CSE remains robust; net foreign inflow nears Rs. 6 b mark

Tuesday, 8 August 2023 01:01 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday remained robust with gain in indices, healthy turnover and net foreign inflow nearing the Rs. 6 billion mark year to date.

The active S&P SL20 rose by 1% to cross the 30% mark in year to date return. The benchmark ASPI by 0.4% to extend its YTD positive return to 37.6%. Turnover was Rs 3 billion involving 105.5 million shares.

Asia Securities said the indices continued their upward trajectory for a seventh consecutive session led by banking sector counters SEYBX (+13.6%), SEYBN (+8.1%), PABCN (+7.0%), COMBN (+2.2%), SAMPN (+1.3%), and HNBX (+0.8%).

However, CALTN (-8.7%), CFIN (-6.8%), LIOCN (-3.4%), EXPO (-3.0%), and MGTN (-2.4%) closed in the red.

JKH (+36 points), COMBN (+17 points), and MELS (+12 points) came in as the biggest index movers for the day. Overall, 79 stocks recorded price gains while 121 settled with losses.

Turnover was led by JKH (Rs. 440 million), PABC (Rs. 303 million), and LIOC (Rs. 200 million).

Foreigners recorded a net inflow of Rs. 207.9 million boosting the year to date figure to Rs. 5.77 billion. Net foreign buying topped in JKH at Rs.

73.2 million followed by COMBN (Rs. 59 million), and EXPO (Rs. 43 million).

First Capital said the Bourse moved on an upward trajectory displaying a volatile trend as it closed the day on a positive note at 11,682 gaining 48 points.

Selected banking sector shares namely COMB, SAMP and SEYB alongside blue-chip companies backed the index exceptionally well to continue its positive momentum in the green zone.

Treasury shares witnessed panic selling due to the speculations of a possible introduction of withholding tax or a super gains tax on primary dealer companies.

JKH continued to back the turnover positively for the 9th consecutive session as foreign investors displayed improved buying interaction, First Capital added.