CSE closes week negatively despite rebound on Friday

Saturday, 11 January 2025 00:51 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended on the up though closing the week negatively amidst profit taking by investors.

Yesterday the benchmark ASPI gained by over 114 points or 0.7% and the active S&P SL20 by 1.1%. For the week ASPI and the S&P SL 20 lost 0.8% and 1.1% respectively. Turnover yesterday was Rs. 3.7 billion involving 141 million shares whilst for the week turnover averaged Rs. 5.2 billion.

First Capital said the broad market rebounded from a loss of over 100 points yesterday, with the ASPI experiencing a volatile trading session amidst mixed investor sentiment. Banks led the charge in the post midday, helping the ASPI to recover.

HNB, LOLC, HHL, BIL and RCL emerged as the positive contributors to the index. There was mixed participation from retail and HNWs. The Banking sector led the turnover by 35%, followed by the Food, Beverage & Tobacco, and Capital Goods sectors jointly contributing 35% of the overall turnover. The net foreign outflow for the day was Rs. 100.5 million.

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

High net worth and institutional investor participation was noted in Amana Bank, Sampath Bank and Lanka Milk Foods. Mixed interest was observed in Browns Investments, Hatton National Bank and LOLC Holdings whilst retail interest was noted in LOLC Finance, Industrial Asphalts and LVL Energy Fund.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank and Amana Bank) whilst the sector index gained 1.29%. The share price of Hatton National Bank gained Rs. 13.75 to Rs. 323.50. The share price of Amana Bank appreciated by 50 cents to Rs. 25.70.

The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments) whilst the sector index increased by 0.31%.

The share price of Browns Investments increased by 20 cents to Rs. 7.90.

John Keells Holdings and LOLC Holdings were also included amongst the top turnover contributors. The share price of John Keells Holdings moved up by 10 cents to Rs. 23.90. The share price of LOLC Holdings recorded a gain of Rs. 16.50 to Rs. 684.25.