LNP – Shares end lower for a fourth straight session

Trading activities at the Colombo Stock Exchange (CSE) yesterday were negative and shares ended lower for a fourth  straight session, dragged down by losses in financials and sluggishness at consumer counters. Amid this development, selling pressure surged over buying interest, stock market analysts said.

GDP contracted 3.6 percent  during 2020 due to the COVID-19 pandemic and  recorded declines in all its three major economic sectors i.e. agriculture, industry and services  for the first time in history, market analyst said.

In this backdrop, both indices moved downwards. All Share Price Index was down by 113.90 points and S&P SL20 down by 42.32 points. Turnover stood at Rs 1.29 billion with a single crossing. The crossings reported in Ceylon Cold Stores (CCS), which crossed , million shares to the tune of Rs 46.4 million and its share price traded at Rs 616.

In the retail market top five companies that mainly contributed to the turnover were JKH rS 130.3 million (880,000 shares traded), Expolanka Rs 113 million (6.2 million shares traded), Browns Investment Rs 95 million (19 million shares traded ), Hayleys Rs 79 million (1.4 million shares traded) and LOLC Rs 77 million (268,000 shares traded). During the day 65.3 million share volume changed hands in 14,600 transactions.