CSE achieves second day of over Rs. 10 b turnover; indices enjoy sharp gain

Tuesday, 31 December 2024 01:39 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday recorded its second Rs. 10 billion plus turnover for 2024 boosted by active investor participation and gain in indices.

The benchmark ASPI increased by 1.88% or 292 points and the active S&P SL20 shot up by 3%. Turnover was Rs. 10.23 billion involving 291 million shares.

Turnover was led by HNB (Rs. 1.1 billion), Commercial Bank (Rs. 970 million), JKH (Rs. 668.6 million), PABC (Rs. 401 million), and DFCC Bank (Rs. 349 million). Commercial Bank saw 5.5 million shares traded at Rs. 141 each via 11 crossings.

First Capital said the bourse started the week with a day of positive sentiment and increased market activity. There was increased participation from retail investors and most of the investor attention was focused on Banking sector stocks.

The most significant contributors towards the positive index were HNB, NDB, SAMP, DFCC, and CTC. Amidst multiple off-board transactions, turnover marked an increase of 76.7%, from the monthly average. The Banking sector led the turnover by 44%, followed by the Capital Goods and Food, Beverage and Tobacco sectors jointly contributing 27% of the overall turnover. There was a net foreign outflow of Rs. 55.3 million.

NDB Securities said indices closed in green as a result of price gains in counters such as Hatton National Bank, National Development Bank and Sampath Bank.

High net worth and institutional investor participation was noted in Commercial Bank, Hatton National Bank, and John Keells Holdings. Mixed interest was observed in Pan Asia Banking Corporation, DFCC Bank and Royal Ceramics whilst retail interest was noted in Ceylon Land & Equity, LOLC Finance and Agstar.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank, Pan Asia Banking Corporation and DFCC Bank) whilst the sector index gained 4.43%. The share price of Hatton National Bank increased by Rs. 15.75 to Rs. 317.25. The share price of Commercial Bank gained Rs. 2.75 to Rs. 143. The share price of Pan Asia Banking Corporation recorded a gain of Rs. 1.70 to Rs. 32.90. The share price of DFCC Bank appreciated by Rs. 8.35 to Rs, 107.75.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 1.14%. The share price of John Keells Holdings moved up by 30 cents to Rs. 22.60.