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

Rs. 109 b in value wiped off in two days at CSE Vote_lcap11%Rs. 109 b in value wiped off in two days at CSE Vote_rcap 11% [ 21 ]
Rs. 109 b in value wiped off in two days at CSE Vote_lcap20%Rs. 109 b in value wiped off in two days at CSE Vote_rcap 20% [ 37 ]
Rs. 109 b in value wiped off in two days at CSE Vote_lcap29%Rs. 109 b in value wiped off in two days at CSE Vote_rcap 29% [ 53 ]
Rs. 109 b in value wiped off in two days at CSE Vote_lcap40%Rs. 109 b in value wiped off in two days at CSE Vote_rcap 40% [ 74 ]

Total Votes : 185

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» AAIC 100 = SCAP 16
by Riz123 Today at 2:42 pm

» SGH buys EXPO from retailers
by samaritan Today at 12:13 pm

» Buy lofc tomorrow - Maharaja
by ADVENTUS Today at 11:47 am

» US inflation eased slightly in July
by ADVENTUS Today at 11:25 am

» ACL; MELS; HHL; BIL; LWL- STOCKS TO WATCH
by ADVENTUS Today at 11:19 am

» LOFC Future
by ADVENTUS Today at 11:17 am

» Pakistan stocks surge on IMF Staff level agreement - CSE is warming up for the big run
by samaritan Today at 11:16 am

» LOLC FINANCE PLC (LOFC.N0000)
by Anushka Perz Today at 10:24 am

» L G I L - Maharaja special
by Chula Yesterday at 8:13 pm

» HAYLEYS PLC (HAYL.N0000)
by cseboss Yesterday at 11:34 am

» NO FURTHER INCREASE IN TAXES-PRES. RANIL WICKRAMASINGHE
by ADVENTUS Tue Aug 09, 2022 3:48 pm

» CARGO BOAT DEVELOPMENT COMPANY PLC (CABO.N0000)
by Dasun Maduwantha Tue Aug 09, 2022 12:10 pm

» Nestle‚ declares highest ever dividend
by Shiranli Tue Aug 09, 2022 11:24 am

» PRIME LANDS RESIDENCIES PLC (PLR.N0000)
by Anushka Perz Tue Aug 09, 2022 11:15 am

» MULTI FINANCE PLC (MFL.N0000)
by Eleven Mon Aug 08, 2022 9:28 pm

» AGSTAR PLC (AGST.N0000)
by Thushara Ayya Mon Aug 08, 2022 4:18 pm

» LIOC ....Get in soon
by samaritan Mon Aug 08, 2022 11:49 am

» Sinopec likely to enter Lankan fuel market
by samaritan Mon Aug 08, 2022 9:41 am

» RW - Rescue Warrior of Sri Lanka's Economy
by reyaz Mon Aug 08, 2022 8:17 am

» Should Central bank increase Interest rates?
by reyaz Mon Aug 08, 2022 7:52 am

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