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CSE loses steam with Presidential resignation delay

15 Jul 2022

  • Week started with highest performance in over a month
  • Turnover down by 43% from previous market day
  • ACME Printing, Asia Asset Fin, Hayleys biggest losers for the day
By Imesh Ranasinghe  The Colombo Stock Exchange fell yesterday (14), ending the momentum it gained earlier in the week, as the political crisis worsened in the aftermath of protests, as hopes of new leadership were prolonged with President Gotabaya Rajapaksa not submitting his resignation as promised even by the end of trading hours. Accordingly, the All-Share Price Index (ASPI) fell by 47.43 (-0.64%) to 7,318.24 by the end of trading hours, and the S&P SL20 fell by 15.14 (-0.64%) to 2.350.08, The day’s turnover was recorded at Rs. 625.8 million down by 43% from the turnover recorded on the previous market day (Tuesday, 11). A total of 44.5 million shares were traded within the day. Moreover, the ASPI fell by 80.98 points and S&P SL 20 by 43.93 within the first minute of trading after the market opened on Thursday. The biggest losers for the day on the main board were ACME Printing and Packaging PLC (ACME), as the share price dropped by Rs 0.10 (-33.33%), Asia Asset Finance PLC (AAF) by Rs 2.70 (-25%), and Hayleys Fabric PLC (HEXP) by Rs 4.30 (-7.28%). The biggest loser of the Diri Savi Board was Laugfs Power PLC (LPL), as the share price fell by Rs 1.30 (-12.38%). The top gainers on the main board were Renuka Food PLC (COCO), as the share price gained by 18.57%, and Batalagoda Plantations PLC (BALA) by 10.84%, with a turnover of Rs. 14 million. The highest turnover was recorded by Expolanka Holdings PLC (EXPO) at Rs. 105 million, although the shares fell by 3.07%, while Lanka IOC PLC (LIOC) also recorded a turnover of Rs. 47 million with the resumption of fuel distribution.

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