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Dip in foreign outflow encouraging investors to remain in local market

The Central Bank’s certain policy decisions have positively impacted CSE activities as the foreign outflow had come down considerably yesterday, stock market analysts said.

The dip in foreign outflow has been encouraging foreign investors to remain in the market without exiting, stock market sources said

It is said that a net outflow of foreign investment amounting to US $ 90 million was recorded from the rupee-denominated government securities market in April 2020, resulting in a cumulative net outflow of US $ 451 million during the first four months of 2020, the Central Bank said yesterday.

There were no foreign investment flows in the CSE in April 2020 due to the suspension of trading from mid-March 2020 until mid-May 2020. Gross inflows on account of long term loans to the government amounted to US $ 137 million in April 2020.

Amid those developments both indices moved upwards, ie, the All Share Price Index was up by 44.6 points and S and P SL20up by 35.61 points. The day’s turnover stood at Rs. 1.61 billion with three  crossings. Those crossings were reported from Hemas Holdings which crossed 1.9 million shares to the tune of Rs. 114 million at a per share value of Rs. 60, Brown and Company 395,000 shares crossed for Rs. 25.7 million, per share value Rs. 65 and Commercial Bank 300,000 shares crossed for Rs. 22.5 million, per share value Rs. 75.

In the retail market, the top five companies that contributed to the day’s turnover were, HNB Rs. 192.2 million (1.7 million shares traded), Commercial Bank Rs. 169.5 million (2.2 million shares traded), HNB (Non Voting) Rs. 90 million (one million shares traded), Royal Ceramic Rs. 84.6 million (1.2 million shares traded) and JKH Rs. 79.3 million (651,000 shares traded). During the day 83.2 million share volumes changed hands in 14668 transactions.

Lankanewspapers

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