The Colombo stock market yesterday gathered more steam with a Rs. 3.2 billion turnover, apart from key indices on the up for more than a week.
Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.78% or 43.09 points to close at 5,533.69 points, while the S&P SL20 Index also increased by 0.28% or 6.56 points to close at 2,389.33.
Turnover increased by 40.2% relative to Monday to Rs. 3.21 billion, while the crossings amounted to 28.0% the day’s total turnover. Foreign investors recorded a net outflow of Rs. 970.2 million over a net outflow of Rs. 70.2 million on Monday.
First Capital said retail investors played the market, aiding the Bourse to mark an uptick for the sixth consecutive session.
“The ASPI witnessed a double hump-shaped uptrend within the day, with a short break during mid-day, and closed at 5,534, breaking the short term psychological level of 5,500 with an advance of 43 points,” First Capital said.
It said the market recorded the sixth Rs. 3 billion plus turnover for the year, led by the Capital Goods counters contributing 38%. Moreover the parcel trades in JKH, SAMP & COMB boosted the turnover amounting to 39% of the total. The market experienced a net foreign outflow while recording moderate participation.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Distilleries, Richard Pieris & Company and Expolanka Holdings.
High net worth and institutional investor participation was noted in John Keells Holdings, Hemas Holdings and Ceylon Cold Stores.
Mixed interest was observed in Expolanka Holdings, Hayleys Fabric and Kelani Tyres whilst retail interest was noted in Richard Pieris & Company, Renuka Agri Foods and Tokyo Cement Company. Foreigners remained active closing as net sellers mainly due to foreign selling in John Keells Holdings.
Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index gained 2.18%. The share price of John Keells Holdings increased by Rs. 1.00 (0.74%) closing at Rs. 136.80, whilst foreign holdings decreased by 5,996,434 shares.
Food, Beverage & Tobacco sector was the second highest contributor to the market turnover, whilst the sector index increased by 0.74%.
Expolanka Holdings, Commercial Bank, Hayleys Fabric and Sampath Bank were also included amongst the top turnover contributors. The share price of Expolanka Holdings gained Rs. 1.70 (22.37%) to close at Rs. 9.30. The share price of Commercial Bank moved down by Rs. 0.70 (0.88%) to close at Rs. 78.60. Furthermore, the share price of Hayleys Fabric recorded a gain of Rs. 0.80 (4.57%) to close at Rs. 18.30 while, the share price of Sampath Bank declined by Rs. 0.40 (0.32%) to close at Rs. 126.00.