Indices mixed at Colombo Bourse; turnover remains healthy

The indices at the Colombo stock market moved different directions but the market remained positive overall with healthy turnover. 

The All Share Price Index (ASPI) decreased by 0.97% or 45.81 points to close at 4,655.22 points while the S&P SL20 Index increased by 0.93% or 17.49 points to close at 1,904.14. 

Market turnover increased by 27.8% relative to Tuesday’s to amount to Rs. 1.5 billion while the crossings for the day amounted to 15.3% of the day’s total turnover Acuity Stockbrokers said. 

Foreign investors recorded a net outflow of Rs. 646.9 million as against Rs. 469 million the previous day. 

Total foreign sales accounted for 51.8% of the turnover.

First Capital said the Bourse ended in negative territory reversing the impact seen in the previous sessions predominantly due to the price losses in Ceylon Tobacco and Dialog, while 67% of the turnover for the session was contributed by the Banking sector, including the parcel trades made in Sampath Bank and Commercial Bank. 

The ASPI reached its intraday high of 4,760 within the first 10 minutes of trading and later moved downwards and met with its intraday low of 4,632 before closing at 4,655, losing 46 points. 

NDB Securities said high net worth and institutional investor participation was noted in Sampath Bank, Commercial Bank and Hatton National Bank. Mixed interest was observed in Dialog Axiata, John Keells Holdings and Teejay Lanka whilst retail interest was noted in Browns Investments. Furthermore, foreigners remained active closing as net sellers. 

The Banking sector was the top contributor to the market turnover (due to Sampath Bank, Commercial Bank and Hatton National Bank) whilst the sector index gained 2.36%. The share price of Sampath Bank increased by Rs. 2.20 (1.91%) to close at Rs. 117.20. The share price of Commercial Bank gained Rs. 4.50 (7.81%) to close at Rs. 62.10. The share price of Hatton National Bank moved up by Rs. 0.80 (0.83%) to close at Rs. 96.90. 

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.26%. The share price of John Keells Holdings recorded a gain of Rs. 1.70 (1.82%) to close at Rs. 95.10. Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata declined by Rs. 0.50 (5.15%) to close at Rs. 9.20.