Sunday Dec 22, 2024
Sunday Dec 22, 2024
Wednesday, 4 December 2024 00:18 - - {{hitsCtrl.values.hits}}
The Colombo stock market sustained its upward momentum yesterday as investor sentiment turned more optimistic leading to healthy trading activity.
The benchmark ASPI gained by 0.84% and the active S&P SL 20 by 0.81%. Turnover was Rs. 3.22 billion involving 156.65 million shares. Foreign investors turned net buyers with a net inflow of Rs. 85.3 million signalling interest in internal investments.
First Capital said bourse experienced a day of positive sentiment and increased market activity, with interest visible on diversified financial sector and construction sector stocks such as ACL, TKYO, and RCL. Amidst the increased participation from retail investors, ASPI closed the day in green at 13,340, gaining 111 points, marking a 0.84% increase from the previous day. Additionally, specific stocks in the food, beverage and tobacco sector and plantation sector continued to attract investor interest throughout the day. Participation in the Banking sector saw a decrease during the trading session.
The most significant contributors towards the positive index were LOLC, CFIN, RCL, HNB, and DIPD. Meanwhile, turnover stood at Rs. 3.2 billion, marking a 10% decrease from the monthly average. Moreover, the food, beverage and tobacco sector led the turnover by 24%, followed by the capital goods and materials sectors jointly contributing 32% of the overall turnover.
Additionally, out of 6 off-board transactions, notable transaction was recorded in AGPL where 2.0% of the stake in AGPL was traded at Rs. 9 per share through four off-board transactions.
NDB Securities said high net worth and institutional investor participation was noted in Agarapatana Plantations, Hatton National Bank and John Keells Hotels. Mixed interest was observed in Dipped Products, Central Finance Company and ACL Cables whilst retail interest was noted in Lanka Credit and Business Finance, Waskaduwa Beach Resort and Softlogic Capital. Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers.
Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Agarapatana Plantations) whilst the sector index gained 0.29%. The share price of Agarapatana Plantations increased by 20 cents to close at Rs. 9.
Capital Goods sector was the second highest contributor to the market turnover (due to ACL Cables) whilst the sector index increased by 1%. The share price of ACL Cables appreciated by Rs. 2.70 to close at Rs. 98.50.
Dipped Products, Hatton National Bank and Central Finance Company were also included amongst the top turnover contributors. The share price of Dipped Products gained Rs. 1.70 to close at Rs. 45.90. The share price of Hatton National Bank moved up by Rs. 1.75 to close at Rs. 235.25. The share price of Central Finance Company recorded a gain of Rs. 6.25 to close at Rs. 135.75.
