Buying returns boosting turnover at CSE

The Colombo stock market bounced back yesterday as a fresh round of buying returned, boosting the turnover. 

Acuity Stockbrokers said the Bourse ended on a mixed note as the ASPI increased by 0.10% or 5.38 points to close at 5,316.05 points, while the S&P SL20 Index decreased by 0.01% or 0.25 points to close at 2,307.64.

Turnover increased by 65.9% relative to Monday to Rs. 1.26 billion, while the crossings amounted to 32.6% the day’s total turnover. 

Foreign investors meanwhile recorded a net outflow of Rs. 0.24 billion over the day, compared to a net outflow of Rs. 0.02 billion on Monday.

First Capital said the Bourse reversed the 3-day losing streak on the expectation of a green drive due to optimism brought in by the Government. 

“The index experienced an upward movement within the first 30 minutes of trading, and thereafter recorded a downtrend till mid-day. Later, the market recorded a gradual recovery and reached its intraday high at 5,326 before closing at 5,316 with an advance of 5 points,” First Capital added.  Turnover continued to be dominated by the Capital Goods counters contributing 44% led by JKH. Moreover the parcel trades in JKH and HNB boosted the turnover amounting to 33%. 

NDB Securities said the ASPI edged up as a result of price gains in counters such as Lion Brewery, Distilleries and Commercial Leasing & Finance.

High net worth and institutional investor participation was noted in John Keells Holdings, Hatton National Bank and Piramal Glass. 

Mixed interest was observed in Expolanka Holdings, Sampath Bank and Dialog Axiata, whilst retail interest was noted in ACL Cables, LOLC Holdings and Kelani Tyres.  Furthermore, foreigners closed as net sellers mainly due to foreign selling in John Keells Holdings.

Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.26%. The share price of John Keells Holdings closed flat at Rs. 133.00 whilst foreign holdings decreased by 1,400,000 shares.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index edged up by 0.01%. The share price of Sampath Bank edged up of Rs. 0.10 (0.08%) to close at Rs. 122.20.

Piramal Glass, Expolanka Holdings and Dialog Axiata were also included amongst the top turnover contributors. The share price of Piramal Glass gained Rs. 0.20 (4.88%) to close at Rs. 4.30 whilst, the share price of Expolanka Holdings moved up by Rs. 0.10 (1.61%) to close at Rs. 6.30.

Furthermore, the share price of Dialog Axiata declined by Rs. 0.10 (0.90%) to close at Rs. 11.00.