Below 50 per cent daily turnover at CSE; economic growth hitting rock bottom



By Hiran H. Senewiratne


The Colombo Stock Exchange (CSE) recorded below 50 percent of daily turnover yesterday. The turnover was one of the lowest in the recent past which stood at Rs. 396.5 million. The Census and Statistics Department  withdrew the   2017 full-year and fourth quarter gross domestic product data on Friday, a day after posting the country’s worst
economic growth in 16 years, The on going UNHRC session and many other factors affected the market too, analysts said.


Further, profit taking by big cap counters also added insult to injury. Amid those developments both indices moved down, ie, the All Share Price Index 15.83 points and S and P SL20 11.98 points. During the day three crossings took-place. Those were: Commercial Bank 609,000 shares crossed for Rs. 82.5 million, per share value Rs. 135.50, Sampath Bank 82,500 shares crossed for Rs. 25.1 million and Commercial Bank (Non Voting) 187.000 shares crossed for Rs 20.2 million per share value Rs. 108.


When it comes to retail market companies that mainly contributed to the day's turnover: Tokyo Cement Rs. 56 million (1.04 million shares traded), Commercial Bank Rs. 30.7 million (226,000 shares) and Sampath Bank Rs. 18.7 million (62,0300 shares traded). During the day, 9.97 share volumes changed hands in 3859 transactions."Market is up in low-volume trades in some blue chips.  Investors were worried about the lower economic growth in 2017." market analysts told The Island Financial Review


Meanwhile, CSE has approved in principal an application for listing of Basel three compliant debt securities of DFCC bank.


JKSB reports -


ASPI: 6,494.24 (-15.22 pts; -0.23%); Val T/O: Rs. 396mn (US$2.55mn); Vol T/O: 9.9mn; Trades: 3,859


Advance/decline ratio: 85/105; Top gainer: MORI.N (+17.86%) ; Top loser: BLUE.X (-25.00%)


Highlights:


• The ASPI ended lower amid weak turnover levels. COMB, TKYO, SAMP led market activity including crossings with trading in COMB amounting to 29% of total turnover.


• Banks, Finance, & Insurance was the most actively traded sector (-0.08%)


• Healthcare was the best performing sector (+0.69%), supported by gains on ASIR (+2.13%)


• Trading was the worst performing sector (-1.94%), dragged down by declines on CTBL (-2.56%)


 
 
 
 
 
 
 
 
 
 
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