Stocks continue slide to new 2018 lows as turnover dries up

July 4, 2018 (LBO) – The Colombo Stock Exchange continued its 2018 slide as stocks finished at new lows for the year.  Both major stock market indices continued their drip lower finishing down just over .6%.

Turnover was very weak at Rs261mn (US$1.65mn), with trades of market bellwether JKH accounting for almost 40% of total market turnover.  JKH was down 1.3% on the day.

The trend of foreign selling continued as net foreign sales were Rs82mn (US$520,000).

Year to date the All Share Price index (ASPI) is down 5.11% and the S&P SL20 is down 10.65%.

With stocks finishing at their lows of the day, analysts say more downward pressure is expected.