Colombo stock market’s positive momentum persists

The Colombo stock market’s positive momentum continued for the third consecutive day infusing fresh confidence to investors. 

Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.73% or 43.08 points to close at 5,984.50 points, while the S&P SL20 Index also increased by 0.97% or 27.61 points to close at 2,876.90.

Turnover decreased by 34.2% relative to Wednesday to amount to Rs. 604 million while the crossings for the day amounted to 30.3% of the day’s total turnover.

Foreign investors meanwhile, recorded a net outflow of Rs. 125.9 million over the day compared to a net outflow of Rs. 265.2 million recorded on Wednesday.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Ceylon Tobacco Company, Distilleries and Sampath Bank. A similar behaviour was witnessed in the S&P SL20. 

High net worth and institutional investor participation was noted in Hatton National Bank, Sampath Bank and Ceylon Tobacco Company. 

Mixed interest was observed in Chevron Lubricants and LOLC Holdings whilst retail interest was noted in Access Engineering. 

Furthermore, foreigners remained active closing as net sellers. Total foreign sales accounted for 57.0% of the turnover.

Banks sector was the top contributor to the market turnover (due to Hatton National Bank and Sampath Bank) whilst the sector index gained 1.21%. The share price of Hatton National Bank increased by Rs. 0.20 (0.12%) to close at Rs. 162.10. The share price of Sampath Bank gained Rs. 4.20 (2.62%) to close at Rs. 164.70.

Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to the Ceylon Tobacco Company) whilst the sector index increased by 1.58%. The share price of Ceylon Tobacco Company moved up by Rs. 39.80 (3.75%) to close at Rs. 1,100.00. Chevron Lubricants and LOLC Holdings were also included amongst the top turnover contributors. The share price of Chevron Lubricants recorded a gain of Rs. 3.30 (4.73%) to close at Rs. 73.00. The share price of LOLC Holdings appreciated by Rs. 0.40 (0.25%) to close at Rs. 159.00.