Friday Oct 25, 2024
FT
Friday Oct 25, 2024
Friday, 25 October 2024 02:32 - - {{hitsCtrl.values.hits}}
The Colombo stock market yesterday saw its turnover jump to an eight-month high of Rs. 4.8 billion, thanks to heavy trading on the back of improved investor sentiment.
The near Rs. 5 billion turnover involved 124.7 million shares. JKH saw trading worth Rs. 450 million followed by Sampath Bank (Rs. 406 million), and Commercial Bank (Rs. 257 million). The active S&P SL20 gained by 1.55% and the benchmark ASPI by 0.94%.
First Capital said the Colombo Bourse experienced sustained bullish momentum following several volatile trading sessions, as positive sentiment was maintained on banking sector counters and blue-chip stocks. The index reached an over 5-month high and closed the day at 12,474 gaining 116 points. JKH, SAMP, HNB, CTC and HAYL emerged as the top positive contributors to the index. Amidst the improved participation from retail and HNW investors, turnover marked an over 100% increase from the monthly average.
The Capital Goods Sector led turnover by 38%, followed by the Banking and Diversified Financials Sectors jointly contributing 36% of overall turnover. Foreign investors turned net sellers, with a net outflow of Rs. 39.8 million.
NDB Securities said indices closed in green as a result of price gains in counters such as John Keells Holdings, Sampath Bank and Hatton National Bank.
High net worth and institutional investor participation was noted in Hayleys, Sampath Bank and John Keells Holdings. Mixed interest was observed in Hatton National Bank, Sunshine Holdings and LVL Energy Fund whilst retail interest was noted in Hikkaduwa Beach Resort, Panasian Power and Industrial Asphalts.
The Capital Goods sector was the top contributor to the market turnover (due to Hayleys and John Keells Holdings) whilst the sector index gained 2.41%. The share price of Hayleys increased by Rs. 2.50 to Rs. 105.50. The share price of John Keells Holdings moved up by Rs. 6.50 to Rs. 209.50.
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 1.42%.
The share price of Sampath Bank gained Rs. 1.50 to Rs. 85.50. The share price of Hatton National Bank recorded a gain of Rs. 3.50 to Rs. 219.25.
Resus Energy was also included amongst the top turnover contributors with its share price up Rs. 1.80 to close at Rs. 27.80.
