The Colombo Stock Exchange experienced a downturn on Wednesday, as reflected in data on its website. The broader All Share Index closed down by 0.55 percent, or 67.69 points, settling at 12,291, while the S&P SL20 Index closed down by 0.94 percent, or 34.57 points, ending at 3,636. Turnover for the day amounted to 3.2 billion.
Market participants noted that the day saw some volatility, with profit-taking activities evident. Despite several banks posting positive results, there was selling pressure on bank shares. Notable declines were observed in Hatton National Bank Plc, National Development Bank Plc, Sampath Bank Plc, and Dfcc Bank Plc.
In corporate news, Hatton National Bank’s interim accounts for March 2024 revealed a 2 percent growth in profits, reaching 7.2 billion rupees, attributed to lower provisioning and the performance of its insurance unit. Meanwhile, Ambeon Capital Plc witnessed significant trading volume, with its share closing down at 14.30. Notable contributors to the index included conglomerate Aitken Spence Plc, Harischandra Mills Plc, and Nations Trust Bank Plc, the latter defying the downward trend in banking shares. The day concluded with a net foreign inflow of 772 million.