Investors cautious in the wake of spreading Covid-19 infections

By Hiran H. Senewiratrne

The CSE fell 0.12 percent yesterday, pushed down by Ceylinco Insurance PLC, Expolanka Holdings and Commercial Leasing and Finance. However, the market indicated mixed reactions, where investors were cautious due to an increase in the number of Covid 19 infections in Sri Lanka, stock market analysts said. 

The Colombo benchmark All Share Price Index fell 8.50 points to close at 7,208.20 and the S&P SL20 index of more liquid stocks gained 0.24 per cent or 6.93 points to close at 2,869.25.The market closed early yesterday ahead of May Day which falls today.

ASPI opened higher and continued to gain but marginally fell right before the market closed at 12.30 pm..

Turnover was Rs.1.14 billion with 73 stocks gaining and 67 falling. Three crossings took-place during the day. Those crossings were reported in JKH, which crossed 1.52 million shares to the tune of Rs. 213 million, its share price was Rs. 140, CTC, 113,000 shares crossed for Rs. 102.9 million its shares traded at Rs. 905.50 and CCS 145,000 shares crossed for Rs. 80.7 million,. its shares traded at Rs. 554.74.

In the retail market top five contributors to the turnover were, Expolanka Rs. 205.2 million (4.4 million shares traded), Browns Investment Rs. 98.8 million (15.4 million shares traded), Royal Ceramic Rs. 81.1 million  (2.3 million shares traded), LOLC Holdings Rs. 51.9 million (162,000 shares traded) and JKH Rs. 36.4 million (258,000 shares traded). During the day 42.3 million share volumes changed hands in 8117 transactions.  

During the day the top net seller was JKH, which amounted to Rs. 212.8 million and net foreign buyer Expolanka, which amounted to Rs. 4.72 million. During the day aggregate foreign purchases were Rs. 212.8 million and net foreign sales Rs. 439.2 million. Therefore net foreign outflow amounted to Rs. 226.4 million       

During the day Ceylinco Insurance PLC fell Rs.  148.75  to close at Rs.  1,938.50  a share, contributing most to ASPI’s fall.

LOLC Holdings gained 50 cents to close at  Rs. 320.50, Brown and Company gained Rs. 8.00  to close at Rs. 180.25 and Browns Investment gained 10 cents to close at Rs. 6.40  a share. LOLC Finance closed 10 cents down to Rs. 6.30.

Hayleys  closed 20 cents up at Rs. 76.30  with key subsidiaries Dipped Products gaining 20 cents to close at Rs. 55.50  and Haycarb PLC gained 50 cents to close at Rs. 104.25.

JKH closed 75 cents down at Rs. 141.00  a share and Vallibel One up 10 cents to close at Rs. 54.40  a share.

Royal Ceramic Lanka closed 10 cents up at Rs. 35.00, Lanka Ceramic closed flat at Rs. 126.00, Lanka Tiles fell 40 cents to close at Rs. 45.20  and Lanka Walltiles gained 70 cents to close at Rs. 47.20.