ASPI tops 30% year to date return mark; turnover surpasses Rs. 6 b

Thursday, 12 December 2024 00:30 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained positive for the 12th consecutive day yesterday whilst turnover topped Rs. 6 billion mark.

The benchmark ASPI gained by 0.8% thereby crossing the 30% year to date return and the active S&P SL20 gained by 0.7% topping the 35% mark of year to date return. Turnover was boosted by trading of 249.6 million shares.

Turnover was dominated by JKH (Rs. 1 billion), LOLC Holdings (Rs. 400.7 million), Digital Mobility Solutions (Rs. 292.4 million), Dialog Axiata (Rs. 256 million) and Sampath Bank (Rs. 206.4 million).

First Capital said the bourse experienced another day of positive sentiment and increased gains, closing in green for the 12th consecutive day. After Tuesday’s volatile trading, the market rebounded strongly with significant gains today. Amidst the increased participation from retail and HNW investors, ASPI closed the day in green at 13,885, gaining 110 points marking a 0.80% increase from the previous day. The most significant contributors towards the positive index were BREW, LOLC, SAMP, MELS, and JKH. Additionally, specific stocks in the Capital Goods and Diversified Financials such as JKH continued to attract investor interest throughout the day.

Amidst multiple off-board transactions, turnover was at a three-week high, marking an increase of 47.6%, from the monthly average of Rs. 4.1 billion. Moreover, the Capital Goods sector led the turnover by 29%, followed by the Diversified Financials and Materials sectors jointly contributing 26% of the overall turnover. There was a net foreign outflow of Rs. 393.9 million signalling interest in external investments.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Melstacorp and Ceylinco Insurance. Mixed interest was observed in LOLC Holdings, Digital Mobility Solutions Lanka and Dialog Axiata whilst retail interest was noted in Lanka Credit and Business Finance, Softlogic Capital and Agstar.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.28%. The share price of John Keells Holdings increased by 20 cents to Rs. 21.20.

The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings) whilst the sector index increased by 1.87%. The share price of LOLC Holdings gained Rs. 22.50 to Rs. 536.25.

Digital Mobility Solutions Lanka, Dialog Axiata, and Sampath Bank were also included amongst the top turnover contributors. The share price of Digital Mobility Solutions Lanka moved up by Rs. 2.70 to Rs. 64.50. The share price of Dialog Axiata closed flat at Rs. 10.80. The share price of Sampath Bank appreciated by Rs. 2 to Rs. 102.75.