Thursday Nov 14, 2024
Thursday Nov 14, 2024
Tuesday, 13 October 2020 01:31 - - {{hitsCtrl.values.hits}}
The Colombo stock market enjoyed higher turnover as well as gain by the benchmark All Share Price Index, as investors began a fresh week amidst growing positive COVID-19 cases in the country. Acuity Stockbrokers said the Bourse ended on a mixed note as the ASPI increased by 0.73% or 42.33 points to close at 5,841.05 points, while the S&P SL20 Index decreased by 0.59% or 13.79 points to close at 2,334.71.
Turnover increased by 24.3% to Rs. 3.8 billion from Friday’s level while Expolanka accounted for 22.1% of the day’s total turnover.
Foreign investors recorded a net outflow of Rs. 224.4 million as against Rs. 92 million outflow on Friday.
First Capital said the benchmark index ASPI sustained the fourth consecutive day in the green territory due to the heavy retail optimism in mid-cap counters, while S&P SL20 experienced a downfall.
“Index recorded strong uptrend during the early hour of trading as it reached its intraday high of 5,869. Later, the market experienced a downward movement and closed at 5,841 gaining 42 points,” First Capital said. It said material counters led the turnover for the session with the aid of TKYO, closely followed by Transportation counters, making a joint contribution of 50%.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Expolanka Holdings, Carson Cumberbatch and RIL Property.
It said high net worth and institutional-investor participation was noted in Expolanka Holdings and Tokyo Cement Company non-voting.
Mixed interest was observed in Tokyo Cement Company, RIL Property and Hayleys Fabric, whilst retail interest was noted in Renuka Agri Foods, Raigam Wayamba Salterns and Piramal Glass.
Materials sector was the top contributor to the market turnover (due to Tokyo Cement Company voting and non-voting) whilst the sector index gained 5.30%. The share price of Tokyo Cement Company non-voting gained Rs. 5.00 (10.99%) closing at Rs. 50.50, whilst foreign holdings decreased by 2,231,075 shares. Further, the share price of Tokyo Cement Company moved up by Rs. 5.00 (9.03%) to close at Rs. 60.40.
Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) whilst the sector index increased by 14.37%. The share price of Expolanka Holdings increased by Rs. 2.10 (14.38%) to close at Rs. 16.70.
RIL Property and Hayleys Fabric were also included amongst the top turnover contributors. The share price of RIL Property recorded a gain of Rs. 2.10 (29.17%) to close at Rs. 9.30 while the share price of Hayleys Fabric declined by Rs. 1.10 (4.47%) to close at Rs. 23.50.
