CSE buoyant with turnover hitting over six month high

The Colombo stock market remained buoyant with both indices up and turnover hitting an over six month high, continuing the newfound optimism.

Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.95% or 51.69 points to close at 5,490.60 points, while the S&P SL20 Index also increased by 1.00% or 23.53 points to close at 2,382.77.

Turnover increased by 39.3% relative to last Friday to amount to Rs. 2.29 billion while the crossings amounted to 5.1% the day’s total turnover.  Foreign investors meanwhile, recorded a net outflow of Rs. 70.2 million over Friday outflow of Rs. 

191.1 million.

First Capital said the Bourse witnessed a 6 1/2 month high turnover amidst the Super September ride, giving the week a green start. 

“Capital Goods counters continued to lead the turnover closely followed by the Food & Beverage counters making a joint contribution of 47%,” First Capital added. 

It said additionally the parcel trades in CCS, HNB and SAMP amounted to 7% of turnover. Index recorded an uptrend since the beginning of the session and closed at 5,491 with an advance of 52 points. Foreign investors continued to be net sellers while recording low participation. 

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Melstacorp, Hemas Holdings and Dialog Axiata.

High net worth and institutional investor participation was noted in Ceylon Cold Stores, Hatton National Bank and Sampath Bank. Mixed interest was observed in Hemas Holdings, Expolanka Holdings and Melstacorp whilst retail interest was noted in Hayleys Fabric and Access Engineering. 

Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings) whilst the sector index gained 1.34%. The share price of Hemas Holdings increased by Rs. 4.80 (7.96%) to close at Rs. 65.10.

Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Melstacorp) whilst the sector index increased by 0.70%. The share price of Melstacorp recorded a gain of Rs. 2.50 (8.47%) to close at Rs. 32.00.

Sampath Bank, Expolanka Holdings and Hayleys Fabric were also included amongst the top turnover contributors. The share price of Sampath Bank gained Rs. 2.40 (1.94%) to close at Rs. 126.40. Furthermore, the share price of Expolanka Holdings moved up by Rs. 0.70 (10.14%) to close at Rs. 7.60, while the share price of Hayleys Fabric appreciated by Rs. 0.70 (4.17%) to close at Rs. 17.50.