Stock market stays positive for second consecutive day

Thursday, 23 January 2020 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained on the up for the second consecutive day on improved turnover and investor participation. Acuity Stockbrokers said the Bourse ended on a positive note today as the ASPI increased by 0.46% or 27.09 points to close at 5,941.42 points, while the S&P SL20 Index also increased by 0.82% or 23.06 points to close at 2,849.29.

Turnover increased by 170.3% relative to yesterday to amount to Rs. 918.7 million while the crossings for the day amounted to 9.4% of the day’s total turnover. Foreign Investors meanwhile, recorded a net outflow of Rs. 265.2 million over the day compared to a net outflow of Rs. 21.3 million recorded yesterday. NDB Securities said the ASPI closed in green as a result of price gains in counters such as John Keells Holdings, Distilleries and Sri Lanka Telecom. A similar behaviour was witnessed in the S&P SL20.

High net worth and institutional investor participation was noted in Commercial Bank, John Keells Holdings and Lion Brewery. Mixed interest was observed in Sampath Bank and Hatton National Bank whilst retail interest was noted in Access Engineering and Browns Investments. Furthermore, foreigners remained active closing as net sellers. Total foreign sales accounted for 51.5% of the turnover. Banks sector was the top contributor to the market turnover (due to Commercial Bank, Sampath Bank and Hatton National Bank) whilst the sector index gained 0.90%. The share price of Commercial Bank closed flat at Rs. 92.00. The share price of Sampath Bank moved up by Rs. 2.70 (1.71%) to close at Rs. 160.50. The share price of Hatton National Bank recorded a gain of Rs. 2.00 (1.25%) to close at Rs. 161.90.

Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.67%.

The share price of John Keells Holdings gained Rs. 1.40 (0.84%) to close at Rs. 167.30. Lion Brewery was also included amongst the top turnover contributors. The share price of Lion Brewery closed flat at Rs. 600.20.