CSE begins new week on bullish note

Tuesday, 21 January 2025 02:03 - - {{hitsCtrl.values.hits}}

The Colombo stock market began a fresh full week on a positive note, with investors sustaining bullish sentiments.

The benchmark ASPI gained by over 115 points or 0.7% and the active S&P SL20 by 0.6%.

Turnover was Rs. 5.5 billion involving 187 million shares.

First Capital said the market experienced a day of positive sentiment, maintaining positive momentum throughout the day. The ASPI closed at 16,373, which depicts an increment of 0.71%, attributed to an increase in both HNW and retail participation.

Investor attention was focused on Banking sector counters such as DFCC, HNB, PABC, and NDB. Increased buying interest was noted in TJL, resulting in the stock price responding positively. NDB, TJL, DFCC, CCS, and HNB emerged as the top positive contributors to the index. SIRA attracted HNW and retail attention, contributing to a significant portion of today’s turnover. Overall, the Capital Goods sector led the turnover with a 24% contribution, followed by the Banking and Food, Beverage and Tobacco sectors jointly contributing 36%.

There was a net foreign outflow of Rs. 55.3 million, signalling interest in external investments.

NDB Securities said high net worth and institutional investor participation was noted in Sierra Cables, Teejay Lanka, and Amana Bank. Mixed interest was observed in DFCC Bank, Hatton National Bank, and National Development Bank, whilst retail interest was noted in LOLC Finance, Browns Investments, and Ceylon Land & Equity.

The Capital Goods sector was the top contributor to the market turnover (due to Sierra Cables) whilst the sector index edged down by 0.09%. The share price of Sierra Cables increased by Rs. 1.30 to Rs. 14.90.

The Banking sector was the second highest contributor to the market turnover (due to DFCC Bank and Hatton National Bank) whilst the sector index increased by 0.96%. The share price of DFCC Bank moved up by Rs. 3 to Rs. 122.25. The share price of Hatton National Bank recorded a gain of Rs. 2.25 to Rs. 330.

Teejay Lanka and CIC Holdings were also included amongst the top turnover contributors. The share price of Teejay Lanka gained Rs. 3.10 to Rs. 52.60. The share price of CIC Holdings appreciated by Rs. 5 to Rs. 101.50.