CSE ends week on the up

Saturday, 7 December 2024 00:33 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday closed the week on a positive note with improved investor sentiment.

The active S&P SL20 gained by 0.22% and the benchmark ASPI by 0.40% on Friday. During the week, the ASPI and the S&P SL 20 gained 3.2% and 4% respectively.

Turnover yesterday was Rs. 4.99 billion involving 374.5 million shares. Turnover during the week averaged Rs. 4.04 billion. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Hayleys, Sunshine Holdings and LOLC Holdings with the turnover crossing Rs. 4.9 billion. A similar behaviour was witnessed in the S&P SL20.

High net worth and institutional investor participation was noted in Melstacorp, LOLC Holdings and Access Engineering.

Mixed interest was observed in HNB Finance, Agarapatana Plantations and Kotagala Plantations whilst retail interest was noted in Industrial Asphalts, Asia Siyaka Commodities and SMB Leasing.

Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Melstacorp and Agarapatana Plantations) whilst the sector index gained 1.39%. The share price of Melstacorp closed flat at Rs. 106. The share price of Agarapatana Plantations recorded a gain of Rs. 1.40 to close at Rs. 10.60.

Diversified Financial sector was the second highest contributor to the market turnover (due to HNB Finance) whilst the sector index edged down by 0.05%. The share price of HNB Finance decreased by Rs. 1.50 to close at Rs. 4.20.

Access Engineering and John Keells Holdings were also included amongst the top turnover contributors. The share price of Access Engineering gained Rs. 1.20 to close at Rs. 31.20. The share price of John Keells Holdings declined by 10 cents to close at Rs. 20.70.