Colombo bourse started November with a lackluster trading session as the investor sentiment continued to remain on negative side. All share index declined by 0.18% or 12.99 index points to close the session at 7,029.07 while 20-scrip S&P SL index shed 6.21 index points (-0.16%) to end at 3,796.79.

Price depreciations in high caps such as People’s Leasing & Finance (closed at LKR 21.00, -3.7%), Dipped Products (closed at LKR 119.50, -11.6%) and CT Holdings (closed at LKR 135.00, -3.3%) drag the index performance to red zone.

Daily market turnover was a 14 week low of LKR 425mn. Renuka Foods topped the turnover list with LKR 71mn followed by Textured Jersey (LKR 60mn), Hayleys (LKR 59mn) and Pan Asia Bank (LKR 43mn).

Several crossings were recorded in Hayleys (0.2mn shares at LKR 323.00), Pan Asia Bank (1.3mn shares at LKR 28.80) and Textured Jersey (1.6mn shares at LKR 31.10). Aggregate value of crossings represented 34% of the total turnover.

Market breadth was negative where 103 counters declined, 74 counters advanced while 56 remained unchanged. Cash map improved from 32% to 57%. 19 counters touched 52wk low price levels and only Ceylon Printers managed to reach 52wk high price of LKR 3,200.00.

Hayleys Fibre continued to attract heavy investor preference and counter closed at LKR 72.00, up by 7.6%. Subsequent to the negative interim results of Dipped Products, the counter declined to a 52wk low price of LKR 115.00.

Textured Jersey, Janashakthi Insurance rights and People’s Leasing & Finance were among heavily traded counters. High cap banks such as DFCC Bank, Hatton National Bank, National Development Bank and Sampath Bank closed with negative returns.

Moreover, Equity One announced that the board has resolved to delist the company from CSE. Directors have agreed with the Carson Cumberbatch for the purchase of shares at a price of LKR 77.50 per share. Further, trading in shares of Equity One was suspended as per the SEC rules.

Meanwhile, CSE has approved for listing of 50mn debentures of Access Engineering at LKR 100.00 each to raise LKR 5bn. The issue will open for the subscriptions on 12th November 2015.

Foreign investors were net buyers after 3 straight sessions of net selling with a net inflow of LKR 22mn. Foreign participation declined to 6%. Net foreign inflows were seen in Ceylon Cold Stores (LKR 10mn), John Keells Holdings (LKR 5mn), Distilleries (LKR 4mn) while net foreign outflow was mainly seen in Ceylon Grain Elevators (LKR 3mn).