Colombo Bourse marks 9 consecutive days of gains

The Colombo stock market yesterday completed nine consecutive days of gains, thanks to continuous improvement in investor sentiment.

The All Share Price Index gained by 16 points or 0.3% and the S&P SL 20 Index by 9 points or 0.4%. Turnover was a healthy Rs. 1.27 billion. Foreign investors, however, continued to be net sellers. 

First Capital said the Bourse ended in the positive territory for the ninth consecutive session with the turnover recording above Rs. 1 billion continuously for almost three weeks on the back of bank and capital goods counters. 

“After recording a sideways movement during the first few minutes of trading, market experienced a downfall, thereafter moved sideways once again while recording its intraday low of 5,130 during mid-day. Later index experienced an uptrend and closed at its intraday high of 5,163 gaining 18 points,” First Capital said. 

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Commercial Bank, Richard Pieris and Company, and Softlogic Holdings.

High net worth and institutional investor participation was noted in Commercial Bank, LOLC Holdings and Nations Trust Bank.

Mixed interest was observed in Hatton National Bank, Hemas Holdings and Hayleys Fabric whilst retail interest was noted in ACL Cables, Tokyo Cement Company and First Capital Holdings.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Nations Trust Bank and Hatton National Bank) whilst the sector index gained 0.28%.

The share price of Commercial Bank decreased by Rs. 0.20 (0.26%) to close at Rs. 76.70 while the share price of Nations Trust Bank moved down by Rs. 0.40 (0.63%) to close at Rs. 63. Furthermore, the share price of Hatton National Bank recorded a loss of Rs. 0.90 (0.78%) to close at Rs. 114.50.

The Capital Goods sector was the second highest contributor to the market turnover whilst the sector index increased by 0.17%.

LOLC Holdings and Hayleys Fabric were also included amongst the top turnover contributors. The share price of LOLC Holdings gained Rs. 0.90 (0.72%) to close at Rs. 125.30 while the share price of Hayleys Fabric appreciated by Rs. 0.60 (4.88%) to close at Rs. 12.90.