Colombo Bourse remains positive

Wednesday, 4 March 2020 00:01 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained on the up for the second consecutive day on improved turnover in comparison to Monday.

Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.07% or 4.12 points while the S&P SL20 Index also increased by 0.37% or 9.78 points.

Turnover increased by 26.1% relative to Monday to amount to Rs. 323 million while the crossings for the day accounted for 26% of the day’s total turnover.

Meanwhile, foreign investors recorded a net outflow of Rs. 86.9 million over the day compared to a net outflow of Rs. 15.9 million on Monday.

NDB Securities said the ASPI edged up as a result of price gains in counters such as John Keells Holdings, Hatton National Bank and Melstacorp.

High net worth and institutional investor participation was noted in Vidullanka, Teejay Lanka and Hemas Holdings. Mixed interest was observed in John Keells Holdings and Commercial Bank while retail interest was noted in Browns Investments.

Total foreign sales accounted for 42.8% of the turnover.

The Utilities sector was the top contributor to market turnover (due to Vidullanka) while the sector index edged up by 0.10%. The share price of Vidullanka closed flat at Rs. 4.40.

The Capital Goods sector was the second highest contributor to market turnover (due to John Keells Holdings and Hemas Holdings) while the sector index increased by 0.56%. The share price of John Keells Holdings gained Rs. 1.80 (1.21%) to close at Rs. 150. The share price of Hemas Holdings recorded a loss of Rs. 0.80 (1.16%) to close at Rs. 68.

Teejay Lanka and Commercial Bank were also included amongst the top turnover contributors. The share price of Teejay Lanka moved down by Rs. 2 (5.41%) to close at Rs. 35. The share price of Commercial Bank declined by Rs. 0.20 (0.23%) to close at Rs. 85.80.