Daily Mirror - Print Edition

Market continues to lose steam amid spike in COVID-19 cases

22 Oct 2020 - {{hitsCtrl.values.hits}}      

  • ASPI and S&P SL20 fall over 4%
  • However, turnover tops Rs.3.2bn
  • Foreigners continue as net sellers

Signalling a loss in steam after a belligerent positive run, the Colombo Stock Exchange (CSE) ended in negative territory for the second day in a row, amid Sri Lanka recording a higher number of COVID-19 cases and the key Gampaha district going into a temporary lockdown.


The CSE’s All Share Price Index (ASPI) lost 249.56 points or 4.21 percent, to close at 5684.67, while the more liquid S&P SL 20 lost 99.96 points or 4.19 percent, to close 
at 2,287.60.However, the CSE continued to produce billion in turnover as per the recent norm, recording Rs.3.2 billion turnover for yesterday. 


According to NDB Securities, the ASPI closed in red, due to price losses in counters such as John Keells Holdings, Carson Cumberbatch and 
Expolanka Holdings


“High-net-worth and institutional investor participation was noted in John Keells Holdings and Cargills. 

Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company voting and non-voting whilst retail interest was noted in Hatton National Bank,” NDB Securities said.


Foreign participation in the market remained at subdued levels, with foreigners ending as net sellers. The foreign net outflow for yesterday amounted to Rs.166.3 million, compared to Tuesday’s net foreign outflow of Rs.129.6 million. 


The year-to-date foreign net outflow now tops Rs.44 billion.