Stocks down on first trading day in 2020

The Colombo Stock Exchange (CSE) closed the first day of trading in 2020 on a negative note with both indices losing ground.

The benchmark All Share Price Index lost 26.68 points or 0.34 percent to close at 6, 108.53 while the more liquid S&P SL20 shed 7.87 points or 0.27 percent to close at 2, 929.09.

The day’s turnover stood at Rs.505.5 million. The average turnover for last year was Rs.711 million. Foreigners ended up as net sellers with foreign outflow of Rs.36.7 million and their participation in terms of turnover fell to 5.3 percent from previous day’s 22.2 percent.

There were no crossings recorded for the day. According to Asia Securities, diversified sector was the highest contributor towards revenue with Rs.232 million followed by bank, finance & insurance sector and trading sector, generating Rs.1285.7 million and Rs.47.5 million respectively.

Estimated net foreign selling topped in Ceylon Tobacco Company PLC. 

Retail activity was witnessed in counters such as LOLC Holdings, Browns Investments PLC and Brown & Company PLC.