ECONOMYNEXT – The Colombo Stock Exchange closed down on Monday, data on its site showed.
The broader All Share Index closed down 0.30 percent, or 37.52 points, at 12,311; while the S&P SL20 Index closed down 0.45 percent, or 16.44 points, at 3,650.
Turnover was low at 494 million. This was the lowest since January 18.
“It was a slow day. There’s a wait-and-see approach when it comes to buying because of tomorrow’s monetary policy announcement,” market participants said.
“There’s also a bit of disappointment, like in October-November, that there is a delay in the external debt restructure news and a signing of MoUs with bilateral creditors, so there’s selling pressure too.”
Banking stocks fared poorly in the day. With the exception of Hatton National Bank Plc, which closed up at 198.75, and Sampath Bank Plc which closed up at 78.20, all other banking stocks closed down or flat.
Malwatte Valley Plantation Plc (up at 59.80), SMB Finance Plc (up at 0.70) and Industrial Asphalts (Ceylon) Plc (up at 0.40) were among the top contributors of the day.
There was a net foreign inflow of 7.9 million. (Colombo/May27/2024)