The Colombo stock market began a fresh week on a mixed note with the two indices moving in opposite directions, though turnover remained healthy. 

The All Share Price Index managed to close on the up by 0.15%, or 11 points, whilst the more active S&PSL20 closed negatively down by 0.6%, or 19 points. Turnover was Rs. 1.95 billion involving 62.5 million shares.

Foreign investors were net buyers to the tune of Rs. 11 million which was another positive development. 

First Capital said the bourse sustained its positive drive for the fifth consecutive day while recording nearly a week low turnover of less than Rs. 2 billion. 

“Index soared sharply reaching an intraday peak at 7,757 during the initial minutes of trading followed by a major decline hitting an intraday low at 7,715 within the first hour of the session. Later, the market moved laterally with substantial volatility for the rest of the session, closing at 7,727,” First Capital added.

It said turnover was led by the Food, Beverage and Tobacco sector followed by the Diversified Financials sector accounting for 55%. 

Asia Securities said the ASPI commenced the session reaching a high of 7,755 level (+40 points) before witnessing a decline and reversed early gains. However, the index gradually picked up on the back of price gains in index-heavy counters such as NIFL, NEST and CDBX and closed higher for the fifth consecutive session. 

It said turnover remained at modest levels, led by retail activity while institutional activity was witnessed in HNB and NEST. Food, Beverage and Tobacco, Diversified Financials, Capital Goods and Banks sectors led activity, collectively accounting for 76.9% of turnover. 

Asia also said foreigners recorded a net inflow of Rs. 11.1 million while their participation increased to 20.7% of turnover (previous day 2.9%). Estimated net foreign buying topped in NEST at Rs. 99.5 million and net foreign selling topped in BUKI at Rs. 75.2 million. 

NDB Securities said the ASPI closed in green as a result of price gains in counters such as LOLC Development Finance, Nestlé Lanka and Carson Cumberbatch.

It said high net worth and institutional investor participation was noted in Alliance Finance Company and Lion Brewery. Mixed interest was observed in Associated Motor Finance Company, Dipped Products and Expolanka Holdings, whilst retail interest was noted in Browns Investments, SMB Leasing voting and nonvoting. 

Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Nestlé Lanka and Browns Investments), whilst the sector index gained 0.67%. The share price of Nestlé Lanka increased by Rs. 81.25 (7.26%) closing at Rs. 1,200 whilst foreign holdings increased by 82,956 shares. The share price of Browns Investments recorded a loss of Rs. 0.10 (1.59%) to close at Rs. 6.20.

Diversified Financials sector was the second-highest contributor to the market turnover (due to LOLC Holdings and Alliance Finance Company), whilst the sector index increased by 1.53%. The share price of LOLC Holdings lost Rs. 3 (0.71%) to close at Rs. 416.75. The share price of Alliance Finance Company moved down by Rs. 1.20 (1.53%) to close at Rs. 77.30.

Expolanka Holdings was also included amongst the top turnover contributors. The share price of Expolanka Holdings declined by Rs. 1.10 (2.13%) to close at Rs. 50.60.

Separately Expolanka Holdings announced an interim dividend of Rs. 1.17 per share, whilst Citizens Development Business Finance announced a final dividend of Rs. 7.50 per share.

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