Thursday Nov 14, 2024
Thursday Nov 14, 2024
Thursday, 14 November 2024 02:13 - - {{hitsCtrl.values.hits}}
The Colombo stock market yesterday sustained its Bull Run ahead of today’s Parliamentary Election, with the benchmark index reaching a new high amidst robust turnover.
The All Share Price Index (ASPI) gained 136 points or 1% to close at 13,125 points, the highest level in 34 months. The active S&P SL20 rose by 51 points or 1.3% to close short of 62 points to surpass the 4,000-points mark.
Turnover was Rs. 7 billion involving 204.5 million shares.
First Capital said the Bulls led the market for the fifth consecutive session with the ASPI closing above the psychological 13,000 mark at 13,135, gaining 136 points.
This marks the highest level since January 2022, driven by price gains across banks and blue-chip stocks. SAMP, HNB, LOLC, MELS, and CTHR emerged as the top positive contributors to the index.
Amidst multiple crossings and increased participation from retail investors, turnover rose by 62.7% compared to the previous session, reaching a two-week high as well as an increase of over 100% from the monthly average. Additionally, out of seven off-board transactions, notable transactions were recorded in DFCC where 9% of the stake in DFCC was traded at Rs. 85 per share through nine off-board transactions, which contributed 47.4% of the overall turnover.
The Banking sector led the turnover by 66%, followed by the Food, Beverage and Tobacco and Capital Goods sectors jointly contributing 17% of the overall turnover. Foreign investors turned net sellers with a net outflow of Rs. 66.4 million.
NDB Securities said indices closed in green as a result of price gains in counters such as Sampath Bank, Hatton National Bank, and LOLC Holdings.
Crossings were witnessed in DFCC Bank, Sampath Bank, Agarapatana Plantations, Nations Trust Bank, Commercial Bank, National Development Bank, and John Keells Holdings, accounting for 51.2% of the turnover.
Mixed interest was observed in National Development Bank, Lanka Milk Foods, and Browns Investments, whilst retail interest was noted in Waskaduwa Beach Resort, Beruwala Resorts, and Marawila Resorts.
The Banking sector was the top contributor to the market turnover (due to DFCC Bank, Sampath Bank, National Development Bank, and Nations Trust Bank) whilst the sector index gained 1.59%. The share price of DFCC Bank increased by Rs. 2.40 to Rs. 85.50. The share price of Sampath Bank gained Rs. 3 to Rs. 92.50. The share price of National Development Bank recorded a gain of Rs. 1.80 to Rs. 88.00. The share price of Nations Trust Bank appreciated by Rs. 2 to Rs. 144.25.
John Keells Holdings was also included amongst the top turnover contributors with its share price gaining by Rs. 0.20 to Rs. 21.60.
Separately, several companies announced interim dividends with Asia Siyaka Commodities PLC (Rs. 0.22), Ceylon Grain Elevators PLC (Rs. 15), Three Acre Farms PLC (Rs. 25), and PGP Glass Ceylon PLC (Rs. 0.80) per share.
