• ASPI crosses 7,900 point level, S&P SL20 goes past 3,000 point mark 
• Turnover remains low, foreign selling persists 

The Colombo stock market remained positive for the fifth consecutive day with indices reaching new milestone levels though turnover remained below average and foreign selling persisted. 

The All Share Price Index gained by 47 points or 0.6% to 7,913.47 points and the S&P SL20 improved by 14 points or 0.5% to 3,002.27 points. Turnover amounted to Rs. 1.93 billion involving 122.7 million shares.

First Capital said the bourse extended its bullish stance for the fifth consecutive day with ASPI crossing the 7,900 milestone and reaching an index high of five months. 

“Market consistently trended upwards since the beginning of the session, gaining 47 points while closing at 7,914,” First Capital said. It said turnover was led by the Capital Goods sector, followed by the Transportation sector jointly accounting for a total contribution of 35%. 

Asia Securities said the indices continued extending gains and carried on positive momentum throughout the session as both the indices surpassed milestones during the session. The ASPI surpassed the 7,900 level while the more liquid S&P SL20 index crossed the 3,000 level, supported by price gains in LOLC, DIPD and BRWN. 

Asia said turnover topped in EXPO, led by HNI and retail investors while overall activity was lower than yesterday’s level, albeit remaining healthy. Capital Goods, Transportation, Materials and Diversified Financials sectors led activity, collectively accounting for 65.4% of turnover. 

Asia said foreigners recorded a net outflow of Rs. 207.7 million while their participation declined to 6.7% of turnover (previous day 17.7%). Estimated net foreign buying topped in HNB.N at Rs. 8.1 million and net foreign selling topped in JKH at Rs. 119.1 million. The year to date net foreign outflow moved to Rs. 29.3 billion.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Carson Cumberbatch, LOLC Holdings and Browns Investments.

It said high net worth and institutional investor participation was noted in John Keells Holdings and Tokyo Cement Company nonvoting. Mixed interest was observed in Expolanka Holdings, LOLC Holdings and Dipped Products, whilst retail interest was noted in SMB Leasing, People›s Leasing & Finance and Hayleys Fabric. 

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index gained 0.93%. The share price of John Keells Holdings closed flat at Rs. 135.00, whilst foreign holdings decreased by 881,931 shares.

Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), whilst the sector index increased by 0.57%. The share price of Expolanka Holdings increased by Rs. 0.30 (0.57%) to close at Rs. 52.70.

LOLC Holdings, Dipped Products and Hayleys Fabric were also included amongst the top turnover contributors. The share price of LOLC Holdings gained Rs. 5.50 (1.34%) to close at Rs. 414.75. The share price of Dipped Products recorded a gain of Rs. 0.70 (1.31%) to close at Rs. 54.00. The share price of Hayleys Fabric declined by Rs. 0.20 (0.91%) to close at Rs. 21.70.

Separately, Commercial Credit & Finance announced a first and final dividend of Rs. 1.50 per share, whilst Tokyo Cement Company announced a final dividend of Rs. 0.85 per share.

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