CSE starts festive December in green and highest gain in a month

The Colombo stock market yesterday began the festive month of December in green with both indices gaining by over 1%.

The active S&P SL20 was up by 1.23% and the benchmark ASPI by 1.2%. Turnover was Rs. 962.2 million involving 38.7 million shares.

During the week the ASPI and the S&P SL20 gained 1.8% and 2.2% respectively whilst recording an average daily turnover of Rs. 982 million.

Asia Securities said the ASPI continued its positive momentum for a third consecutive session on Friday (01) and crossed the 10,700 mark supported by active buying in banking sector counters DFCC (+7.1%), SAMP (+2.6%), NDB (+2.6%), NTB (+6.7%), HNB (+2.9%), COMB (+3.2%), and PABC (+3.2%). The sector index gained 3.4% during the session. Additionally, CALT (+3.0%), LION (+2.4%), DIST (+1.9%), LIOC (+1.2%), and CFIN (+3.3%) provided further boost to the index. COMB (+18 points), DFCC (+15 points), and HNB (+14 points) came in as the major index movers for the day.

Turnover was led by SAMP (Rs. 166 million) and EXPO (Rs. 114 million). 

Foreigners recorded a net inflow of Rs. 4.8 million. Net foreign buying topped in SAMP.N at Rs. 23.6 million and selling topped in CINS.X at Rs. 9.4 million.

First Capital said the Bourse settled firmly in the green zone trading positively throughout the day, continuing its upward trend for the 3rd consecutive day, recording the biggest gain in the past month. 

The market confidence was carried forward to today from the earlier agreement with the Official Creditor Committee (OCC), led by the Paris Club and India with the index closing at 10,720, 126 points higher than the previous session. 

The market growth was led predominantly by banking counters such as COMB, DFCC, HNB and SAMP. The Banking sector was the largest contributor towards the overall turnover with them alone contributing 36.9% of the total turnover. Crossing transactions took place on SAMP, LION and EXPO, with the largest being on EXPO. Foreign investors remained net buyers.

NDB Securities said high net worth and institutional investor participation was noted in Expolanka Holdings, Sampath Bank, and Lion Brewery. Mixed interest was observed in John Keells Holdings, National Development Bank and Nations Trust Bank whilst retail interest was noted in Capital Alliance, Softlogic Capital and Browns Investments. 

The Banking sector was the top contributor to the market turnover (due to Sampath Bank) whilst the sector index gained 3.38%. The share price of Sampath Bank increased by Rs. 1.80 to Rs. 69.80.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lion Brewery) whilst the sector index increased by 0.68%. The share price of Lion Brewery appreciated by Rs. 20.75 to Rs. 895.75.

Expolanka Holdings, Capital Alliance and John Keells Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings gained Rs. 2.25 to Rs. 132.25. The share price of Capital Alliance moved up by Rs. 1.90 to Rs. 65.70. The share price of John Keells Holdings recorded a gain of 50 cents to Rs. 192.25.