Colombo stock market rebounds

The Colombo stock market bounced back yesterday after two days of bearish run on improved sentiments though foreigners turned net sellers. 

The All Share Price Index gained 51.49 points and S&SL 20 Index by 12.47 points whilst turnover improved much above the daily average to Rs. 1.1 billion driven by foreigners. 

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Ceylon Tobacco Company, Distilleries and LOLC Holdings.

High net worth and institutional investor participation was noted in Commercial Bank, Sampath Bank, John Keells Holdings and Nations Trust Bank. Mixed interest was observed in Browns Investments and Union Bank whilst retail interest was noted in Access Engineering. Furthermore, foreigners remained active closing as net sellers.  Total foreign sales accounted for 65.1% of the turnover. Banks sector was the top contributor to the market turnover (due to Commercial Bank, Sampath Bank, Hatton National Bank and Nations Trust Bank) whilst the sector index gained 0.13%. The share price of Commercial Bank decreased by Rs. 1 (1.08%) to close at Rs. 92.00. The share price of Sampath Bank gained Rs. 4.30 (2.68%) to close at Rs. 164.50. The share price of Hatton National Bank closed flat at Rs. 160. The share price of Nations Trust Bank appreciated by Rs. 0.10 (0.13%) to close at Rs. 78.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.64%. The share price of John Keells Holdings moved up by Rs. 0.50 (0.31%) to close at Rs. 161. Furthermore, John Keells Holdings announced an interim dividend of Rs. 1.50 per share.