Colombo stock market begins week with focus on blue-chip firms

Tuesday, 3 December 2024 01:57 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday began a fresh week on a positive note driven by interest in blue-chip companies.

The active S&P SL20 gained by 0.12% and the benchmark ASPI by 0.30%.

Turnover was Rs. 2.3 billion involving 108.38 million shares.

Foreigners turned net sellers to the tune of Rs. 379.76 million.

First Capital said the broad market started the week with bullish momentum, extending the positive sentiment from the previous week’s trading session, with interest visible in blue-chip firms. Amidst increased participation from retail investors, the ASPI closed in green at 13,229, gaining 40 points, marking a 0.30% increase from the previous week.

Additionally, specific stocks in the Construction sector continued to attract investor interest throughout the day. The most significant contributors towards the positive index were HAYL, SPEN, AEL, JKH, and CFIN. Additionally, selected Food and Beverage sector and Capital Goods sector stocks saw increased interest during the day.

Meanwhile, turnover stood at Rs. 2.3 billion, marking a 39.2% decrease from the monthly average. Moreover, the Food Beverage and Tobacco sector led the turnover by 28%, followed by the Capital Goods and Banking sectors jointly contributing 30% of the overall turnover.

NDB Securities said high net worth and institutional investor participation was noted in Lion Brewery, Vidullanka, and Central Finance Company. Mixed interest was observed in Hemas Holdings, Access Engineering, and John Keells Holdings, whilst retail interest was noted in Softlogic Capital, Panasian Power, and Cargills Bank.

The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Lion Brewery) whilst the sector index gained 0.58%. The share price of Lion Brewery increased by Rs. 14.75 to close at Rs. 1,114.75.

The Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings, Access Engineering, and John Keells Holdings) whilst the sector index increased by 0.66%. The share price of Hemas Holdings gained Rs. 1.40 to close at Rs. 85.90. The share price of Access Engineering moved up by Rs. 1.20 to close at Rs. 28.50. The share price of John Keells Holdings moved up by Rs. 0.10 to close at Rs. 19.80. Central Finance Company was also included amongst the top turnover contributors. The share price of Central Finance Company recorded a gain of Rs. 2.25 to close at Rs. 129.50.