All Share Price Index gains to 4-month high

The benchmark All Share Price Index (ASPI) rose to its highest level in 4 months yesterday as the Colombo Bourse remained positive amidst low turnover. 

The ASPI gained by 0.2% or 17 points to close at 7,743 points which NDB Securities said as highest in four months. The S&PSL20 however closed negative for the second consecutive day, down by 38 points.  Turnover was Rs. 1.9 billion involving 67.6 million shares. 

NDB said the ASPI closed in green as a result of price gains in counters such as Carson Cumberbatch, LOLC Development Finance and Bukit Darah.

It said high net worth and institutional investor participation was noted in Hatton National Bank nonvoting. Mixed interest was observed in Associated Motor Finance Company, Bukit Darah and Expolanka Holdings, whilst retail interest was noted in Browns Investments, Dialog Axiata and SMB Leasing nonvoting. 

Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Bukit Darah and Browns Investments), whilst the sector index gained 2.04%. The share price of Bukit Darah gained Rs. 81.00 (28.98%) closing at Rs. 360.50 whilst foreign holdings decreased by 240,566 shares. The share price of Browns Investments declined by Rs. 0.10 (1.61%) to close at Rs. 6.10.

Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), whilst the sector index increased by 1.60%. The share price of LOLC Holdings recorded a loss of Rs. 8.25 (1.98%) to close at Rs. 408.50.

Expolanka Holdings and Hatton National Bank nonvoting were also included amongst the top turnover contributors. The share price of Expolanka Holdings decreased by Rs. 0.50 (0.99%) to close at Rs. 50.10. The share price of Hatton National Bank nonvoting closed flat at Rs. 110.00.

Separately Tokyo Cement Company announced an interim dividend of Rs. 1.25 per share.

First Capital said the ASPI managed to close in the green territory on the back of profit taking in selected counters, amid the dull sentiment prevailing in the market. 

“Index witnessed a volatile trend since the beginning of the session followed by a downturn over the latter part of session reaching an intraday low at 7,723 before closing at 7,744 gaining 17 points,” First Capital said. 

It said turnover was led by the Food, Beverage and Tobacco sector followed by the Diversified Financials sector accounting for a joint contribution of 41%.