ECONOMYNEXT – The Colombo Stock Exchange closed down on Monday, data on its site showed.
The broader All Share Index closed down 0.56 percent, or 68.05 points, at 12,076; while the more liquid S&P SL20 Index closed down 0.63 percent, or 22.71 points, at 3,565.
Turnover was 686 million. This was lowest since June 3.
Most of this came from two crossings: John Keells Holdings and Plc (Rs107mn), share closed up at 204.00, and Hayleys Plc (Rs140mn), the share closed down at 105.00.
“These were from local institutions,” Softlogic Stockbrokers said. “Market was very, very slow today. Buying and selling was low on all counters.”
Banking stocks closed down or flat in the day. Commercial Bank of Ceylon Plc was down at 104.25, Sampath Bank Pc was down at 77.60, and Hatton National Bank Plc was down at 201.75.
“Even the high net worth individuals and institutions are now hesitant after it was announced that the terms and agreements of the debt restructuring will be out in a week. Even the bigger players now want to see how this plays out.”
“This has made retail investors panicked.”
Foreign interest was very low, they said. There was a net foreign inflow of 3 million. (Colombo/Jul1/2024)