FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Breaking News- Kanchana to go to Qatar ; 2 more ministers off to Russia
by Beyondsenses Today at 8:13 am

» PM thanks President Biden for assuring US support to Sri Lanka
by Beyondsenses Today at 8:07 am

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by Beyondsenses Today at 8:03 am

» Sri Lanka Stock Market heading toward ASPI 4500
by God Father Yesterday at 9:14 pm

» Why no power cuts in certain areas of Colombo?
by God Father Yesterday at 8:03 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 9:49 am

» කොළඹ රාජකීය ගොල්ෆ් සමාජය විසින් රජයේ දේපළ අවභාවිත කිරීම
by ddindika Yesterday at 9:33 am

» LOLC to enter the giant Indian Market
by samaritan Yesterday at 9:17 am

» LOLC HOLDINGS PLC (LOLC.N0000)
by CHRONICLE™ Yesterday at 6:46 am

» SOEs within Minimum Programme for Economic Recovery
by CHRONICLE™ Yesterday at 6:44 am

» COVID WAVES: Can there be another Covid-19 wave in Sri Lanka?
by CHRONICLE™ Yesterday at 6:36 am

» Luminex Limited lists on the Diri Savi Board after a capital raise of Rs. 250 Million
by CHRONICLE™ Yesterday at 6:34 am

» Importance of Agroforestry for Sri Lanka
by CHRONICLE™ Yesterday at 6:31 am

» Nivard Cabraal sets record straight on decision to allow flexibility to the rupee
by God Father Sun Jun 26, 2022 11:15 pm

» Baseless accusations against the former Governor Nivard Cabraal
by ChooBoy Sun Jun 26, 2022 10:44 pm

» Heavy losses at CPC whilst LIOC records profit
by ChooBoy Sun Jun 26, 2022 1:32 pm

» Misuse of government property by Royal Colombo Golf Club
by ChooBoy Sat Jun 25, 2022 12:52 pm

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Sat Jun 25, 2022 12:00 pm

» Container shipping stocks routed
by target1 Fri Jun 24, 2022 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Fri Jun 24, 2022 1:26 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Rs. 109 b in value wiped off in two days at CSE

Rs. 109 b in value wiped off in two days at CSE

Go down  Message [Page 1 of 1]

CITIZEN

CITIZEN
Manager - Equity Analytics
Manager - Equity Analytics

The Colombo stock market has seen over Rs. 100 billion in value wiped off in two days as investor sentiment turned cautious amidst macro issues as well as prospects on companies.

The All Share Price Index yesterday fell by 2% or over 249 points and the S&P SL20 dipped by 2.6% or over 111 points. On Monday both indices declined by 1%. Turnover yesterday was Rs. 5.37 billion involving 188 million shares.

Market capitalisation was Rs. 5.629 trillion down by Rs. 109 billion from Rs. 5.738 trillion last Thursday. Friday was a holiday on account of Independence Day.

Asia Securities said the indices extended losses for the second consecutive session heavily weighed down by price declines in EXPO (-5.4%), LOLC (-3.7%), RCL (-5.9%), and VONE (-7.9%). However, it noted that the indices ended the session on a recovering note as the ASPI bounced back from an intra-day low of 12,296 to 12,422 (+126 points) with retail and HNI investors resorting to buying on the dip as fundamentals remain unchanged, offering stocks at attractive valuations across sectors.

Turnover was led by EXPO (Rs. 868 million), CLC (Rs. 639 million) and BIL (Rs. 282 million).

Rs. 109 b...

“The ASPI opened trading with a gap down of 147 points at 12,485 and hovered around the 12,500 level in the first hour of the session. Thereupon, the index declined sharply below the 12,300 level in mid-afternoon trade recording an intra-day loss of 336 points, however, recouped some of the losses in the hour of trading to close 249 points lower at 12,382,” Asia said.

It said EXPO weighed the most on the ASPI during the session contributing 35 negative points to the index, followed by LOLC (-24 points), RCL (-21 points), and RICH (-15 points). The breadth of the market remained negative with 44 price gainers and 180 decliners.

Despite bearish local sentiment, the market saw a net foreign inflow of Rs. 59.5 million with Teejay Lanka topping net foreign buying at Rs. 48 million with VFIN seeing most selling at Rs. 34.2 million.

Foreign participation declined to 1.8% of turnover (previous day 5.2%).

First Capital said the bourse slumped in the red zone making a loss for the consecutive third Tuesday with a hefty intraday-loss while turnover was recorded at a 2-week low.

“The Index opened on a bearish sentiment but reversed after the initial few minutes with a gradual uptrend. Subsequently the index plunged steeply hitting an intraday low of 12,288 as selling pressure emerged with investors booking profits in retail favourite counters such as EXPO and LOLC which dragged down the index sharply. 

“However, during the latter part of the session the index gradually recouped but failed to hold a positive momentum before closing for the day at 12,382 losing,” First Capital said. It added that turnover was led by a joint contribution of 44% from the Diversified Financials sector and Capital Goods sector.

NDB Securities said high net worth and institutional investor participation was noted in Teejay Lanka, Lanka Orix Finance and Vallibel One. Mixed interest was observed in Expolanka Holdings, Softlogic Life Insurance and Hela Apparel Holdings Limited whilst retail interest was noted in Industrial Asphalts, Browns Investments and Commercial Leasing & Finance.

Diversified Financials sector was the top contributor to the market turnover (due to Commercial Leasing & Finance and Lanka Orix Finance) whilst the sector index lost 1.92%. The share price of Commercial Leasing & Finance gained Rs. 2.10 (5.24%) to close at Rs. 42.20. The share price of Lanka Orix Finance declined by 70 cents (2.51%) to close at Rs. 27.20.

The Capital Goods sector was the second highest contributor to the market turnover whilst the sector index decreased by 2.26%. Expolanka Holdings, Browns Investments and Softlogic Life Insurance were also included amongst the top turnover contributors. 

The share price of Expolanka Holdings decreased by Rs. 18 (5.36%) to close at Rs. 317.75. The share price of Browns Investments moved down by 40 cents (2.67%) to close at Rs. 14.60. The share price of Softlogic Life Insurance recorded a gain of Rs. 19.75 (15.34%) to close at Rs. 148.50.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum