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23rd of July 2018

Economy



Selling accelerates as Colombo stocks hit new lows for 2018

July 2, 2018 (LBO) – The markets started the month of July on the same course they have been for the year.  The days selloff was slow and steady through the session with both major indices dropping over 1%.

The all share price index (ASPI) finished down 1.07%, and the S&P SL 20 was off 1.2%

The ASPI and S&P SL 20 now sit down 3.8% and 8.8% respectively year to date.

Market turnover was tepid at Rs755mn (US$4.8mn).

The trend of foreign selling continued as net foreign sales were Rs311mn (US$2mn).

Index heavyweight John Keells Holdings (JKH) led the market lower down close to 2%, while trades in the country’s largest listed bank (COMB) accounted for 58% of market turnover

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