Colombo Bourse stays on the up, marks Rs. 1 b plus turnover for 14th consecutive day

Friday, 26 June 2020 00:00 -     - {{hitsCtrl.values.hits}}

The Colombo stock market remained on the up with turnover crossing the one billion rupee mark for the 14th consecutive day as investors remained positive.

The All Share Price Index gained by over 33 points or 0.6% and the S&P SL20 Index by 12 points of 0.5%. Turnover was Rs. 1.09 billion, a feature secured for 14 consecutive days according to NDB Securities.

First Capital said the Bourse ended in the green territory with the market being dominated continuously by foreign sales for almost 3 weeks. 

“Index experienced a slight dip within the first few minutes of trading and thereafter spiked and recorded a volatile sideways movement during mid-day. Within the last 30 minutes of trading, market experienced an uptrend and closed at 5,146 gaining 34 points,” First Capital said. 

“ASPI was uplifted predominantly due to the price advances in LION and JKH.  40% of turnover was dominated by the Banking counters led by COMB, HNB & SAMP,” it added.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Lion Brewery, John Keells Holdings and Carson Cumberbatch. A similar behaviour was witnessed in the S&P SL20.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Bank and Hatton National Bank. 

Mixed interest was observed in Sampath Bank, Dialog Axiata and John Keells Holdings whilst retail interest was noted in Tokyo Cement Company and First Capital Holdings. 

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Hatton National Bank and Sampath Bank) whilst the sector index gained 0.37%. The share price of Commercial Bank increased by Rs. 0.90 (1.18%) to close at Rs. 76.90 while the share price of Hatton National Bank edged up by Rs. 0.10 (0.09%) to close at Rs. 115.40. Furthermore, the share price of Sampath Bank moved down by Rs. 0.70 (0.55%) to close at Rs. 126.40.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.81%.

The share price of John Keells Holdings appreciated by Rs. 1.60 (1.25%) to close at Rs. 130.00.

Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata closed flat at Rs. 12.00.