Christmas cheer as CSE gains on Boxing Day

Friday, 27 December 2019 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened on a positive note post-Christmas holiday with both indices up on improved turnover though there was net foreign outflow.

Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.55% or 33.57 points to close at 6,086.69 points, while the S&P SL20 Index also increased by 0.57% or 16.89 points to close at 2,965.34.

Turnover increased by 218.8% relative to Tuesday to amount to Rs. 421 million while the crossings for the day amounted to 57.2% of the day’s total turnover.

Foreign investors recorded a net outflow of Rs. 41.9 million over the day compared to a net outflow of

Rs. 5.8 million recorded on Tuesday.

NDB Equities said the ASPI closed in green as a result of price gains in counters such as Ceylon Cold Stores, Nestle Lanka and Browns Investments. A similar behaviour was witnessed in the S&P SL20.

Crossings were witnessed in Hatton Plantations, accounting for 57.2% of the turnover.

Mixed interest was observed in Chevron Lubricants and Browns Investments whilst retail interest was noted in First Capital Holdings. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

Plantations sector was the top contributor to the market turnover (due to Hatton Plantations) whilst the sector index gained 0.72%. The share price of Hatton Plantations increased by Rs. 0.50 (6.76%) to close at Rs. 7.90.

Manufacturing sector was the second highest contributor to the market turnover (due to Chevron Lubricants, Tokyo Cement Company nonvoting and Richard Pieris Exports) whilst the sector index increased by 1.12%. The share price of Chevron Lubricants gained Rs. 1.00 (1.35%) closing at Rs. 75.00 whilst foreign holdings decreased by 423,456 shares. The share price of Tokyo Cement Company nonvoting recorded a gain of Rs. 1.10 (2.76%) to close at Rs. 41.00. The share price of Richard Pieris Exports appreciated by Rs. 15.20 (5.53%) to close at Rs. 290.20. Browns Investments was also included amongst the top turnover contributors. The share price of Browns Investments moved up by Rs. 0.20 (4.44%) to close at Rs. 4.70.