Colombo Stock Exchange (CSE) turnover starts the week at embarrassing levels

June 25, 2018 (LBO) - Colombo stocks started the week slowly with both major Sri Lanka equity indices (ASPI and S&P SL 20) finishing slightly in the red. Turnover was Rs176mn (US$1.1mn), one of the lowest figures for 2018.  Experts say that these levels of turnover depict a market that appears nonfunctional, particularly to foreign institutional investors. The trend of foreign selling continued with net foreign sales of Rs18mn (US$110,000). The trading week is shortened with a poya (full moon) day this week.  The holiday is likely causing many market participants to be disengaged.