Friday Nov 15, 2024
Friday Nov 15, 2024
Wednesday, 19 April 2023 00:00 - - {{hitsCtrl.values.hits}}
The Colombo stock market remained lacklustre with indices producing mixed performance and relatively low volume.
The active S&P SL20 gained by 1.4% whilst the benchmark ASPI dipped by 0.6%. Turnover was Rs. 1.1 billion involving 58.4 million shares.
Asia Securities said the ASPI remained in red territory mainly due to price losses in banking stocks COMBN (-4.6%), SAMP (-1.0%), and NTBN (-1.1%) while front-liners BIL (-1.6%), LIOC (-2.1%), SCAP (-1.9%), LOLC (-2.0%), and RCL (-1.4%) scaled price declines during the session.
On the other hand, DIAL (+2.9%), SLTL (+1.9%), ASIR (+5.6%), GLAS (+2.1%), and HAYC (+1.7%) saw price gains in an otherwise negative session. COMBN (-21.6 points) ended as the biggest laggard on the ASPI for the day. Overall, 59 stocks ended in green while 118 settled with losses.
Turnover was driven by EXPO (Rs. 230 million), JKH (Rs. 138 million), and DIAL (Rs. 131 million).
Foreigners came in as net buyers generating a net inflow of Rs. 54 million led by EXPO (Rs. 69 million), TKYOX (Rs. 64 million), and SPEN (Rs. 46 million) while JKH (Rs. 66 million), and DIAL (Rs. 65 million) topped net foreign outflows during the session.
First Capital said the bourse commenced on a positive note but towards the second half of the day, the index had a downward strike due to lack of investor interaction.
The ASPI was shown in red, closing at 9,346 losing 60 points. The banking sector was the biggest drag on the index on the back of selling interest as investors took a wait and see approach ahead of the local creditors meeting scheduled for 20 April 2023. Mixed investor activity was evident on JKH and DIAL which were amongst the top turnover contributors for the day. Furthermore, despite the exceptional performance in terms of tourist arrivals during the first 16 days of the month of April, the Hotel sector showed selling interest during the day. Selling interest was also witnessed on LIOC despite the confirmation from the State Minister of Power and Energy that the increased fuel quota will be maintained in the current week as well. NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings and Aitken Spence. Mixed interest was observed in Expolanka Holdings, Dialog Axiata and Tokyo Cement Company nonvoting whilst retail interest was noted in Marawila Resorts (rights), Browns Investments and East West Properties.
The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Aitken Spence) whilst the sector index lost 0.39%. The share price of John Keells Holdings lost 25 cents to Rs. 135. The share price of Aitken Spence appreciated by 50 cents to Rs. 130.25.
The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) whilst the sector index decreased by 0.57%. The share price of Expolanka Holdings decreased by Rs. 1 to Rs. 173.75. Dialog Axiata and Tokyo Cement Company nonvoting were also included amongst the top turnover contributors. The share price of Dialog Axiata moved up by 30 cents to Rs. 10.80. The share price of Tokyo Cement Company nonvoting recorded a gain of 10 cents to Rs. 48.
