CSE enjoys second day of over Rs. 4 b turnover; ends week on a high

Saturday, 26 October 2024 03:24 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday enjoyed another day of high turnover before finishing the week on the up.

Turnover yesterday amounted to Rs. 4.7 billion, marking the second consecutive session of over Rs. 4 billion. Over 135 million shares traded. HNB (Rs. 1.39 billion), Sampath (Rs. 1 billion), and JKH (Rs. 442 million) dominated turnover.

The active S&P SL20 gained by 1% and the benchmark ASPI by 0.35%.

During the week, the ASPI finished 1.7% gain and the S&P SL 20 by 3.8%. Turnover averaged Rs. 3 billion.

Frist Capital said the Colombo Bourse sustained the bullish momentum for the second consecutive session as HNW and institutional investors maintained a positive sentiment on Banking sector counters and conglomerates. The ASPI closed the week at 12,518 gaining 44 points led by JKH, COMB, LOLC, DFCC and CTC, which emerged as the top positive contributors to the index. Amidst the improved participation from HNW and institutional investors, turnover marked a 95.1% increase from the monthly average. Moreover, off-board transactions contributed 44.9% to the overall turnover.

The Banking sector led turnover by 58%, followed by the Capital Goods and Material Sectors jointly contributing 24% of the overall turnover. Foreign investors remained net sellers, with a net outflow of Rs. 186.4 million whilst total foreign outflow for the week stood at Rs. 179.6 million.

NDB Securities said Indices closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and LOLC Holdings. Crossings were witnessed in Hatton National Bank, Sampath Bank and CIC Holdings accounting for 44.9% of the turnover.

Mixed interest was observed in John Keells Holdings, Commercial Bank and Access Engineering whilst retail interest was noted in Lanka Credit and Business Finance, SMB Leasing nonvoting and Industrial Asphalts.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank, Sampath Bank and Commercial Bank) whilst the sector index gained 0.84%. The share price of Hatton National Bank edged down by 25 cents to Rs. 219. The share price of Sampath Bank lost 50 cents to Rs. 85. The share price of Commercial Bank appreciated by Rs. 2.25 to Rs. 113.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 1.50%. The share price of John Keells Holdings moved up by Rs. 4.50 to Rs. 214.

Central Finance Company was also included amongst the top turnover contributors with share price gaining by one Rupee to Rs. 123.