CSE manages to remain on the up

Friday, 17 January 2025 00:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday managed to sustain its upward momentum though marginally amidst higher turnover.

The benchmark ASPI gained by 0.4% and the active S&P SL20 by 0.2%. Turnover was Rs. 5 billion involving 158 million shares.

First Capital said the bourse experienced a day of positive sentiment and increased momentum. The most significant contributors towards the positive index were COMB, TKYO, LIOC, ACL, and AEL. Heightened positive activity amongst Banking sector stocks was also observed. The lack of crossings demonstrated increased participation from retail investors and a decline in participation from HNW investors. Banking sector led the turnover by 26%, followed by the Capital Goods and Energy sectors jointly contributing 32% of the overall turnover. There was a net foreign inflow of Rs. 194.5 million.

NDB Securities said high net worth and institutional investor participation was noted in Hatton National Bank, Lanka IOC and John Keells Holdings. Mixed interest was observed in ACL Cables, Sampath Bank and Browns Investments whilst retail interest was noted in Panasian Power, LOLC Finance and LVL Energy Fund.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank) whilst the sector index gained 0.59%. The share price of Hatton National Bank decreased by Rs. 1.50 to Rs. 328.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and ACL Cables) whilst the sector index decreased by 0.18%. The share price of John Keells Holdings moved down by 10 cents to Rs. 23.90. The share price of ACL Cables recorded a gain of Rs. 4.50 to Rs. 124.50.

Lanka IOC and Dialog Axiata were also included amongst the top turnover contributors. The share price of Lanka IOC gained Rs. 3.25 to Rs. 130.75. The share price of Dialog Axiata appreciated by 10 cents to Rs. 12.20.