CSE ends week on mixed note

Saturday, 30 November 2024 00:12 - - {{hitsCtrl.values.hits}}

The Colombo stock market ended the week yesterday on a mixed note with moderate turnover.

The benchmark ASPI closed with 24 points higher or 0.19% and the active S&P SL20 declined by over 12 points or 0.3%. Turnover was Rs. 3.7 billion involving 277.6 million shares.

First Capital said the bourse experienced a day of increased volatility as mixed sentiment dominated the market. Amidst the decreased participation from retail and high net worth investors, ASPI closed in the green. The S&P SL20 dipped compared to the previous session due to reduced activity of Conglomerates and major Banks.

The most significant contributors towards the positive index were AHUN, LLUB, SPEN, SAMP, and BIL. Additionally, specific stocks in the Hotel and Banking sector continued to attract investor interest throughout the day.

Amidst several crossings, turnover marked a 3.3% decrease from the monthly average turnover. The Consumer Services sector led the turnover by 24%, followed by the Banking and Capital Goods sectors jointly contributing 35% of the overall turnover. There was a net foreign outflow of Rs. 381.9 million signalling interest in external investments.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Aitken Spence Hotel Holdings, Chevron Lubricants and Aitken Spence.

High net worth and institutional investor participation was noted in Hatton National Bank, John Keells Holdings and John Keells Hotels. Mixed interest was observed in Waskaduwa Beach Resort, Sampath Bank and Ambeon Capital whilst retail interest was noted in Citrus Leisure, Hikkaduwa Beach Resort and Co-Operative Insurance Company.

The Consumer Services sector was the top contributor to the market turnover (due to Waskaduwa Beach Resort) whilst the sector index gained 3.84%. The share price of Waskaduwa Beach Resort moved down 20 cents to Rs. 2.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank and Sampath Bank) whilst the sector index edged down by 0.03%. The share price of Hatton National Bank decreased by one Rupee to Rs. 232.50. The share price of Sampath Bank appreciated by 40 cents to Rs. 98.20.

John Keells Holdings and Ambeon Capital were also included amongst the top turnover contributors. The share price of John Keells Holdings lost 30 cents to Rs. 19.70. The share price of Ambeon Capital recorded a gain of Rs. 1.70 to Rs. 18.70.