CSE rebounds but ends week with marginal loss

Saturday, 22 February 2025 01:01 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday posted a welcome rebound though closing the week marginally low.

The benchmark ASPI gained by 0.18% and the active S&P SL20 by 0.6%. For the week, the indices reported a loss of 0.3% and 0.6% respectively.

Turnover on Friday was Rs. 3.5 billion involving 70.5 million shares. The average daily turnover for the week was Rs. 4.2 billion.

First Capital said after two days of losses, the bourse rebounded on Friday with positive sentiment and low market activity. Most of the investor attention was focused on Banking stocks. The most significant contributors towards the positive index were COMB, MELS, JKH, NDB, and SAMP. The lack of crossings present in today’s market demonstrates decreased participation from both institutional and HNW investors. Additionally Banking sector stocks contributed significantly to the turnover, playing a key role in the overall market activity. The Banking sector led the turnover by 57%, followed by the Capital Goods, and Materials sectors jointly contributing 22% of the overall turnover. There was a net foreign outflow of Rs. 749.8 million.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Bank, Sampath Bank and John Keells Holdings. Mixed interest was observed in National Development Bank, Hatton National Bank and CIC Holdings nonvoting whilst retail interest was noted in Browns Investments, LVL Energy Fund and LOLC Finance.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank, Commercial Bank, National Development Bank and Hatton National Bank) whilst the sector index gained 0.89%. The share price of Sampath Bank increased by 75 cents to Rs. 122.25. The share price of Commercial Bank gained Rs. 2.75 to Rs. 152. The share price of National Development Bank moved up by Rs. 1.75 to Rs. 121.75. The share price of Hatton National Bank recorded a gain of 75 cents to Rs. 333.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.37%. The share price of John Keells Holdings appreciated by 20 cents to Rs. 22.40.

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