Bullish sentiment gathers momentum at Bourse

Friday, 7 January 2011 01:17 - - {{hitsCtrl.values.hits}}

Bullish sentiment in the Colombo Bourse gathered more momentum as the market yesterday further cemented gains originating from the first day of trading in the New Year.

The benchmark ASPI gained by 0.8%, the second consecutive day of such gain whilst turnover reached Rs. 4.2 billion, highest for several weeks. Volume of turnover remained in the high 300 million with active domestic play.

“Institutional interest was witnessed today amidst foreign activity.

Accumulation of favourite retail stocks continued to be the highlight of the market, keeping the indices in the green,” NDB Stockbrokers said.

Yesterday’s gain pushed the year to date growth of the ASPI to 2.62%.

Diversified and Manufacturing sectors were the highest contributors to the market turnover while both indices increased by 1.51% and 1.40% respectively.

Premier conglomerate John Keells Holdings made the highest contribution (Rs. 750.2 million) to the market turnover with three crossings of 2,373,000 shares at Rs. 295 although the share price decreased by Rs. 0.20 (0.07%) and closed at Rs. 299.60.

Richard Pieris saw a total of 22.5 million traded for Rs. 289 million including 2.5 million via a crossing at Rs. 13. The market also saw a crossing of 2 million shares of Janashakthi Insurance at Rs. 17, and 3.58 million shares of Dialog Axiata at 12 and 1 million shares of Hotel Services at Rs. 27.

Meanwhile the Rupee depreciated slightly as the exchange rate was recorded at Rs. 110.84 – 110.87 per US $.