• ASPI crosses 12,000 points before settling slightly below
• S&P SL20’s YTD return crosses 60% mark; market cap. surpasses 80% 

The Colombo stock market gathered greater momentum yesterday with both indices gaining, including the ASPI momentarily, surpassing the 12,000-point level on higher turnover. 

The All Share Price Index gained by over 136 points or 1.16% and S&PSL20 index improved by 32 points or 0.7%. Year-to-date (YTD) ASPI is up by 76.4% whilst S&PSL20's return crossed the 60% mark. Market capitalisation is up a whopping 80.7% to Rs. 5.34 trillion.

Turnover reached Rs. 6.6 billion from Rs. 3.8 billion, involving over 204 million shares. 

Asia Securities said the market witnessed another upbeat session with the ASPI closing sharply higher for the second consecutive day as local investors sought to front-line stocks across sectors, maintaining a positive bias throughout the session. 

In particular, Softlogic group’s stocks SCAP (16.4%), AAIC (24.8%), and SHL (24.6%) gained more traction during the session while REXP, HEXP and TYRE also boosted the momentum, ending with gains of 43.7%, 24.4% and 11% respectively. 

“Importantly, the ASPI crossed the historic 12,000 level for the first time and scaled an all-time high of 12,044 (+230 points) during the first half of the session before stabilising in the range of 11,950-11,990 as the session progressed,” Asia said, adding the S&P SL20 index closed with a modest gain due to sharp price declines recorded in the volatile LOFC (-4.5%) and CLC (-3.3%). 

Turnover was led by LIOC (Rs. 1,471 million), BIL (Rs. 655 million), and EXPO (Rs. 609 million). The breadth of the market continued positive with 119 gainers and 98 decliners.

Asia said foreigners recorded a net inflow of Rs. 8 million while their participation declined to 1.5% of turnover (previous day 2.1%). Net foreign buying topped in HAYL at Rs. 18.2 million and net selling topped in LIOC at Rs. 9.7 million. 

First Capital said the bourse ended in green territory following Wednesday’s gaining spree as investors regained confidence in the market while also recording a healthy turnover. 

“The index opened on an upbeat note and rose steeply, reaching an intraday high of 12,050, driven mainly by active retail participation. Subsequently, index slightly edged down but remained high and upheld a strong momentum before closing for the day at 11,951,” First Capital said, adding turnover was led by a joint contribution of 41% from the Energy sector and Capital Goods sector.

NDB Securities said the high net worth and institutional investor participation was noted in Hatton National Bank voting and non-voting, and Richard Pieris & Company. Mixed interest was observed in Expolanka Holdings, Brown & Company and Kelani Tyres, whilst retail interest was noted in Browns Investments, Softlogic Capital and Lanka IOC. 

Energy sector was the top contributor to the market turnover (due to Lanka IOC), whilst the sector index gained 4.37%. The share price of Lanka IOC increased by Rs. 4.50 (6.91%) to close at Rs. 69.60. The Capital Goods sector was the second highest contributor to the market turnover (due to Brown & Company), whilst the sector index increased by 1.16%. The share price of Brown & Company recorded a gain of Rs. 13.25 (3.90%) to close at Rs. 353.25.

Browns Investments, Expolanka Holdings and Kelani Tyres were also included amongst the top turnover contributors.

The share price of Browns Investments gained 30 cents (2.14%) to close at Rs. 14.30. The share price of Expolanka Holdings moved up by Rs. 7.50 (1.99%) to close at Rs. 385. The share price of Kelani Tyres appreciated by Rs. 9.90 (10.99%) to close at Rs. 100. 

CSE makes revised calculation methodology of ASPI public