Colombo stock market remains resilient

Thursday, 19 December 2024 01:49 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday showed resilience by finishing on the up, thereby sustaining the winning run thanks to a late rally after a fall earlier in the session.

The benchmark ASPI gained by 0.67% and the active S&P SL20 by 0.45%. Turnover was Rs. 6 billion involving 209.5 million shares.

First Capital said the bourse followed the same pattern as the previous day where the market experienced volatility and declined in the morning due to selling and picked up by midday.

Amidst increased participation from HNW investors, the ASPI closed the day in green at 14,614 gaining 98 points, marking a 0.67% increase from the previous day. During the trading session, most of the investor attention was focused on Banking sector stocks.

Additionally, HNB, DIMO, VONE, CFIN, and CTC emerged as the top positive contributors to the index. Amidst multiple off-board transactions, turnover marked an increase of 29.5% from the monthly average. The Banking sector led the turnover by 20%, followed by the Capital Goods and Materials sectors jointly contributing 35% of the overall turnover. There was a net foreign inflow of Rs. 100.7 million.

NDB Securities said high net worth and institutional investor participation was noted in Softlogic Life Insurance, Hatton National Bank, and Hemas Holdings. Mixed interest was observed in Lanka Milk Foods, CIC Holdings, and Vallibel One, whilst retail interest was noted in Agarapatana Plantations, Ceylon Land & Equity, and John Keells Holdings.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank) whilst the sector index gained 0.17%. The share price of Hatton National Bank increased by Rs. 3.50 to Rs. 275.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.62%. The share price of John Keells Holdings closed flat at Rs. 22.30.

CIC Holdings, Lanka Milk Foods, and R I L Property were also included amongst the top turnover contributors. The share price of CIC Holdings moved up by Rs. 6.10 to Rs. 91. The share price of Lanka Milk Foods recorded a gain of Rs. 1.70 to Rs. 39.30. The share price of R I L Property appreciated by Rs. 1.10 to Rs. 13.10.