Despite early spike market declines

On Jul 6, 2021

Despite an index spike during the initial trading hours, the Colombo bourse gradually declined during the latter half closing its proceedings in red. Moreover, the All Share Price Index marginallydeclinedby2.0 points (-0.0%) to close at 7,792.2yesterday whilst the S&P SL20 Index also dropped by 21.7 points (-0.7%) to close the day at 2,931.3. LOLC Development Finance, John Keells Holdings, Ceylon Cold Stores, LOLC Holdings and Expolanka Holdings remained as the top negative contributors to the ASPI during the day. Further, the broader market’s total turnover stood at LKR1,353.2mn (USD6,754.1k) against the 12-month average daily turnover of LKR3,114.1mn (USD15,543.5k), whilst the volume traded for the day was 63,473.6k against the 12-month average daily volume of 173,687.1k. Banking, Capital Goods and Materials were the main sectors that contributed to the daily turnover.

The top traded counters for yesterday were John Keells Holdings LKR345.8mn (USD1,726.1k, -2.2%), Cargills Ceylon LKR124.1mn (USD619.4k, +2.0%), LOLC Holdings LKR64.9mn (USD323.8k, -0.7%), LOLC Finance LKR60.2mn (USD300.7k, +12.7%) and Dipped Products LKR57.6mn (USD287.7k, -1.5%). Foreigners were net sellers yesterday offloading LKR210.6mn (USD105.1k) worth shares. Foreign purchases stood at LKR24.6mn (USD12.3k) which were approximately witnessed in Dipped Products, Tokyo Cement, Singer Finance and Sunshine Holdings whilst total foreign sales amounted to LKR235.0mn (USD117.4k), assumed to be seen in John Keells Holdings, Cargills Ceylon, Union Bank and CW Mackie. Further, an off-board transaction was witnessed in main blue chips John Keells Holdings yesterday.

Additionally, Kotmale Holdings, Cargills (Ceylon), Bogala Graphite, Mahaweli Coconut Plantations and LVL Energy Fund touched their 52-week high prices whilst HNB Assurance, Vallibel Finance and SMB Leasing witnessed the 52-week low price points yesterday. Further, LOLC Finance, Commercial Leasing & Finance, Browns Investments, Browns Investments and Nawaloka Hospitals remained as the most actively traded stocks yesterday.