Bourse up on ASI, bearish with S&P SL20

Thursday, 26 September 2019 02:09 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday made a welcome return to positive territory as far the All Share Price Index (ASPI) though remained negative in terms active blue stocks.

Acuity Stock Brokers aid the Bourse ended on a mixed note as the ASPI increased by 0.33% or 18.86 points while the S&P SL20 Index decreased by 0.20% or 5.53 points.

Market Turnover decreased by 15.3% relative to Tuesday’s to amount to Rs. 220 million while the turnover of PABCN accounted for 37.2% of total.

Foreign Investors recorded a net inflow of Rs. 13 million over the day compared to a net outflow of Rs. 98.5 million the previous day.

NDB Equities aid the ASPI closed in green as a result of price gains in counters such as Distilleries, Dialog Axiata and Cargills with the turnover crossing Rs. 220 million.

High net worth and institutional investor participation was noted in Pan Asia Banking Corporation and Dialog Axiata. Mixed interest was observed in Union Bank whilst retail interest was noted in Browns Investments. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Pan Asia Banking Corporation, Sampath Bank and Union Bank) whilst the sector index gained 0.17%. The share price of Pan Asia Banking Corporation increased by Rs. 0.20 (1.56%) to close at Rs. 13.00. The share price of Sampath Bank lost Rs. 1.00 (0.65%) to close at Rs. 152.50. The share price of Union Bank moved down by Rs. 0.30 (2.17%) to close at Rs. 13.50.

Diversified sector was the second highest contributor to the market turnover (due to Browns Investments) whilst the sector index edged down by 0.12%. The share price of Browns Investments appreciated by Rs. 0.10 (2.38%) to close at Rs. 4.30.

Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata recorded a gain of Rs. 0.20 (1.92%) closing at Rs. 10.60 whilst foreign holdings increased by 1,378,953 shares.