CSE reverts to positive territory

Friday, 14 February 2025 00:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday reverted to positive territory after three days of profit taking and bearish sentiments.

The benchmark ASPI gained by over 232 points or 1.41% and the active S&P SL20 by 1.07%. Turnover was Rs. 3.58 billion involving 111.26 million shares. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

First Capital said Colombo Stock Exchange yesterday shrugged off the lethargy that was evident across the last two sessions, gaining momentum and ending the day in the green.

Despite an initial dip that was seen in the early hours of today the ASPI persistently inched upwards amid mild volatility that was present across yesterday’s session. The ASPI concluded the day at 16,578, having gained nearly 233 points compared to the last trading session.

This turnaround was also supported by greater investor participation and heightened trading activity. CINS, CFIN, SAMP, LOLC and NDB emerged as the top positive contributors to the ASPI.

On the flip side, CTC, HNB and SPEN exerted noteworthy adverse pressure on the ASPI. Market turnover rose to Rs. 3.6 billion from Rs. 2.4 billion recorded in the last trading session. While this is still lower than the monthly average of Rs. 5.7 billion, turnover appears to have consistently increased this week.

The Consumer Durables segment dominated turnover contributions with a 26% share. This was followed by Capital Goods, and the Banking sectors, which collectively accounted for 32% of total turnover.

NDB Securities said high net worth and institutional investor participation was noted in Ambeon Capital, Printcare and Ceylinco Holdings. Mixed interest was observed in John Keells Holdings, Hatton National Bank and Sierra Cables whilst retail interest was noted in Waskaduwa Beach Resort, Hela Apparel Holdings and Industrial Asphalts.

The consumer durables and apparel sector was the top contributor to the market turnover (due to Ambeon Capital) whilst the sector index gained 0.96%. The share price of Ambeon Capital increased by 10 cents to close at Rs. 30.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.77%. The share price of John Keells Holdings moved up by 10 cents to close at Rs. 22.50. Printcare, Ceylinco Holdings and Hatton National Bank were also included amongst the top turnover contributors. The share price of Printcare gained Rs. 5.70 to close at Rs. 66.40. The share price of Ceylinco Holdings recorded a gain of Rs. 287.50 to close at Rs. 3,390. The share price of Hatton National Bank declined by Rs. 1.25 to close at Rs. 328.25.

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