Bull run at CSE continues at near 65-month high

• Nets Rs. 8.5 b turnover, marks sixth consecutive day of over Rs. 6 b turnover
• Share prices of Hayleys, Expolanka and Cargills reach new highs

The Colombo stock market’s bull run continued as both indices gained on top of above average Rs. 8.5 billion turnover. 

The All Share Price Index gained by over 78 points or 1% and the S&PSL20 Index was up over 11 points or 0.4%.

First Capital said the Bourse experienced an incline reaching a 65-month high on the 11th consecutive day of upsurge while recording a Rs. 8 billion plus turnover. 

“Index witnessed continuous uptrend since the beginning of the session and reached its intraday high of 7,313 before closing at 7,282 gaining 79 points,” it added. 

First Capital said Food and Beverage sector continued to lead the turnover for the session with a contribution of 36%. Moreover parcel trades amounted to 8% of the turnover. 

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Commercial Leasing & Finance, Expolanka Holdings and Cargills. It said it was the sixth consecutive day of over Rs. 6 billion turnover at the CSE.

High net worth and institutional investor participation was noted in Cargills Ceylon, Dipped Products and National Development Bank. Mixed interest was observed in Hayleys, LOLC Holdings and CIC Holdings, whilst retail interest was noted in Browns Investments, Expolanka Holdings and CIC Holdings non-voting. 

Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Browns Investments), whilst the sector index edged up by 0.08%. The share price of Browns Investments increased by Rs. 0.30 (4.17%) to close at Rs. 7.50.

Capital Goods sector was the second highest contributor to the market turnover (due to Hayleys), whilst the sector index decreased by 0.25%. The share price of Hayleys moved up by Rs. 26.75 (6.28%) to close at Rs. 452.50.

Expolanka Holdings, Dipped Products and Cargills were also included amongst the top turnover contributors. The share price of Expolanka Holdings gained Rs. 2.70 (6.99%) to close at Rs. 41.30. Furthermore, the share price of Dipped Products recorded a gain of Rs. 20.50 (5.94%) to close at Rs. 365.75, whilst the share price of Cargills appreciated by Rs. 17.25 (8.20%) to close at Rs. 227.50.

Market also saw net foreign selling of Rs. 58.7 million, lower in comparison to Rs. 183 million on Monday. Year to date net foreign selling stood at Rs. 1.2 billion.