Colombo stock market sustains upward momentum

Wednesday, 29 January 2025 00:02 - - {{hitsCtrl.values.hits}}

The Colombo stock market continued its upward momentum yesterday amidst active investor participation and high turnover.

The benchmark ASPI gained by 0.4% and the active S&P SL20 improved by 0.3%. Turnover was Rs. 6.35 billion involving 273.4 million shares.

First Capital said the bourse experienced positive sentiment and increased activity, in contrast to Tuesday’s trading session.

A rise in participation was noted among both HNW and retail investors. BIL, RICH, HNB, CFIN and LOLC emerged as the top positive contributors to the index. The market experienced some volatility during the first half of the day, followed by increased positive sentiment due to individual counters from a mix of various sectors.

The Capital Goods sector was the most significant contributor to turnover with a 20% share, followed by the Banking, and Food, Beverage & Tobacco sectors jointly contributing 32%. Foreign investors remained net sellers, with a net outflow of Rs. 300 million.

NDB Securities said the high net worth and institutional investor participation was noted in John Keells Holdings, Vidullanka and Hemas Holdings. Mixed interest was observed in Browns Investments, Hatton National Bank and Lanka IOC whilst retail interest was noted in Waskaduwa Beach Resort, SMB Leasing and Ceylon Land & Equity.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 0.14%. The share price of John Keells Holdings decreased by 20 cents to Rs. 22.90. The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank) whilst the sector index increased by 0.45%. The share price of Hatton National Bank moved up by Rs. 5.25 to Rs. 355.50.

Browns Investments, Lanka IOC and Singer Sri Lanka were also included amongst the top turnover contributors.

The share price of Browns Investments gained by 60 cents to Rs. 9.10. The share price of Lanka IOC recorded a loss of Rs. 2.75 to Rs. 139.50. The share price of Singer Sri Lanka appreciated by Rs. 3.20 to Rs. 33.20.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.