Strong start in holidays-shortened trading week at Colombo stock market

Thursday, 16 January 2025 02:24 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday kicked off a holidays-shortened trading week strongly aided by active and bullish investors.

The benchmark ASPI gained by 1.4% and the active S&P SL20 by 2%. Turnover was Rs. 4.4 billion involving 172.6 million shares.

First Capital said the market saw another day of positive sentiment and gains, driven by the decrease in Treasury bill yields at the recent auction. There was a slight increased participation from retail and HNW investors. The most significant contributors towards the positive index were SAMP, DFCC, NDB, HNB, and COMB. Most of the investor attention was focused on the Banking sector and Blue-chip stocks such as JKH. The Banking sector led the turnover by 30%, followed by the Capital Goods and Food, Beverage and Tobacco sectors jointly contributing 30% of the overall turnover. There was a net foreign outflow of Rs. 312.6 million.

NDB Securities said indices closed in green as a result of price gains in counters such as Sampath Bank, DFCC Bank and National Development Bank.

High net worth and institutional investor participation was noted in John Keells Holdings, Teejay Lanka and Vallibel Power Erathna. Mixed interest was observed in Hatton National Bank, Browns Investments and Digital Mobility Solutions Lanka whilst retail interest was noted in Nation Lanka Finance, Co-Operative Insurance Company and HNB Finance.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank and DFCC Bank) whilst the sector index gained 2.84%. The share price of Hatton National Bank increased by Rs. 6 to Rs. 329.50. The share price of DFCC Bank appreciated by Rs. 7.75 to Rs. 117.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.71%. The share price of John Keells Holdings gained 10 cents to Rs. 24.

Browns Investments and Digital Mobility Solutions Lanka were also included amongst the top turnover contributors. The share price of Browns Investments moved up by 20 cents to Rs. 8.10. The share price of Digital Mobility Solutions Lanka recorded a gain of Rs. 13.40 to Rs. 88.10.