Stock market gains

Friday, 20 September 2019 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market bounced back yesterday after two negative sessions though politics will continue swing investor sentiments.

Acuity Stockbrokers said the ASPI increased by 0.06% or 3.53 points while the S&P SL20 Index also increased by 0.32% or 8.90 points.

NDB Equities said the ASPI edged up as a result of price gains in counters such as Asian Hotels and Properties, Central Finance Company and Sampath Bank.

Turnover was Rs. 463 million, down by 34.6% from Wednesday.

NDB said high net worth and institutional investor participation was noted in Hatton National Bank, Sampath Bank and the Lanka Hospitals Corporation.

“Mixed interest was observed in Union Bank and Access Engineering whilst retail interest was noted in Browns Investments and Panasian Power,” it added.

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

Banks, Finance and Insurance sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank, Union Bank, Sampath Bank and Citizens Development Business Finance) whilst the sector index gained 0.19%. The share price of Hatton National Bank increased by Rs. 1.90 (1.24%) to close at Rs. 154.90. The share price of Commercial Bank lost Rs. 1.90 (1.86%) closing at Rs. 100.00 whilst foreign holdings decreased by 350,781 shares.

The share price of Union Bank moved up by Rs. 0.30 (2.22%) to close at Rs. 13.80. The share price of Sampath Bank recorded a gain of Rs. 2.50 (1.60%) to close at Rs. 158.70. The share price of Citizens Development Business Finance appreciated by Rs. 5.90 (6.21%) to close at Rs. 100.90.

Diversified sector was the second highest contributor to the market turnover whilst the sector index edged down by 0.05%.