Friday Nov 08, 2024
FT
Friday Nov 08, 2024
Friday, 2 February 2024 00:32 - - {{hitsCtrl.values.hits}}
The Colombo stock market yesterday began February on a spirited note in an apparent rebound in investor sentiment.
The active S&P SL20 gained by 1.27% and the benchmark ASPI by 0.6%. This gain comes hot on the heels of ASPI and S&P SL20 finishing the new year’s first month down by 3.2% and 5.6% respectively.
Turnover too improved to above the daily average of Rs. 1.14 billion involving 41 million shares. However, foreigners continued to be net sellers.
Asia Securities said the market saw a positive session with the ASPI reaching a two-week high of 10,375 (+65 points) mainly driven by heavyweights SAMP (+2.8%), COMBN (+2.2%), VONE (+5.7%), SLTL (+1.2%), and DIAL (+1.1%). Moreover, LMF (+5.7%), AMF (+5.4%), and SCAP (+1.6%) recorded price gains providing further support to the ASPI during the session.
However, MGT (-2.1%), CALT (-1.4%), CFVF (-2.1%), and ALUM (-1.1%) closed in red. SAMP (+15 points), COMBN (+12 points), DFCC (+7 points), and CFIN (+6 points) ended as the major index drivers for the day. The breadth of the market was positive with 82 price gainers and 65 decliners.
Turnover was led by LFIN (Rs. 217 million) and NTBN (Rs. 203 million) boosted by off-board transactions in these stocks.
Asia said foreigners recorded a net outflow of Rs. 164.3mn. Net foreign buying topped in NTB.N at Rs. 10.2 million and selling topped in SAMP.N at Rs. 77 million.
First Capital said the Bourse closed in the green zone today for the 3rd consecutive session, as Banking sector counters saw an increased investor interest. ASPI started the day off strong and carried this upward trend throughout the session ending at 10,376 with investors choosing to capitalise on bargain prices especially on banking sector counters such as SAMP, COMB and DFCC. Turnover was 60% higher than the daily average of Rs. 715.1Mn with 5 off-board transactions seen on the counters LFIN, VONE, NTB, WIND and HELA.
The Banking sector and Diversified Financial sector were the largest contributors to today’s turnover with a joint contribution of 60%.
NDB Securities said high net worth and institutional investor participation was noted in LB Finance, Nations Trust Bank and Vallibel One. Mixed interest was observed in Sampath Bank, John Keells Holdings and Commercial Bank whilst retail interest was noted in Dialog Axiata, Hela Apparel Holdings and Industrial Asphalts.
The Banking sector was the top contributor to the market turnover (due to Nations Trust Bank, Sampath Bank and Commercial Bank) whilst the sector index gained 1.63%. The share price of Nations Trust Bank gained 25 cents to Rs. 101.25. The share price of Sampath Bank moved up by Rs. 1.90 to Rs. 70.10. The share price of Commercial Bank appreciated by
Rs. 1.90 to Rs. 88.10.
The Diversified Financials sector was the second highest contributor to the market turnover (due to LB Finance) whilst the sector index increased by 0.13%. The share price of LB Finance decreased by Rs. 1.20 to Rs. 61.
John Keells Holdings was also included amongst the top turnover contributors. The share price of John Keells Holdings recorded a gain of 75 cents to Rs. 180.
Separately Ceylon Grain Elevators and Three Acre Farms announced their dividends of Rs. 12 and Rs. 16 per share respectively.
