Colombo stock market ends November with 9% gain

The Colombo stock market closed positive yesterday enabling to end November with a 9% gain. 

The All Share Price Index rose by 63 points or 1% whilst the S&P SL 20 index inched by over 20 points or 0.8%. Turnover was a healthy Rs. 2.4 billion. 

NDB Securities said during the month of November, the ASPI and S&P SL20 gained 9.03% and 7.52%, whilst recording an average daily turnover of Rs. 2.54 billion. The November gain was after a 4.3% dip by ASPI in October.  

First Capital said the week started in the green sustaining the momentum for the 5th consecutive session while recording a near 52-week high. 

“Index witnessed a continuous uptrend since the beginning of the session and reached its intraday high of 6,249 before closing at 6,243 with an advance of 63 points,” First Capital said adding: “Capital Goods, Materials and Transportation sectors completed a month of dominance in the turnover making a joint contribution of more than 50% consecutively.”

NDB securities said the ASPI closed in green as a result of price gains in counters such as Melstacorp, Commercial Bank and Carson Cumberbatch.

High net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in Royal Ceramics, Dipped Products and Hemas Holdings, whilst retail interest was noted in Expolanka Holdings, Melstacorp. 

Capital Goods sector was the top contributor to the market turnover (due to Royal Ceramics and John Keells Holdings) whilst the sector index gained 1.27%. The share price of Royal Ceramics gained Rs. 8.10 (5.53%) to close at Rs. 154.60. The share price of John Keells Holdings recorded a gain of Rs. 0.20 (0.14%) to close at Rs. 148.20.

Materials sector was the second highest contributor to the market turnover (due to Dipped Products) whilst the sector index increased by 1.20%. The share price of Dipped Products appreciated by Rs. 4.30 (1.29%) to close at Rs. 338.30.

Expolanka Holdings and Melstacorp were also included amongst the top turnover contributors. The share price of Expolanka Holdings increased by Rs. 1.00 (3.83%) to close at Rs. 27.10. The share price of Melstacorp moved up by Rs. 2.70 (6.82%) to close at Rs. 42.30.

Separately Alumex, Kelani Valley Plantations and Talawakelle Tea Estates announced their interim dividends of Rs. 0.25, Rs. 1.00 and Rs. 2.00 per share respectively.

Softlogic Stockbrokers said the market saw a net foreign outflow of Rs. 4.7 million with purchases of Rs. 145 and sales amounting to Rs. 149.7 million.