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The Colombo stock market yesterday sustained its positive run for the ninth consecutive day despite facing volatility amidst moderate turnover.
The benchmark ASPI gained by nearly 34 points or 0.17% whilst the active S&P SL20 declined marginally. Turnover was Rs. 5.28 billion involving 181 million shares.
First Capital said the market experienced significant volatility amidst reasonably high investor activity which resulted in yet another session wrapping up in positive territory. The index surged at the open and peaked by late morning, after which selling pressure resulted in a continuous decline before staging a minor comeback that lifted it higher toward the session’s close. Key contributors to the index’s gain included MELS, SEYB, CTC, ACL, and SAMP. Both retail and HNW investors remained active as optimism from previous sessions lingered. Turnover was 27% below the monthly average. The Capital Goods sector dominated turnover, contributing 28%, followed by the Banking and Diversified Financials sectors, which collectively accounted for 32%. Foreign investors remained net sellers with a net outflow of Rs. 36.2 million.
NDB Securities said high net worth and institutional investor participation was noted in Hatton National Bank, Hatton National Bank nonvoting and The Lighthouse Hotel. Mixed interest was observed in John Keells Holdings, ACL Cables and Softlogic Finance whilst retail interest was noted in Agarapatana Plantations, BPPL Holdings and Citrus Leisure.
The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings, Access Engineering and ACL Cables) whilst the sector index lost 0.64%. The share price of John Keells Holdings decreased by 30 cents to Rs. 24.10. The share price of Access Engineering recorded a loss of 30 cents to Rs. 60.20. The share price of ACL Cables appreciated by Rs. 6.50 to Rs. 184.25.
The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank nonvoting and Hatton National Bank) whilst the sector index increased by 0.38%. The share price of Hatton National Bank nonvoting lost by one Rupee to Rs. 293. The share price of Hatton National Bank edged up by 25 cents to Rs. 361.75.
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