ECONOMYNEXT – Sri Lanka shares closed 1.3 p.c weaker on Tuesday for the second straight session, brokers mentioned.
“Market’s down primarily as a result of traders are ready for the price range, persons are searching for path,” Ranjan Ranatunga, Assistant Vice President – Analysis at First Capital instructed EconomyNext.
“There’s boring momentum, gradual turnover ranges.”
The ASPI closed down 1.33 p.c, or 220.97 factors, at 16,345.30; whereas the extra liquid S&P SL20 Index closed down 1.35 p.c, or 66.99 factors, at 4,892.46.
“That’s why the turnover remained low at 2 billion rupees, in comparison with the month-to-month common of round 5 billion rupees,” Ranatunga mentioned.
Turnover was 2.3 billion rupees, whereas the share quantity rose 24 p.c to 97,423,601.
Shopping for curiosity throughout early morning commerce drove the indices up, however this was brief lived adopted by a steep drop with the indices weighed down by banks.
NDB closed down 1.9 p.c to 117.00, Seylan Financial institution fell 3.4 p.c 77.00 and Pan Asia Financial institution closed 3.5 p.c weaker at 36.20.
High adverse contributors to the ASPI had been HNB (ended 1.6 p.c weaker at 329.50), Sampath Financial institution (fell 1.6 to 117.00), DFCC Financial institution (down 3.5 p.c at 119.00), Melstacorp (closed down 1.9 p.c at 127.00) and Business Financial institution (fell 1.4 p.c at 144.25).
“There was investor curiosity in selective shares.”
A lot of the turnover got here from the banks (688 million rupees), capital items (319 million rupees) and meals, beverage and tobacco (293 million rupees) sectors throughout the session.
Nations Belief Financial institution ended 0.4 p.c stronger at 188.00, Colombo Dockyard rose 1.6 to 72.10 and Ceylon Tobacco firm was up 1.4 p.c at 1,442.50.
Most energetic volumes had been seen in Browns Investments at 14,191,276 (turnover 117,912,745.60 rupees), Nation Lanka Finance at 10,301,383 (turnover 2,089,658.40 rupees), Dialog Axiata at 5,314,381 (turnover 70,193,713.30 rupees) and Industrial Asphalts at 4,716,981 (turnover 2,019,193.60 rupees).
Persevering with the downward pattern, a web international outflow of 64 million rupees for the day was recorded. (Colombo/Feb11/2025)
