Colombo Turnover Jumps Over Fourfold as Large Crossing Masks Continued Foreign Selling
CSE turnover surges 443% above average on one large crossing; headline foreign outflow masks net buying elsewhere in the market.
CSE turnover surges 443% above average on one large crossing; headline foreign outflow masks net buying elsewhere in the market.
CSE turnover hit LKR 8.5Bn as Cargills drove 48% of trading and nearly all foreign selling. ASPI gained 0.40% to close at 21,167.
Colombo Stock Exchange turnover hit LKR 2.96bn, 56.6% above the monthly average, driven largely by crossing deals in RIL, AEL and JKH.
Foreign investors net-sold LKR 1.03bn in CSE equities in one session, led by RIL, as YTD foreign outflows pass LKR 37 billion.
CSE foreign flows turned positive at LKR 955Mn, but one counter drove the inflow. YTD foreign outflows remain at LKR 36.3Bn.
CSE turnover hit LKR 4.3Bn, 150% above the monthly average, even as the ASPI and S&P SL20 closed marginally lower.
One counter accounted for 51% of Colombo Stock Exchange turnover and volume in a session where overall trading activity ran above the monthly.
Foreign funds posted a net outflow on the CSE even as the ASPI rose, extending a selling trend that has topped LKR 37.
A small daily foreign inflow on the Colombo Stock Exchange is dwarfed by a LKR 36.2 billion year-to-date foreign outflow trend.
JKH accounted for 32% of Colombo Stock Exchange turnover as Capital Goods stocks dominated trading, raising questions about market breadth.