Thursday Nov 14, 2024
Thursday Nov 14, 2024
Thursday, 3 December 2020 00:46 - - {{hitsCtrl.values.hits}}
The Colombo stock market continued to maintain its resilience as investors sustained their positive sentiment.
The All Share Price Index was up 28 points or 0.45% and S&P SL20 Index up near 15 points or 0.6%. Turnover was Rs. 2.26 billion. First Capital said the Bourse “sustained the momentum in the positive direction for the seventh consecutive session while recording a 2 billion plus turnover for the fourth straight session.”
It said Capital Goods sector continued to lead the turnover for the session followed by Food and Beverage sector, making a joint contribution of 43%. Parcel trades in GREG, SEYB & DIST amounted to 8% of turnover.
“Index experienced a spike within the first hour of trading as it reached its intraday high of 6,370, and thereafter witnessed a gradual downtrend during mid-day. During the latter part of the session, market moved upwards and closed at 6,346 gaining 28 points,” First Capital added.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Ceylon Tobacco Company, Overseas Realty and Distilleries.
It said high net worth and institutional investor participation was noted in Ambeon Holdings, Seylan Bank and Distilleries. Mixed interest was observed in John Keells Holdings, Browns Investments and Royal Ceramics, whilst retail interest was noted in Expolanka Holdings, Melstacorp and Kelani Tyres. Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index edged down by 0.08%. The share price of John Keells Holdings edged up by Rs. 0.10 (0.07%) closing at Rs. 149 whilst foreign holdings decreased by 809,837 shares.
Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Melstacorp and Browns Investments) whilst the sector index increased by 0.71%. The share price of Melstacorp moved down by Rs. 0.80 (1.83%) to close at Rs. 43. The share price of Browns Investments closed flat at Rs. 2.60.
Expolanka Holdings and Ambeon Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings decreased by Rs. 0.40 (1.49%) to close at Rs. 26.40. The share price of Ambeon Holdings recorded a loss of Rs. 0.30 (1.49%) to close at Rs. 19.80.
Acuity Stockbrokers said foreign investors recorded a net outflow of Rs. 218.8 million compared to a net outflow of Rs. 76 million on Tuesday. According to First Capital, year to date net foreign outflow was Rs. 48.3 billion.
