Colombo bourse closes negative in August amid profit-taking

The Colombo bourse closed negative in August, with the benchmark All Share Price Index (ASPI) declining 2.4 percent month-on-month (MoM) to 11,114 points. The more liquid S&P SL20 index declined 5.4 percent MoM to 3,131 points. 
According to CT CLSA, the average daily turnover decreased to Rs.3,280 million in August 2023, from Rs.3,655 million in July 2023. 
The top contributors to the monthly turnover were John Keells Holdings (Rs.7,568 million, 41 million shares), Capital Alliance (Rs.3,234 million, 45 million shares) and National Development Bank (Rs.2,595 million, 32 million shares).

Net foreign inflows recorded at Rs.1,805 million in August 2023, down from Rs.2,231 million in July 2023. 
During the month, net foreign buying was seen in Melstacorp (+Rs.1,010 million), National Development Bank (+Rs.976 million) and Commercial Bank of Ceylon (Voting) (+Rs.285 million), while net foreign selling was seen in Commercial Credit and Finance (-Rs.991 million), John Keells Holdings (-Rs.405 million) and DFCC Bank (-Rs.89 million).