CSE reverts to YTD positive territory but sees Rs. 282 m net foreign selling

Thursday, 3 April 2025 05:18 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday reverted to positive territory year-to-date (YTD) thanks to investors sustaining the buying momentum.

The benchmark ASPI gained by 73 points or 0.46% thereby finishing the YTD up by 0.39%. Last week it closed negatively. The active S&P SL20 gained by over 10 points or 0.2% but remains YTD negative at 2%.

Turnover yesterday was Rs. 2.3 billion involving 79.6 million shares.

First Capital said investor sentiment remained positive during the trading session continuing from Tuesday’s sentiment, driving the Colombo bourse to close in the green at 16,007, up by 73 points. However, selected Banking sector stocks exerted downward pressure on the index compared to previous sessions, with the Banking sector’s contribution to the index being moderate. Retail and high-net-worth investor participation remained strong, as reflected by several crossings.

Top contributors to the index included HAYL, CTC, RCL, LLUB, and DIAL. Turnover marked an 8.7% increase from the monthly average, driven by multiple crossings. The Capital Goods sector led in turnover, accounting for 33%, while the Food, Beverage, and Tobacco, along with Materials sectors, jointly contributed 31% to the overall turnover.

Asia Securities said the market improved supported by price gains in CICN (+3.6%), HAYL (+3.0%), DIAL (+2.1%), and LIOC (+1.7%). Notably, construction sector stocks—RCL (+2.6%), PARQ (+2.3%), and AEL (+1.8%)—along with NBFI sector stocks such as VFIN (+3.7%), LFIN (+2.4%), and COCR (+1.3%) gained investor interest during the session. HAYL (+12 points) and CTC (+7 points) came in as the major index movers for the day. The market breadth was positive with 137 price gainers and 71 decliners.

Foreigners recorded a net outflow of Rs. 282 million. Net foreign buying topped in LION at Rs. 3.4 million and selling topped in JKH at Rs. 245.3 million.

NDB Securities said high net worth and institutional investor participation was noted in Dipped Products, Access Engineering and Lanka IOC. Mixed interest was observed in John Keells Holdings, Hayleys and CIC Holdings whilst retail interest was noted in Nation Lanka Finance, Hela Apparel Holdings and Raigam Wayamba Salterns.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings, Hayleys and Access Engineering) whilst the sector index gained 0.38%. The share price of John Keells Holdings decreased by 10 cents to Rs. 20.20. The share price of Hayleys gained Rs. 4.25 to Rs. 147.75. The share price of Access Engineering moved up by 70 cents to Rs. 40.30.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover whilst the sector index increased by 0.42%.

CIC Holdings and Sampath Bank were also included amongst the top turnover contributors. The share price of CIC Holdings recorded a gain of Rs. 4.25 to Rs. 123.25. The share price of Sampath Bank closed flat at Rs. 115.50.

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