Thursday Nov 21, 2024
Thursday Nov 21, 2024
Wednesday, 18 August 2021 00:19 - - {{hitsCtrl.values.hits}}
The stock market rebounded strongly yesterday with sharp gains by the indices amidst healthy turnover.
The All Share Price Index gained by over 197 points or 2.5% and the S&PSL20 improved by near 2% or over 56 points. Turnover amounted to Rs. 2.9 billion involving 158.5 million shares.
NDB Securities said the ASPI recorded the highest day-gain in five months as a result of price gains in counters such as LOLC Development Finance, Commercial Leasing & Finance and Expolanka Holdings.
First Capital said the bourse recouped earlier session losses, recording an index high of nearly two weeks as investors started bargain hunting following the price declines of Monday.
“The bourse had yet another late start to the market as the authorities ironed out teething issues in the system. The index remained firmly green throughout the session, closing at an intraday high of 8,135,” it added.
It said turnover was led by the Transportation sector, followed by the Capital Goods sector, accounting for a joint contribution of 52%. Foreign investors remained net sellers while recording low participation.
NDB Securities also said high net worth and institutional investor participation was noted in Unisyst Engineering, Ceylon Cold Stores and DFCC Bank. Mixed interest was observed in Expolanka Holdings, LOLC Holdings and John Keells Holdings, whilst retail interest was noted in Lanka Orix Finance, Singhe Hospitals and Commercial Leasing & Finance. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.
Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings), whilst the sector index gained 8.18%. The share price of Expolanka Holdings increased by Rs. 6.50 (8.22%) to close at Rs. 85.60.
The Capital Goods sector was the second highest contributor to the market turnover (due to Unisyst), whilst the sector index increased by 1.60%. The share price of Unisyst gained Rs. 0.90 (10.47%) to close at Rs. 9.50.
Lanka Orix Finance, LOLC Holdings and Commercial Leasing & Finance were also included amongst the top turnover contributors. The share price of Lanka Orix Finance moved up by Rs. 1.20 (17.65%) to close at Rs. 8. The share price of LOLC Holdings recorded a gain of Rs. 24.25 (5.67%) to close at Rs. 452. The share price of Commercial Leasing & Finance appreciated by Rs. 3.30 (38.82%) to close at Rs. 11.80.
