CSE sustains upward trends; crossings boost turnover to Rs. 5 b

Friday, 29 November 2024 00:58 - - {{hitsCtrl.values.hits}}

The Colombo stock market sustained its upward trend yesterday with crossings boosting turnover to over Rs. 5 billion.

The active S&P SL20 gained by 1% and the benchmark ASPI by 0.9%. Turnover was Rs. 5.1 billion involving 217.5 million shares.

First Capital said the Bourse experienced a day of increased volatility as mixed sentiment dominated the market. Amidst the increased participation from retail and HNW investors, ASPI closed in the green at 13,164, gaining 115 points, from the previous day. The most significant contributors towards the positive index were SAMP, HNB, LION, COMB, and NDB. Additionally, selected Hotel and Banking sector stocks such as SAMP, JKH and HNB saw increased interest during the day. Amidst several crossings, turnover marked a 34.6% increase from the monthly average. The Banking sector led the turnover by 54%, followed by the Capital Goods and Consumer Services sectors jointly contributing 27% of the overall turnover. There was a net foreign outflow of Rs. 246.3 million signalling interest in external investments.

NDB Securities said crossings were witnessed in Sampath Bank, John Keells Holdings, Hatton National Bank, Royal Ceramics, LB Finance, DFCC Bank, Nations Trust Bank, Commercial Bank, Hemas Holdings and Agalawatte Plantations accounting for 46.4% of the turnover.

High net worth and institutional investor participation was noted in Sampath Bank, John Keells Holdings and Hatton National Bank. Mixed interest was observed in Citrus Leisure, Hemas Holdings and Beruwala Resorts whilst retail interest was noted in Co-Operative Insurance Company, LOLC Finance and SMB Leasing.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank and Hatton National Bank) whilst the sector index gained 1.38%. The share price of Sampath Bank increased by Rs. 2.50 to Rs. 97.80. The share price of Hatton National Bank moved up by Rs. 3.50 to Rs. 233.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and Hemas Holdings) whilst the sector index increased by 0.55%. The share price of John Keells Holdings gained 10 cents to Rs. 20. The share price of Hemas Holdings appreciated by one Rupee to Rs. 83.50.

LB Finance was also included amongst the top turnover contributors with its share price gaining Rs. 1.10 to Rs. 79.50.