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Thursday, 17 September 2020 03:09 - - {{hitsCtrl.values.hits}}
The Colombo stock market gathered more momentum with over Rs. 3 billion turnover yet again and both indices up in what some brokers hail as ‘super September’.
Acuity Stockbrokers said the bourse ended on a positive note as the ASPI increased by 0.93% or 51.71 points to close at 5,585.40 points, while the S&P SL20 Index also increased by 0.71% or 17.03 points to close at 2,406.36.
Turnover increased by 10.2% relative to yesterday to Rs. 3.53 billion while the crossings amounted to 15.0% the day’s total turnover.
Foreign investors meanwhile, recorded a net outflow of Rs. 336 million over a net outflow of Rs. 970.2 million on Wednesday.
First Capital said investors continued on a buoyant attitude recording the seventh consecutive upsurge on the back of heavy retail activities. A continuous uptrend was witnessed from the ASPI since the beginning of the session due to the buying interest in selective mid-cap counters.
It said turnover continued its stance on Rs. 3 billion plus with Food and Beverage counters taking the lead after 4 months, closely followed by the Capital Goods counters, making a joint contribution of 38%. Parcel trades boosted the turnover for the day amounting to 15%. Market recorded low foreign participation edged by the selling-side resulting in a net outflow.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Distilleries, Melstacorp and Aitken Spence.
High net worth and institutional investor participation was noted in Hatton National Bank, Ceylon Cold Stores, Melstacorp and John Keells Holdings. Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company and ACL Cables, whilst retail interest was noted in Lanka IOC, Hayleys Fabric and Renuka Agri Foods.
Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Melstacorp), whilst the sector index gained 1.81%. The share price of Melstacorp recorded a gain of Rs. 2.80 (8.97%) to close at Rs. 34.00.
Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings), whilst the sector index edged up by 0.06%. The share price of John Keells Holdings moved down by Rs. 0.80 (0.58%) closing at Rs. 136.00 whilst foreign holdings decreased by 1,199,850 shares.
Expolanka Holdings, Hatton National Bank and Tokyo Cement Company were also included amongst the top turnover contributors. The share price of Expolanka Holdings decreased by Rs. 0.30 (3.23%) to close at Rs. 9.00. Furthermore, the share price of Hatton National Bank edged up by Rs. 0.10 (0.08%) to close at Rs. 122.60, while the share price of Tokyo Cement Company appreciated by Rs. 4.80 (10.02%) to close at Rs. 52.70.
