• Mon. Apr 22nd, 2024

CSE plunges to a 3-month low amidst DDR concerns

The Colombo Bourse wrapped the session up in red as its main index, All Share Price Index (ASPI) commenced the week on a negative note losing 105 points and hitting a 3-month low to close the day at 8,611 points.

Commercial Bank of Ceylon (COMB) topped the chart as a top negative contributor to the index as the investors were on the selling side amidst uncertainty and concerns of the Domestic Debt Restructuring (DDR) announcement that is yet to be released later this week.

Furthermore, LIOC also caused the index to ease lower with the Sri Lankan government’s recent signing of the contract agreement with Sinopec Fuel Oil Lanka (Pvt) Ltd for a long-term contract on import, storage, distribution and sale of petroleum products in the local retail market.

On the positive side, Elpitiya Plantation was amongst the active shares traded today as they announced a notable dividend of Rs.19.00 to its shareholders. Meanwhile, the market turnover was recorded at Rs. 599.0, 19.3% lower than the monthly average of Rs. 742.1 aided by the Capital Goods sector (32%), Food, Beverage and Tobacco sector (22%) and Materials sector (20%) respectively.

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