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The Colombo Stock Market rally remained relentless as it notched up a record Rs. 15 billion in turnover and the more active index soaring by over 5.6%. The benchmark All Share Price Index (ASPI) gained by 2.7% or 231 points and the S&P SL20 by over 188 points or 5.69%. Turnover was Rs. 14.9 billion, a one-year high. First Capital said the two giants competed (John Keells Holdings and LOLC) to sustain the record-breaking streak for the fourth consecutive session. LOLC saw its market capitalisation rise to Rs. 181.17 billion, whilst John Keells Holdings (JKH) dominated at Rs. 239 billion.
“Index experienced a strong uptrend during the early hour of trading, thereafter moved sideways and closed at 8,694 with an advance of 231 points,” it added.
The Capital Goods sector led the turnover for the session, closely followed by the Materials sector, making a combined contribution of 43%.
Expolanka topped the turnover league with Rs. 1.8 billion, followed by LOLC Holdings Rs. 1.6 billion and JKH Rs. 1.2 billion. Premier blue chip JKH made the biggest contribution (39 points) to ASPI's gain, followed by LOLC, Expolanka and Melstacorp.
NDB Securities said indices closed in green as a result of price gains in counters such as JKH, LOLC Holdings and Expolanka Holdings.
It said high net worth and institutional investor participation was noted in Teejay Lanka, HNB non-voting and Commercial Bank. Mixed interest was observed in JKH, Melstacorp and Hayleys, whilst retail interest was noted in Expolanka Holdings, Dipped Products and Industrial Asphalts.
The Capital Goods sector was the top contributor to the market turnover (due to JKH), whilst the sector index gained 4.05%. The share price of JKH moved up by Rs. 13.00 (7.73%) to close at Rs. 181.25.
The Materials sector was the second highest contributor to the market turnover (due to Dipped Products and Industrial Asphalts), whilst the sector index increased by 7.37%. The share price of Dipped Products recorded a gain of Rs. 125.50 (22.36%) to close at Rs. 686.75. The share price of Industrial Asphalts appreciated by Rs. 0.40 (50.00%) to close at Rs. 1.20.
Expolanka Holdings and LOLC Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings increased by Rs. 6.80 (12.34%) to close at Rs. 61.90. The share price of LOLC Holdings gained Rs. 30.00 (8.54%) to close at Rs. 381.25.
Net foreign selling was near Rs. 5 billion (Rs 4.7 billion as of yesterday), with a highest outflow of Rs. 754 million so far this year.
Asia Securities said estimated net foreign buying topped in EXPO at Rs. 31 million and net foreign selling topped in TeeJay at Rs. 232.5 million.
