Colombo Bourse sustains gains

Thursday, 20 February 2020 00:35 - - {{hitsCtrl.values.hits}}

The Colombo stock market sustained its gains for the second consecutive day though on low turnover and net foreign outflow.

Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.29% or 16.82 points while the S&P SL20 Index also increased by 0.84% points.

Turnover declined by 56.4% relative to Tuesday to amount to Rs. 190 million with the turnover of HNB and SAMP accounting for 36.6% of the total.

Foreign Investors meanwhile, recorded a net outflow of Rs. 34.4 million over the day compared to a net inflow of Rs. 40.5 million on Tuesday.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Commercial Bank, Sri Lanka Telecom and John Keells Holdings.

High net worth and institutional investor participation was noted in Hatton National Bank. Mixed interest was observed in Sampath Bank and Access Engineering whilst retail interest was noted in Tokyo Cement Company voting. Furthermore, foreigners closed as netsellers.

Banks sector was the top contributor to the market turnover (due to Hatton National Bank, Sampath Bank and Seylan Bank ) whilst the sector index gained 1.57%. The share price of Hatton National Bank increased by Rs 0.40 (0.26%) to close at Rs 157.00. The share price of Sampath Bank gained Rs 0.80 (0.48%) to close at Rs 167.80. The share price of Seylan Bank appreciated by Rs 1.00 (2.13%) to close at Rs 48.00.

Capital Goods sector was the second highest contributor to the market turnover (due to Access Engineering) whilst the sector index increased by 0.14%. The share price of Access Engineering moved up by Rs 0.50 (2.43%) to close at Rs 21.10.

Browns Investments was also included amongst the top turnover contributors. The share price of Browns Investments recorded a gain of Rs 0.10 (2.04%) to close at Rs 5.00.

DFCC Bank, Overseas Realty and National Development Bank announced their first and final dividends

of Rs 2.50, Rs 1.25 and Rs 2.00 per share respectively.