ASPI manages gain amidst waning turnover

Thursday, 13 January 2022 02:57 -     - {{hitsCtrl.values.hits}}

Colombo stock market managed to push its benchmark index positive though the more active S&PSL20 declined amidst waning turnover.

The All Share Price Index closed up by 43 points, or 0.33%, and the S&PSL20 shed over 21 points, or 0.5%. Turnover was Rs. 7.7 billion involving 317.3 million shares.

Asia Securities said following two sessions of losses, the ASPI returned to positive territory while the S&P SL20 index edged lower due to price declines in heavyweights LOLC, EXPO, LOFC and CLC.

Recording another session of large crossings, LOFC executed 50 block trades during the day amounting to a turnover of Rs. 1.5 billion. The breadth of the market turned positive with 118 gainers and 107 decliners.

Asia also said foreigners recorded a net outflow of Rs. 117.8 million while their participation increased to 2.1% of turnover (previous day 1.4%). Net foreign buying topped in SHL at Rs. 23.8 million and net selling topped in DIAL at Rs. 71.8 million.

First Capital said the ASPI bounced back to the green territory after two consecutive days of negative closing as investors regained their confidence with a positive update on improvement in foreign inflows and reserves of the country.

“The index spiked to an intraday high of 13,226 within the first few minutes of trading. However, the market displayed considerable volatility, with the index eventually falling to an intraday low of 13,063 during mid-day. Yet, the market bounced back towards the latter part of the session and closed for the day at 13,123,” First Capital said, adding turnover was led by a joint contribution of 67% from the Diversified Financials sector, Food, Beverage & Tobacco sector and the Capital Goods sector.

NDB Securities said high net worth and institutional investor participation was noted in Lanka Orix Finance, Richard Pieris & Company and Dialog Axiata.

Mixed interest was observed in Expolanka Holdings, Softlogic Life Insurance and Access Engineering whilst retail interest was noted in SMB Leasing non-voting, Browns Investments and Softlogic Capital. The Diversified Financials sector was the top contributor to the market turnover whilst the sector index lost 1.71%. The share price of Lanka Orix Finance increased by Rs. 1.40 (4.98%) to close at Rs. 29.50. The share price of Softlogic Capital recorded a gain of Rs. 4.30 (6.70%) to close at Rs. 68.50.

The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover whilst the sector index increased by 0.44%. The share price of Browns Investments lost Rs. 5.50 (1.42%) to close at Rs. 381.75. Expolanka Holdings and Softlogic Life Insurance were also included amongst the top turnover contributors. The share price of Expolanka Holdings moved down by 20 cents to close at Rs. 17.20. The share price of Softlogic Life Insurance appreciated by Rs. 2.90 (3.32%) to close at Rs. 90.20.

Separately, Printcare announced an interim dividend of Rs. 4 per share.


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