Thursday Nov 14, 2024
Thursday Nov 14, 2024
Wednesday, 27 January 2021 00:35 - - {{hitsCtrl.values.hits}}
The benchmark price index of the Colombo stock market took a welcome breather yesterday after their stellar record bull run in recent weeks, but investor activity remained robust with a Rs. 11.4 billion turnover.
With the All Share Price Index (ASPI) up 28% so far in the New Year and the S&P SL20 higher by 32%, a new correction was anticipated, but the ASPI dipped by only 28 points or just 0.3%. Early trading saw ASPI dip sharper but managed to stage a recovery before close.
The S&P SL20 ended marginally on the up by 3 points. LOLC (Rs. 1.8 billion), Expolanka (Rs. 1.4 billion) and Dipped Products (Rs. 802 million) were the top three contributors to turnover.
First Capital said the Bourse went on see-saw mode reverting the direction to negative.
“Index plummeted within first 30 minutes of trading as it hit its intraday low of 8,623, followed by a short-lived rebound reaching its intraday high of 8,797. Thereafter, it witnessed a continuous downtrend and closed at 8,666,” First Capital added.
Turnover for the session was led by the Capital Goods sector, closely followed by the Materials and Diversified Financials sectors making a joint contribution of 62%.
NDB Securities said the ASPI closed in red as a result of price losses in counters such as John Keells Holdings (JKH), Carson Cumberbatch and Ceylon Tobacco Company.
It said high net worth and institutional investor participation was noted in Commercial Bank, Expolanka Holdings and Hatton National Bank. Mixed interest was observed in JKH, Hayleys and Royal Ceramics, whilst retail interest was noted in LOLC Holdings, Dipped Products and Industrial Asphalts.
The Capital Goods sector was the top contributor to the market turnover (due to JKH), whilst the sector index lost 0.24%. The share price of JKH declined by Rs. 8.50 (4.69%) to close at Rs. 172.75.
The Materials sector was the second highest contributor to the market turnover (due to Dipped Products and Industrial Asphalts), whilst the sector index increased by 1.17%. The share price of Dipped Products moved up by Rs. 41.25 (6.01%) to close at Rs. 728.00. The share price of Industrial Asphalts recorded a loss of Rs. 0.30 (25.00%) to close at Rs. 0.90.
LOLC Holdings and Expolanka Holdings were also included amongst the top turnover contributors. The share price of LOLC Holdings increased by Rs. 36.00 (9.44%) to close at Rs. 417.25. The share price of Expolanka Holdings lost Rs. 0.90 (1.45%) to close at Rs. 61.00.
Net foreign selling yester amounted to Rs. 190.3 million but down from Rs. 754 million on Monday. Asia Securities said estimated net foreign buying topped in CARG at Rs. 79 million and net foreign selling topped in HNB at Rs. 75 million.
