ECONOMYNEXT – The Colombo Stock Exchange closed down on Wednesday after some volatility, data on its site showed.
The broader ASPI closed down 0.02 percent, or 2.68 points, at 17,117.18; while the more liquid S&P SL20 Index closed down 0.65 percent, or 33.54 points, at 5,126.31.
Turnover was 8.4 billion. There was a net foreign outflow of 923.9 million rupees.
“The market started out positive, before becoming volatile and closing broadly slack,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC, told EconomyNext.
Major contributing sectors were capital goods (Rs2.9bn), banks (Rs1.8bn) and food beverage and tobacco (Rs1bn).
“Due to the month-end, there’s some selling happening with profit taking,” Mathew said.
“However, buying interest is not lost; Interest was coming back into banks today.”
Commercial Bank closed down at 148.00 rupees, Sampath Bank closed down at 119.25 rupees, HNB closed down at 353.25 rupees, NDB closed down at 126.25 rupees, and DFCC closed down at 127.75 rupees.
“There’s also interest coming into financial sector stocks because of the opening up of the vehicle import ban.”
People’s Leasing and Finance was up at 20.30 rupees, LOLC Finance was up at 7.00 rupees, Commercial Credit and Finance was up at 60.60, and Associated Motor Finance was up at 36.50 rupees.
“There was also sizable interest coming into construction stocks, mainly Access Engineering [up at 40.40 rupees].”
Top positive contributors to the ASPI were Access Engineering, Hayleys (up at 143.25), Carson Cumberbatch (up at 447.00 rupees), Bukit Darah (up at 683.75 rupees), and Browns Investments (up at 9.30 rupees). (Colombo/Jan29/2025)
