The Colombo stock market remained positive yesterday reinforcing its latest status as the world’s second best performing with improved investor sentiment and activity.

Both indices closed with 0.5% gain after dipping in early trading. Turnover was Rs. 2.5 billion involving 97.4 million shares. Net foreign inflow persisted as well. Year to date the ASPI has gained by 14.3% and the S&P SL20 by 8.7%.

Asia Securities said following an early decline, the indices rebounded into positive territory as price gains in RCL (+7.2%), TILE (+17.7%), ALUM (+7.3%), LWL (+11.9%), and VONE (+7.5%) helped to offset the losses recorded by DIAL (-1.8%), HNBN (-2.2%), BIL (-1.6%), NDB (-3.7%), SLTL (-1.8%), and CALT (-1.9%). 

The ASPI initially reached an intra-day low of 9,609 (-39 points) as investors continued to book profits in banking counters at market open. However, the index recovered subsequently and ended on a positive note with a gain of 56 points on the back of renewed buying of tile companies. VONE (+30 points) came in as the biggest contributor to the ASPI while COMB (-8 points) dragged the index the most during the session. The breadth of the market was positive with 116 price gainers and 74 decliners. 

Turnover was led by HAYL (Rs. 286 million), RCL (Rs. 202 million), and MELS (Rs. 140 million). Crossings accounted for 18.2% of turnover with 2 crossings each in HAYL (Rs. 218.4 million) MELS (Rs. 98.8 million) 1 crossing each in LIOC (Rs. 38.9 million) ALUM (Rs. 36 million), RCL (Rs. 34 million) and HNBN (Rs. 27 million).

Asia also said foreigners recorded a net inflow of Rs. 21.1 million. Net foreign buying topped in RICH.N at Rs. 96.6 million ($ 302,000) while selling topped in MELS at Rs. 98.8 million.

First Capital said the bourse closed in green for the sixth straight day with the bullish sentiment continuing to take charge while investor activities reactivated broadly across all sectors. 

It said the Index moved with a sizable volatility during the session, where initially ASPI plunged to an intraday low of 9,606 as profit booking was observed on banking sector counters after persistent gains made during the previous sessions. However, index picked up gradually thereafter as tile related counters moved positively with expectations of dividends, following the dividend announcement of TILE amounting to a DPS of Rs. 6.50. 

High net worth clients displayed interest on selected large cap counters and index heavy weights while ASPI closed for the day at 9,703 gaining 56 points. 

NDB Securities said high net worth and institutional investor participation was noted in Hayleys, Melstacorp and Lanka IOC. Mixed interest was observed in Royal Ceramics, John Keells Holdings and Lanka Walltiles whilst retail interest was noted in Alumex, Softlogic Capital and Browns Investments. The Capital Goods sector was the top contributor to the market turnover (due to Hayleys, Royal Ceramics and John Keells Holdings) whilst the sector index gained 2.34%. The share price of Hayleys increased by 80 cents to Rs. 78.20. The share price of Royal Ceramics gained Rs. 2.30 (7.19%) to Rs. 34.30. The share price of John Keells Holdings recorded a gain of Rs. 2.25 to Rs. 142.50.

The Materials sector was the second highest contributor to the market turnover (due to Alumex) whilst the sector index increased by 1.60%. The share price of Alumex appreciated by 60 cents (7.32%) to close at Rs. 8.80.

Melstacorp was also included amongst the top turnover contributors. The share price of Melstacorp closed flat at Rs. 60.

Separately Lanka Walltiles, Tea Smallholder Factories and John Keells announced first interim cash dividends of Rs. 6.30, Rs. 6.67 and Rs. 2.95 per share respectively

Dr. Senthilverl enters Hayleys