JOHN KEELLS HOLDINGS

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CSE remains bearish

01/30/2020 | 08:17am

The Colombo stock market continued its bear run with both indices down ASI by 50 points and S and P SL20 by 26 points midst low turnover though foreigners remained net buyers for the second consecutive day.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as John Keells Holdings, Ceylon Tobacco Company and Browns Investments with the turnover crossing Rs. 256 million. Similar behavior was witnessed in the S and P SL20.

High net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in Browns Investments, Commercial Bank and LOLC Holdings while retail interest was noted in Access Engineering.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

The Capital Goods sector was the top contributor to market turnover (due to John Keells Holdings and Access Engineering) while the sector index lost 1.34%. The share price of John Keells Holdings decreased by Rs 3.40 (2.07%) to close at Rs. 160.50. The share price of Access Engineering declined by Rs. 0.10 (0.51%) to close at Rs. 19.70.

The Banks sector was the second highest contributor to the market turnover (due to Commercial Bank) while the sector index decreased by 0.48%. The share price of Commercial Bank closed flat at Rs. 93.

Browns Investments and LOLC Holdings were also included amongst the top turnover contributors. The share price of Browns Investments lost Rs. 0.20 (3.92%) to close at Rs. 4.90. The share price of LOLC Holdings moved down by Rs. 1.30 (0.85%) to close at Rs. 152.

© Pakistan Press International, source Asianet-Pakistan

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