CSE marks volatile week of sentiments

Saturday, 19 October 2024 01:46 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended a week of volatile sentiments leading to a mixed closure.

The benchmark ASPI ended with a mere 0.2% gain whilst the active S&P SL20 was down by 0.5%. Turnover averaged Rs. 1.75 billion.

First Capital said at the week closing, the broad market experienced another volatile trading day as investors maintained mixed sentiment throughout the session. However, the index managed to close the week in green at 12,313, gaining 23 points. Investors continued the positive sentiment on the selected Plantation sector stocks such as BALA and AGPL. Notably, LFIN experienced increased buying interest during the session following the announcement of its 2QFY25 results on 16 October 2024. Amidst the improved participation from retail investors, turnover experienced a slight increase from yesterday and stood at

Rs. 2 billion However, this marks a 10.3% decrease from the monthly average standing at Rs. 2.2 billion. The Diversified Financials sector led turnover at 33%, followed by Food, Beverage and Tobacco, and Capital Goods sectors jointly contributing 29% of overall turnover. Foreign investors remained net sellers, with a net outflow of Rs. 87.3 million.

NDB Securities said the ASPI on Friday closed in green as a result of price gains in counters such as C T Holdings, Central Finance Company and Hatton National Bank.

High net worth and institutional investor participation was noted in LB Finance, Dialog Axiata and Janashakthi Insurance Company. Mixed interest was observed in Digital Mobility Solutions Lanka, Hatton National Bank and Chevron Lubricants whilst retail interest was noted in SMB Leasing, Browns Investments and Lankem Developments.

The Diversified Financials sector was the top contributor to the market turnover (due to LB Finance) whilst the sector index gained 1.94%. The share price of LB Finance increased by Rs. 2.90 to Rs. 73.50.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lankem Developments) whilst the sector index increased by 0.22%.

The share price of Lankem Developments recorded a gain of Rs. 1.50 to Rs. 20.40.

Dialog Axiata, Digital Mobility Solutions Lanka and Hatton National Bank were also included amongst the top turnover contributors. The share price of Dialog Axiata gained 20 cents to Rs. 10.90. The share price of Digital Mobility Solutions Lanka moved up by Rs. 1.90 to Rs. 43.90. The share price of Hatton National Bank appreciated by Rs. 1.50 to Rs. 214.50.