CSE recovers ASPI and S&P making gains during trading

Colombo-Stock-Exchange

Mar 12, 2020 (LBO) – The Colombo bourse recovered some of its losses after Wednesdays panic selling which led to the indices falling to an 8 year low, a market report said.

Positive sentiments set by global markets on renewed hopes of government stimulus and recovery in oil prices led to price gains.

Price gains on SLTL, JKH, CLC, HNB and BIL led to the ASPI and S&P SL20 adding 82.61 and 44.05 points to close at 5,204.52 and 2,405.80 respectively.

AEL and TJL emerged as the top turnover contributors while also emerging among the top 5 volume wise, cumulatively contributing 32% and 24% respectively, backed by foreign buying.

Fragmented interest was also seen on low valued counters like BIL, EXPO and SIRA. Foreigners were seeing entering the market posting a net foreign inflow of LKR 26mn, with foreign selling amounting to 16% of the days turnover.

TJL witnessed the highest net foreign inflow of LKR 49mn while the highest net foreign outflow were seen on ACL amounting to LKR 11.5mn Price gainers outweighed losers 132 to 36.