CSE gathers more momentum with Rs. 10 b turnover

Saturday, 28 December 2024 00:26 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday gathered further momentum with a turnover of nearly Rs. 10 billion whilst finishing the week with 5% gain.

During the week, the benchmark ASPI gained by 4.9% and the active S&P SL20 by 5.6%. Turnover averaged Rs. 7.7 billion.

Yesterday the ASPI gained by 0.8% and S&P SL20 by 1.4%. Turnover was Rs. 9.8 billion dominated by HNB (Rs. 265 billion), LOLC HOldings (Rs. 667.7 million), Commercial Bank (Rs. 445.7 million), DFCC Bank (Rs. 331.7 million) and LMF (Rs. 307 million).

First Capital said the bourse closed the week with a day of positive sentiment and increased market activity. Amidst the increased participation from retail investors, ASPI closed the day in green. The stocks in the Banking and Diversified Financial sectors experienced a notable increase, contributing significantly to both turnover and overall returns. The most significant contributors towards the positive index were HNB, LOLC, DFCC, RCL, and MELS. Amidst multiple off-board transactions, turnover marked an increase of 81.8%, from the monthly average. The Banking sector led the turnover by 46%, followed by the Diversified Financials and Capital Goods sectors jointly contributing 26% of the overall turnover. There was a net foreign inflow of Rs. 4.7 million.

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

High net worth and institutional investor participation was noted in Hatton National Bank, Seylan Bank and LOLC Holdings. Mixed interest was observed in LOLC Holdings, Commercial Bank and Lanka Milk Foods whilst retail interest was noted in Eden Hotel Lanka, Softlogic Capital and Pan Asia Banking Corporation.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank and DFCC Bank) whilst the sector index gained 1.50%. The share price of Hatton National Bank increased by Rs. 7.75 to Rs. 301.50. The share price of Commercial Bank moved up by Rs. 1.75 to Rs. 140.25. The share price of DFCC Bank recorded a gain of Rs. 5.80 to Rs. 99.40.

The Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Holdings) whilst the sector index increased by 1.83%. The share price of LOLC Holdings gained Rs. 25.75 to Rs. 692.75.

Lanka Milk Foods was also included amongst the top turnover contributors with its share price gaining Rs. 3.20 to Rs 47.40.