CSE sustains new-found optimism

Wednesday, 30 April 2025 00:12 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday sustained its new-found bullish sentiments with both indices up amidst improved turnover.

The benchmark ASPI gained by over 55 points or 0.35% and the active S&P SL20 by 0.4%. Turnover was Rs. 2 billion involving 109.5 million shares.

First Capital said the Bourse marched onwards maintaining steady strides in the green for the fourth consecutive trading session. The ASPI wrapped up with a gain of 56 points, closing at 15,867. JKH, CTC, SPEN, COMB and HNB stood out as the top positive contributors to the index. Strong investor interest persisted, driven by sustained activity across both HNW and retail investors. Positive sentiment was observed in Food, Beverage, and Tobacco counters ahead of the earnings season, alongside improved interest in select Hotel sector counters, supported by rising tourist arrivals. In contrast, the Banking sector experienced subdued sentiment during the session. The turnover was an 18.1% decrease compared to the monthly average. The Food, Beverage, and Tobacco sector led today’s turnover with a 19% share, followed by the Diversified Financials and Materials sectors jointly accounting for 30%. Foreign investors turned net buyers, with a net inflow of Rs. 25.5 million.

ND Securities said high net worth and institutional investor participation was noted in CIC Holdings, HNB Finance and Sampath Bank. Mixed interest was observed in Browns Investments, Hela Apparel Holdings and Distilleries whilst retail interest was noted in Nation Lanka Finance, Waskaduwa Beach Resort and Softlogic Capital.

The Food, Beverage, and Tobacco sector was the top contributor to the market turnover (due to Browns Investments and Distilleries) whilst the sector index gained 0.16%. The share price of Browns Investments lost Rs. 0.10 (1.27%) to close at Rs. 7.80. The share price of Distilleries appreciated by Rs. 1.10 to Rs. 38.10.

The Materials sector was the second highest contributor to the market turnover (due to CIC Holdings) whilst the sector index increased by 1.04%. The share price of CIC Holdings recorded a gain of Rs. 2.50 to Rs. 118.

Sampath Bank and Hela Apparel Holdings were also included amongst the top turnover contributors. The share price of Sampath Bank decreased by 50 cents to Rs. 110. The share price of Hela Apparel Holdings moved up by 50 cents to Rs. 3.90.

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