ECONOMYNEXT – The Colombo Inventory Trade closed down 1.2 % on Monday on account of some promoting, information on its website confirmed.
“Market was down considerably,” Dimantha Mathew, Chief Analysis and Technique Officer at First Capital Holdings PLC, informed EconomyNext.
Excessive volatility was seen out there with investor curiosity flowing out and in.
“Promoting stress continues out there.”
The broader ASPI closed down 1.20 %, or 202.38 factors, at 16,686.93; whereas the extra liquid S&P SL20 Index closed down 1.20 %, or 60.84 factors, at 5,002.43.
“Turnover ranges are declining with the general market taking place,” Mathew mentioned.
The share quantity fell 45 % to 73,175,302 amidst additional falls in turnover ranges to 2.1 billion rupees within the session.
“Market is a bit risky as of late, with that there’s a little bit of a downturn out there,” Mathew mentioned.
Banking sector shares dragged the indices regardless of good quarterly outcomes and dividends issuance.
“Banking sector counters see extra promoting stress.”
Sampath Financial institution closed 0.4 % weaker at 121.75 rupees, Nations Belief Financial institution closed down 0.5 % at 207.00 rupees and Seylan Financial institution fell 2.8 % at 75.00 rupees.
HNB had reported a 363 % achieve in earnings within the December quarter.
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Most lively volumes have been seen in Browns Investments at 14,183,805 (turnover 114,889,386.10 rupees), LOLC Finance at 4,712,049 (turnover 28,746,496.30 rupees), John Keells at 4,348,410 (turnover 96,937,460.10 rupees) and Hela Attire at 4,566,861 (turnover 17,364,952.90) rupees).
Entry Engineering introduced its subsidiary had signed an influence buy settlement with Ceylon Electrical energy Board.
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“Blue chip firms have additionally come down in worth,” Mathew mentioned.
Prime unfavourable contributors to the ASPI have been HNB (ended 1.8 % weaker at 327.50), NDB (fell 2.87 at 118.25), Business Financial institution (down 1.3 % at 150.00), Central Finance Firm (closed down 3.2 % at 209.75) and DFCC Financial institution (fell 2.2 % at 120.50). (Colombo/Feb24/2025)
