CSE sustains new found bullish sentiments

Saturday, 22 March 2025 00:21 - - {{hitsCtrl.values.hits}}

The Colombo stock managed to close the week on the up marginally with sharp gains in the last two days erasing the decline earlier on.

During the week, both the benchmark ASPI gained by 0.1% and the active S&P SL20 by 0.7%.

Turnover for the week averaged at Rs. 1.9 billion.

On Friday, the ASPI gained by 1.4% or 216 points and the S&P SL 20 too by a similar percentage. Turnover was lower at Rs. 1.66 billion involving 54.5 million shares.

First Capital said the market remained gripped by Thursday’s bullish turn, fuelling a further rally in the ASPI. The ASPI climbed, retaining a consistent upward momentum through the day, amid feeble volatility.

The Banking sector once again stood out as a salient driver of ASPI’s performance with COMB, HNB, NDB and DFCC emerging as the top positive contributors followed by CARS. Yesterday’s gains were mostly a result of the conspicuous buying sentiment that overtook the market, particularly from HNW investors.

The Capital Goods sector dominated contributions to turnover with a share of 32%. This was followed by the Banking sector and the Food, Beverage and Tobacco sector which produced a joint contribution of 32%. Foreign investors were net sellers, accounting for a net outflow of Rs. 140.2 million.

NDB Securities high net worth and institutional investor participation was noted in John Keells Holdings, CIC Holdings and Hatton National Bank. Mixed interest was observed in R I L Property, Sampath Bank and Hemas Holdings whilst retail interest was noted in Hela Apparel Holdings, LOLC Finance and LVL Energy Fund.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.65%. The share price of John Keells Holdings closed flat at Rs. 20.50.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank and Hatton National Bank) whilst the sector index increased by 2.07%. The share price of Sampath Bank recorded a gain of Rs. 1.25 to Rs. 122. The share price of Hatton National Bank appreciated by Rs. 6.25 to Rs. 315.75.

R.I.L. Property and CIC Holdings were also included amongst the top turnover contributors. The share price of R.I.L. Property gained 70 cents to Rs. 15.50. The share price of CIC Holdings moved up by Rs. 4 to Rs. 118.00.

Separately Overseas Reality announced a first and final dividend of Rs. 1.35 per share.

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