Stock market remains positive despite low investor activity

The Colombo stock market yesterday continued with its positive stance despite low turnover and investor participation. 

The All Share Price Index gained by over 44 points or 0.6% and the S&PSL20 improved by 25 points or 0.87%. Turnover was Rs. 1.08 billion with only 51.3 million shares traded.   

First Capital said the Bourse sustained its positive drive for a second successive day, extending gains generated from the previous session while recording a three-week low turnover. 

“Index witnessed a steady rise during the early hours of trading followed by a short-lived pullback and recovery during mid-day and subsequently a sideways movement closing at 7,278 gaining 45 points,” First Capital added. 

It said turnover was led by the Capital Goods sector followed by the Banking sector, accounting for a joint contribution of 50%. 

Asia Securities said the indices trended upwards throughout the session and closed in green for the second-consecutive session, led by price gains in index-heavy counters such as LOLC, EXPO and SAMP. Overall, 108 counters witnessed price gains while 50 counters witnessed price declines. 

The Capital Goods, Banks, Materials and Food, Beverage and Tobacco sectors led activity, collectively accounting for 74.5% of turnover. 

Asia said foreigners recorded a net outflow of Rs. 55 million while their participation increased to 13.4% of turnover (previous day 6.1%). Estimated net foreign buying topped in COMB.N at Rs. 29.6 million and net foreign selling topped in JKH at Rs. 76.2 million.

NDB Securities said indices closed in green as a result of price gains in counters such as LOLC Holdings, Expolanka Holdings and Sampath Bank.

It said high net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in Dipped Products, Royal Ceramics and Sampath Bank, whilst retail interest was noted in SMB Leasing, Vidullanka Rights and Browns Investments. 

Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index lost 0.36%. The share price of John Keells Holdings decreased by Rs. 2.25 (1.64%) closing at Rs. 135.25 whilst foreign holdings decreased by 563,169 shares.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank), whilst the sector index increased by 1.81%. The share price of Sampath Bank moved up by Rs. 1.60 (3.04%) to close at Rs. 54.30.

Browns Investments, LOLC Holdings and Expolanka Holdings were also included amongst the top turnover contributors. The share price of Browns Investments lost Rs. 0.10 (1.56%) to close at Rs. 6.30. The share price of LOLC Holdings recorded a gain of Rs. 6.50 (2%) to close at Rs. 331.50. The share price of Expolanka Holdings appreciated by Rs. 1.50 (3.38%) to close at Rs. 45.90.

Separately Central Finance Company announced a final dividend of Rs. 3.50 consisting of Rs. 2.30 per share by way of a cash dividend and Rs. 1.20 per share in the form of a scrip dividend.

NDB Securities said indices closed in green as a result of price gains in counters such as LOLC Holdings, Expolanka Holdings and Sampath Bank.

It said high net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in Dipped Products, Royal Ceramics and Sampath Bank, whilst retail interest was noted in SMB Leasing, Vidullanka Rights and Browns Investments. 

Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), whilst the sector index lost 0.36%. The share price of John Keells Holdings decreased by Rs. 2.25 (1.64%) closing at Rs. 135.25 whilst foreign holdings decreased by 563,169 shares.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank), whilst the sector index increased by 1.81%. The share price of Sampath Bank moved up by Rs. 1.60 (3.04%) to close at Rs. 54.30.

Browns Investments, LOLC Holdings and Expolanka Holdings were also included amongst the top turnover contributors. The share price of Browns Investments lost Rs. 0.10 (1.56%) to close at Rs. 6.30. The share price of LOLC Holdings recorded a gain of Rs. 6.50 (2.00%) to close at Rs. 331.50. The share price of Expolanka Holdings appreciated by Rs. 1.50 (3.38%) to close at Rs. 45.90.

Separately Central Finance Company announced a final dividend of Rs. 3.50 consisting of Rs. 2.30 per share by way of a cash dividend and Rs. 1.20 per share in the form of a scrip dividend.