Thursday Nov 14, 2024
Thursday Nov 14, 2024
Friday, 25 September 2020 00:25 - - {{hitsCtrl.values.hits}}
The Colombo stock market yesterday saw the main index rebound on improved turnover though the active stocks-index closed negative.
Acuity Stockbrokers said the Bourse ended on a mixed note as the ASPI increased by 0.68% or 39.10 points to close at 5,811.20 points, while the S&P SL20 Index decreased by 0.16% or 4.09 points to close at 2,481.92. On Wednesday the ASI dipped ending over two weeks of gains whilst S&P SL too declined.
Turnover increased by 32.4% relative to Wednesday to Rs. 2.85 billion while the crossings amounted to
11.6% the day’s total turnover.
Foreign investors recorded a net outflow of Rs. 517.9 million as against Rs. 115.1 million on Wednesday.
NDB Securities said The ASPI closed in green as a result of price gains in counters such as Ceylinco Insurance, Bukit Darah and Distilleries.
It said high net worth and institutional investor participation was noted in Expolanka Holdings and Commercial Bank. Mixed interest was observed in Hatton National Bank, IOC, Melstacorp and Sierra Cables. Furthermore, foreigners closed as net sellers mainly due to foreign selling in Commercial Bank and Alumex whilst retail interest was noted in Lanka.
The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Hatton
National Bank), whilst the sector index gained 0.17%. The share price of Commercial Bank lost Rs. 0.20 (0.25%) closing at Rs. 80.70, whilst foreign holdings decreased by 4,310,423 shares. The share price of Hatton National Bank edged up by Rs. 0.10 (0.08%) to close at Rs. 127.90.
Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Cold Stores and Lion Brewery), whilst the sector index increased by 1.43%. Furthermore, the share price of Ceylon Cold Stores recorded a gain of Rs. 1.10 (0.16%) to close at Rs. 671.00, whilst the share price of Lion Brewery appreciated by Rs. 2.20 (0.40%) to close at Rs. 552.10.
Expolanka Holdings was also included amongst the top turnover contributors. The share price of Expolanka Holdings increased by Rs. 0.90 (9.28%) to close at Rs. 10.60.
