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Friday Nov 15, 2024
Tuesday, 12 January 2021 01:48 - - {{hitsCtrl.values.hits}}
The Colombo stock market remained buoyant recording above average high turnover and indices on the up thanks to sustained investor interest.
The All Share Price Index (ASPI) gained by 85 points or 1.18% and the S&P SL20 Index moved up by 26 points or 0.96%. Turnover was an impressive Rs. 7.7 billion.
The negative feature remains net foreign selling with yesterday’s amount of Rs. 183 million, bringing the total year to date to Rs. 1.14 billion.
First Capital said the Bourse continued the drive in the positive direction for the 10th consecutive session sustaining the turnover above Rs. 2 billion for close to two weeks.
“Index experienced a continuous uptrend since the beginning of the session and closed at 7,204 with an advance of 84 points,” it added.
The Food & Beverage sector continued to dominate the turnover followed by the Transportation sector, making a joint contribution of 48%.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Browns Investments, Expolanka Holdings and John Keells Holdings.
It said high net worth and institutional investor participation was noted in Asia Capital, Colombo Fort Land & Building and Expolanka Holdings. Mixed interest was observed in Union Bank, Hayleys and C T Holdings, whilst retail interest was noted in Browns Investments, Hayleys Fabric and CIC Holdings.
The Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Browns Investments), whilst the sector index gained 1.55%. The share price of Browns Investments increased by Rs. 0.70 (10.77%) to close at Rs. 7.20.
The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), whilst the sector index increased by 12.40%. The share price of Expolanka Holdings gained Rs. 4.30 (12.54%) to close at Rs. 38.60.
Union Bank, Hayleys and Hayleys Fabric were also included amongst the top turnover contributors. The share price of Union Bank moved up by Rs. 0.30 (1.91%) to close at Rs. 16.
Furthermore, the share price of Hayleys recorded a gain of Rs. 9 (2.16%) to close at Rs. 425.75, whilst the share price of Hayleys Fabric appreciated by Rs. 3 (10.00%) to close at Rs. 33.
Asia Securities said estimated net foreign buying topped in PLC at Rs. 17.5 million and net foreign selling topped in CTHR at Rs. 217.5 million.
