CSE sets new benchmark as ASPI tops 15,000-points mark

Tuesday, 24 December 2024 03:23 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday set a new benchmark with the benchmark ASPI crossing the 15,000-points mark amidst a high Rs. 8.5 billion turnover.

The surpassing of the psychological 15,000-points mark was after the ASPI gained by 210 points or 1.4%. The benchmark index surpassed 1,000 points in less than a month, having reached 14,000 points on 11 December. The active S&P SL20 also gained by 1.76.

Trading of 443 million shares boosted turnover led by Browns Investments (Rs. 629 million), HNB (Rs. 578 million), Sampath Bank (Rs. 415 million), LOLC Holdings (Rs. 400 million), and JKH (Rs. 329 million).

First Capital said the Colombo bourse continued its bullish momentum from the previous weeks, starting the week on a positive note. The ASPI closed the day in green at 15,021, gaining 210 points for the 20th consecutive session, buoyed by Sri Lanka’s credit rating upgrade by Fitch Ratings. Trading activity surged significantly exceeding 48,000 trades, driven by strong retail demand for stocks like BIL, LOFC, and AEL. Additionally, moderate participation from HNWIs was also observed.

The activity in the Banking sector remained robust throughout the day. LOLC, HNB, SAMP, COMB, and BIL emerged as the top positive contributors to the index.

Amidst multiple off-board transactions, turnover marked an increase of 74.0% from the monthly average. The Banking sector led the turnover by 25%, followed by the Capital Goods and Diversified Financials sectors jointly contributing 33% of the overall turnover.

Foreign investors turned net buyers, with a net inflow of Rs. 43.2 million.

NDB Securities said indices closed in green as a result of price gains in counters such as LOLC Holdings, Hatton National Bank, and Hatton National Bank nonvoting.

High net worth and institutional investor participation was noted in Hatton National Bank, Ceylon Tobacco Company, and John Keells Holdings. Mixed interest was observed in Browns Investments, LOLC Holdings, and Sampath Bank, whilst retail interest was noted in SMB Leasing nonvoting, Industrial Asphalts, and HNB Finance.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank and Sampath Bank) whilst the sector index gained 2.22%. The share price of Hatton National Bank gained Rs. 9.50 to Rs. 281.50. The share price of Sampath Bank moved up by Rs. 2 to Rs. 109.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index edged down by 0.10%. The share price of John Keells Holdings declined by Rs. 0.10 to Rs. 22.40.

Browns Investments and LOLC Holdings were also included amongst the top turnover contributors. The share price of Browns Investments increased by Rs. 0.40 to Rs. 6.90. The share price of LOLC Holdings recorded a gain of Rs. 61 to Rs. 616.50.