Friday Dec 13, 2024
Friday Dec 13, 2024
Thursday, 23 September 2021 02:37 - - {{hitsCtrl.values.hits}}
The Colombo stock market produced a welcome recovery in terms of sentiments yesterday though trading level was below recent average.
The All Share Price Index gained by 0.2% or over 17 points and the S&P SL20 improved by 0.5% or over 16 points. Turnover was only Rs. 2.5 billion involving just 88.7 million shares. On Tuesday, market dipped with Rs. 1.7 billion turnover on 106.6 million shares.
First Capital said the bourse managed to reverse losses of the previous sessions as the index rebounded positively while recording a shallow turnover.
“The market opened on an uptrend and remained on the rise. Subsequently, the index soared to an intraday high of 8,837 as a buying spree emerged, and thereafter, a sideways movement was exhibited followed by a downward trajectory. Market displayed a recovery before closing at 8,788,” First Capital added.
It said turnover was generated by a joint contribution of 51% from the Capital Goods and Transportation sectors.
Asia Securities said following three sessions of losses, market returned to positive territory as the indices managed to end higher, despite witnessing a gradual decline in the second half of the session.
“The ASPI initially reached an intra-day high of 8,884 (+114 points) after overcoming bouts of volatility during early hours with the support of price gains in EXPO. However, the index declined gradually during afternoon trading and narrowed its early gains as investors remained risk-averse throughout the session,” Asia added.
It said turnover improved, led by JKH, which saw notable foreign activity during the session. The market breadth turned positive as 97 stocks ended higher while 88 stocks settled with losses.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Expolanka Holdings, Ceylon Tobacco Company and John Keells Holdings.
It said high net worth and institutional investor participation was noted in John Keells Holdings, Sampath Bank and Renuka Hotels. Mixed interest was observed in Expolanka Holdings, Hayleys and LOLC Holdings, whilst retail interest was noted in Browns Investments, Citrus Leisure and Industrial Asphalts. Furthermore, foreigners closed as net sellers mainly due to foreign selling in Ceylinco Insurance non-voting.
The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Hayleys), whilst the sector index gained 0.64%. The share price of John Keells Holdings increased by one rupee (0.77%) closing at Rs. 131.50. The share price of Hayleys edged down by 10 cents (0.10%) to close at Rs. 97.40.
The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), whilst the sector index increased by 2%. The share price of Expolanka Holdings gained Rs. 3.25 (1.99%) to close at Rs. 166.75.
Browns Investments and Sampath Bank were also included amongst the top turnover contributors. The share price of Browns Investments moved down by 10 cents (1.10%) to close at Rs. 9. The share price of Sampath Bank closed flat at Rs. 51.80.
