Saturday Dec 14, 2024
Saturday Dec 14, 2024
Wednesday, 24 June 2020 00:15 - - {{hitsCtrl.values.hits}}
The Colombo stock market continued to sustain the positive momentum for the sixth consecutive day amidst healthy turnover.
Acuity Stockbrokers said the bourse ended on a positive note as the ASPI increased by 0.72% or 36.57 points to close at 5,083.07 points, while the S&P SL20 Index also increased by 1.63% or 36.22 points to close at 2,257.57.
Turnover increased by 32.4% relative to Monday to amount to Rs. 1.6 billion while crossings for the day amounted to 10.0% of the day’s total turnover.
Foreign investors meanwhile, recorded a net outflow of Rs. 0.31 billion over the day compared to a net outflow of Rs. 0.20 billion recorded on Monday.
First Capital said the bourse ended in the positive territory for the sixth consecutive session with Banking and Capital goods counters contributing 71% of the turnover.
“The market spiked within the first 20 minutes of trading and reached its intraday high of 5,095, thereafter experienced a downward movement till mid-day. Later market witnessed a continuous uptrend and closed at 5,083 gaining 37 points,” First Capital said.
It said ASPI was uplifted predominantly due to the price advances in LION and DIAL and parcel trades made in HHL, BRWN and COMB contributed to 10% of the turnover. Foreign investors continued to be net sellers while recording low participation, it added.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Lion Brewery, Dialog Axiata and Melstacorp. Similar behaviour was also witnessed in the S&P SL20.
High net worth and institutional investor participation was noted in Hatton National Bank, Commercial Bank and Hemas Holdings. Mixed interest was observed in Royal Ceramics, Hatton National Bank non-voting and John Keells Holdings, whilst retail interest was noted in LOLC Holdings.
NDB Securities said the banking sector was the top contributor to the market turnover (due to Commercial Bank and Hatton National Bank voting and non-voting) whilst the sector index gained 1.51%.
The share price of Hatton National Bank voting increased by Rs 2.30 (2.05%) to close at Rs. 114.7 while the share price Hatton National Bank non-voting recorded a gain of Rs. 2.90 (3.36%) to close at Rs. 89.20. Furthermore, the share price of Commercial Bank gained Rs. 1.80 (2.43%) to close at Rs. 75.90.
Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings and Royal Ceramics) whilst the sector index increased by 0.38%. The share price of Hemas Holdings moved down by Rs. 1.20 (1.96%) to close at Rs. 60.00. The share price of Royal Ceramics appreciated by Rs. 4.30 (6.60%) to close at Rs. 69.50.
