CSE turnover drops to Rs. 68.7 million

Colombo (News 1st)-The turnover of the Colombo Stock Exchange dropped to 68.7 million rupees today, the lowest turn over reported since 28th April 2009. Even though the Bourse reverted back into the positive sentiment the ASPI witnessed a volatile sideways movement reaching an intraday low of 6,051 and closed at 6,068, gaining 9 points. The Turnover recorded a decade low while a net foreign inflow was witnessed amidst low foreign participation. According to data revealed by the CSE, the Colombo stock exchange performed 6% less during the end of 2018, when compared with the same time frame the previous year. The drop in turnover comes after net foreign outflow followed with frantic foreign selling in the second half of 2018. Foreign selling as at the end of last year stood at 22.8 billion rupees, opposed to foreign buying the previous year at 17.7 billion rupees. Data from the stock shows that compared to 2017 net turnover had dropped to 199.4 billion rupees in 2018, against 220.6 billion in 2017.