Thursday Nov 14, 2024
Thursday Nov 14, 2024
Saturday, 23 January 2021 00:35 - - {{hitsCtrl.values.hits}}
Setting another record stocks closed up 4.09% yesterday with the All Share Price Index (ASPI) gaining 332.18 points to reach the highest level of 8,464 and trades recording the highest volume of 67, 846 while market capitalisation soared past Rs. 3.7 trillion. Renewed interest in banks, finance companies and Carsons Cumberbatch joining LOLC Holdings linked firms contributed to the run, brokers said. The ASPI ended the week with a 9% gain, which experts said indicated investors enjoyed an increase of Rs. 318 billion over the week.
The ASPI closed in green as a result of price gains in counters such as LOLC Holdings, Carson Cumberbatch and Brown & Company with the turnover crossing Rs. 12.8 billion, NDB Securities said yesterday. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Commercial Bank, John Keells Holdings and C T Holdings.
Mixed interest was observed in Dipped Products, Vallibel One and Brown and Company, whilst retail interest was noted in LOLC Holdings, Expolanka Holdings and Browns Investments.
Foreign participation in the market remained at subdued levels with foreigners closing as net sellers. Foreign investors offloaded Rs. 821.2 million ($ 4.17 million) worth of shares, according to exchange data.
During the week, the ASPI and the S&P SL20 gained 9.42% and 14.10% respectively, whilst recording an average daily turnover of Rs. 12 billion. The share market was also boosted by the Government reopening borders to tourists and the drug regulator approving Oxford AstraZeneca vaccine, which is expected to be shipped to the country by India in the coming days.
Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index gained 3.23%. The share price of John Keells Holdings moved up by Rs. 6.25 (3.86%) to close at Rs. 168.25.
Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings), whilst the sector index increased by 11.46%. The share price of LOLC Holdings increased by Rs. 70.25 (25%) to close at Rs. 351.25.
Expolanka Holdings, Dipped Products and Browns Investments were also included amongst the top turnover contributors. The share price of Expolanka Holdings gained Rs. 4.40 (8.68%) to close at Rs. 55.10. Furthermore, the share price of Dipped Products recorded a loss of Rs. 14.75 (2.56%) to close at Rs. 561.25, whilst the share price of Browns Investments appreciated by Rs. 0.30 (4.55%) to close at Rs. 6.90.
