Indices at CSE down amid higher coronavirus cases

The indices at the Colombo Stock Exchange (CSE) ended in negative territory yesterday, amid concerns regarding a higher number of COVID-19 positive cases discovered throughout the island.

The benchmark All Share Price Index lost 99.61 points or 1.73 percent to close at 5,669.33, while the more liquid S&P SL20 Index lost 43.09 points or 1.88 percent to close at 2,254.79.

The day’s turnover crossed Rs.1 billion.

Both the ASPI and S&P SL20 fell 3 percent each last week.

NDB Securities cited price losses in counters such as John Keells Holdings, Carson Cumerbatch and Ceylon Tobacco as the main reason for the decline in the benchmark index yesterday.

“High-net-worth and institutional investor participation was noted in Teejay Lanka. Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company non-voting and Dipped Products, whilst retail interest was noted in Tokyo Cement Company, John Keells Holdings and Piramal Glass,” NDB Securities said.

Foreign participation in the market remained at subdued levels with foreigners closing as net sellers. Total foreign purchases amounted to Rs.66 million while total foreign sales were at Rs.86 million.