Net foreign buying at CSE after months

• Net foreign buying at Rs.30mn

The Colombo Stock Exchange (CSE) yesterday witnessed net foreign buying may be after at least a couple of months, although the market indices closed in the negative territory.

The CSE recorded net foreign buying of Rs.30 million yesterday, as total foreign purchases amounted to Rs.88 million while total foreign sales amounted to Rs.58 million.

During the last few months, foreigners have been on the selling side and local investors showed firepower and appetite to absorb the shares shed by foreign investors.

The government presented its budget for 2021 this Tuesday, which is viewed as broadly in consistent with the government’s fiscal and tax policies. 

Brokers said net foreign buying was witnessed in counters such as Chevron Lubricants, Vallibel Power, Melstacorp, Distilleries and Haycarb while foreigners sold Softlogic Life Isurance, Central Industries, Hemas, Dipped Products and HNB.

The benchmark All Share Price Index closed 47.33 points or 0.77 percent down at 6, 060.89 while the more liquid S&P SL20 Index closed 9.38 points or 0.39 percent down at 2, 387.88.

The day’s turnover was Rs.1.4 billion.