CSE stays on the up; YTD net foreign selling tops Rs. 4 b

The Colombo stock market yesterday remained on the up though marginally but saw year to date net foreign outflow crossed the Rs. 4 billion mark.

The benchmark ASPI gained by 0.3% and the active S&P SL20 by 0.2%. Turnover was Rs. 1.5 billion involving 73.7 million shares.

Foreigners recorded a net outflow of Rs. 90.5 million increasing the year to date figure to Rs. 4 billion.

Net foreign buying topped in ACL.N at Rs. 17.7 million yesterday and selling topped in SEYB.X at Rs. 30.1 million.

Asia Securities said the indices continued their upward momentum for a third consecutive session on Tuesday (5th) with notable price gains recorded in DPL (15.8+%), DFCC (+4.6%) and LMF (+4.1%). Moreover, LIOC (+3.3%), VPEL (+2.2%) and COCR (+3.9%) recorded price gains. However, JKH (-1.1%), HNB (-1.7%), RCL (-1.2%), and TILE (-1.1%) closed in red. COMB contributed the most to the ASPI (+10 points), followed by DFCC (+9 points), and LIOC (+4 points) while HNB (-8 points), MELS (-7 points) and JKH (-7 points) came in as the biggest laggards on the ASPI. The breadth of the market remained positive with 120 price gainers and 56 decliners.

Turnover was led by DPL (Rs. 159 million), LMF (Rs. 147 million), and NTB (Rs. 62 million).

First Capital said the Bourse continued its upward trajectory for the third consecutive day, driven by growing retailer confidence amid easing uncertainties. Notably, selected banking counters including COMB, DFCC, and NDB saw active collection as investors started bargain hunting following previous price declines. Consequently, the index started on a solid note and maintained its steep ascent, reaching an intraday high of 10,878 before closing the day at a near 3-month high of 10,842, gaining 36 points. Moreover, retail interest was also noted on LIOC following the announcement of unchanged prices for Auto Diesel and Petrol 92.

DPL witnessed a stake change of c. 3.3% through an off-board transaction, totalling 5.4 million shares at Rs. 28 each.

NDB Securities said high net worth and institutional investor participation was noted in Dankotuwa Porcelain, John Keells Holdings and Seylan Bank nonvoting. Mixed interest was observed in Lanka Milk Foods, Nations Trust Bank and Vallibel One whilst retail interest was noted in SMB Leasing, Vallibel Power Erathna and Alumex.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Vallibel One) whilst the sector index lost 0.60%. The share price of John Keells Holdings recorded a loss of Rs. 2 to Rs. 188. The share price of Vallibel One appreciated by 80 cents to Rs. 45.10.

The Banking sector was the second highest contributor to the market turnover (due to Nations Trust Bank) whilst the sector index increased by 0.61%. The share price of Nations Trust Bank moved up by Rs. 1.25 to Rs. 101.75.

Dankotuwa Porcelain and Lanka Milk Foods were also included amongst the top turnover contributors. The share price of Dankotuwa Porcelain increased by Rs. 3.40 to Rs. 24.90. The share price of Lanka Milk Foods gained one Rupee to Rs. 25.50.