CSE begins positively post-Avurudu amidst low turnover

Thursday, 17 April 2025 03:39 - - {{hitsCtrl.values.hits}}

The Colombo stock market was positive on the first day of trading yesterday after the Sinhala-Tamil New Year holidays amidst low turnover.

The active S&P SL20 gained by over 29.95 points or 0.65% whilst the benchmark ASPI improved by over 99.68 points or 0.64%. Turnover was Rs.792.76 million involving 30.23 million shares. However, the foreign investors remained net sellers, with a net outflow of Rs. 50.1 million.

First Capital said the bourse staged a comeback from the previous session as trading resumed following the dawn of the New Year, with the market ending in green amidst volatility.

The ASPI shot up 100 points, marking a 0.64% increase to close at 15,626. Investors remained dormant as seasonal cheer took over, with low retail activity and the absence of crossings indicating muted HNW participation.

The top positive contributors to the index were LOLC, CFIN, NDB, VONE and CCS. Increased activity was noted among counters in the diversified financial sector, adding to yesterday’s overall uptick. Low market participation resulted in low levels of turnover, which stood at Rs. 792.8 million, marking a 70.0% decrease from the monthly average of Rs. 2.6 billion. The diversified financial sector was the most significant contributor to the turnover with a 27% share, followed by the food, beverage and tobacco sector at 18% and the banking sector at 15%.

NDB Securities said the high net worth and institutional investor participation was noted in Hatton National Bank and Janashakthi Insurance Company.

Mixed interest was observed in Commercial Credit & Finance, Singer Sri Lanka and Vallibel One whilst retail interest was noted in Nation Lanka Finance, SMB Leasing and Hela Apparel Holdings.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

Diversified Financials sector was the top contributor to the market turnover (due to Commercial Credit & Finance) whilst the sector index gained 2.36%. The share price of Commercial Credit & Finance increased by Rs. 2.20 to close at Rs. 64.

Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Tobacco Company), whilst the sector index increased by 0.79%. The share price of Ceylon Tobacco Company edged up 75 cents to close at Rs. 1,340.50.

Hatton National Bank, Singer Sri Lanka and Vallibel One were also included amongst the top turnover contributors.

The share price of Hatton National Bank gained Rs. 2 to close at Rs 302. The share price of Singer Sri Lanka moved up by Rs. 1.70 to close at Rs. 35.80. The share price of Vallibel One recorded a gain of Rs. 2.90 to close at Rs. 64.10.

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