positive

The Colombo Bourse closed lower in April, with the benchmark All Share Price Index (ASPI) declining 3.4% Month on Month (MoM) to 8,983 points (a decrease of -318 index points MoM).

Meanwhile, the more liquid S&P SL20 index declined -2.4% MoM to 2,618 points (a decrease of -65 index points) according to CT CLSA Securities (Pvt) Ltd Market Statistics for April 2023.Average daily turnover decreased to Rs. 964 million in April 2023 (vs. Rs. 1,942 mn in March 2023). Top contributors to monthly turnover were Expolanka Holdings (EXPO, Rs. 2,198 mn, 13 mn shares), John Keells Holdings (JKH, Rs. 946 mn, 7 mn shares), and Dialog Axiata (DIAL, Rs. 781 mn, 72mn shares). Net foreign inflows turned positive to Rs. 887 mn in April 2023 following a net foreign outflow of Rs. 2,591 mn in March 2023.

During the month, net foreign buying was seen in Tokyo Cement Company (Lanka) – Non-Voting (TKYO, +Rs.501mn), Aitken Spence (SPEN, +Rs.457mn), and Hemas Holdings (HHL, +Rs.185 mn).