Bourse hit by market instability

By Hiran H.Senewiratne

The Colombo Stock Exchange (CSE) did not perform well yesterday, unlike in the previous couple of days due to market volatility. The reasons for such volatility are the possible Cabinet reshuffle, the speculation of a new tax pension fund and stock taking. This resulted in both indices going down. All Share Price Index went down by 19.7 points and S and P SL20 index down by 20 points.

Yesterday the CSE turnover plummeted to Rs. 629.2 million with one crossing. The crossing was Tokyo Cement, which crossed one million shares for Rs. 77.5 million.

Under the normal market scenario the companies that contributed mainly to the day's turnover were TJL Rs. 148.6 million (3.6 million shares traded), Sunshine Travels  Rs. 75.8 million (1.2 million shares traded) and JKH Rs. 39.2 million (236,000 shares traded). During the day  27.6 million shares changed hands in 5172 transactions.

Meanwhile, JKSB reported on CSE trading as follows:

ASPI: 6,697.90 (-20.44 pts; -0.30%); Val T/O: Rs. 629mn (US$4.12mn); Vol T/O: 27.6mn; Trades: 5,172

Advance/decline ratio: 97/97; Top gainer: NIFL.N (+24.87%) ; Top loser: PCH.N (-50.00%)


• The ASPI ended lower today amid moderate market turnover. Selected manufacturing, diversified, and banking & finance counters led activity levels including a crossing witnessed in TKYO. Trading in TJL amounted to 24% of total turnover.

• Manufacturing was the most actively traded sector (-0.45%)

• Services was the best performing sector (+2.22%), supported by gains on JKL (+2.45%)

• Information Technology was the worst performing sector (-5.89%), dragged down by declines on ECL

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