Wednesday May 01, 2024
Wednesday May 01, 2024
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The Colombo stock market yesterday ended 2021 at its highest level offering an annual return of 80% and a valuation of just under a record Rs. 5.5 trillion mark.
The All Share Price Index gained by 1.7% or 206 points to close at its highest ever level of 12,226 points. The S&P SL20 improved by 23 points or 0.55%. This performance saw ASPI›s year gain of 80.48% and S&P SL20 by 60.47%.
Market capitalisation was Rs. 5.489 trillion up by 85.4% from end 2020. Turnover yesterday rose to a recent high of Rs. 8.23 billion involving 858 million shares. The year’s average daily turnover was Rs. 4.9 billion.
The only negative feature was a record net foreign outflow of Rs. 52.6 billion in 2021 though yesterday a net buying worth Rs. 4.5 million.
Last debutant for 2021, LOLC General Insurance yesterday saw its share price gain by 159.5% or Rs. 12.60 to close at Rs. 20.50 as opposed to its IPO price of Rs. 7.90. Over 85 million shares of LGIL changed hands via 16.540 trades for Rs. 1.6 billion.
Asia Securities said the market wrapped up 2021 on a high note with the ASPI scaling another record closing high surpassing the 12,200 level while the S&P SL20 index also closed in green on price gains in EXPO, RCL and LOLC.
It said retail and HNI buying in BIL picked up during the session pushing the stock to clock a gain over 10% while the newly listed COOP surged 48.9% on retail momentum trading. Market P/E was 13.63. Overall, 132 stocks ended higher while 90 settled with price losses.
Colombo...
Net foreign buying topped in SFIN at Rs. 13 million and net selling topped in AINS at Rs. 12.5 million.
First Capital said the Bourse closed the year on a significantly positive note while recording 206 points gain for the day with a 2-week high turnover.
“The Index spiked by more than 100 points within the first few minutes of the session supported by the inaugurated trading of LGIL. Eventually, the market managed to hold the grip and traded in the green zone throughout the day while hitting an all-time intraday high of 12,239 before ending the year at 12,226,” First Capital said adding turnover was driven by active retail participation led by a joint contribution of 54% from Insurance sector and Food, Beverage and Tobacco sector.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Browns Investments, LOLC General Insurance Limited and LOLC Holdings.
It said high net worth and institutional investor participation was noted in LOLC General Insurance Limited, LOLC Holdings and Hayleys. Mixed interest was observed in Expolanka Holdings, Lanka IOC and hSenid Business Solutions whilst retail interest was noted in Industrial Asphalts, Browns Investments and Co-Operative Insurance Company Limited.
It said the insurance sector was the top contributor to the market turnover whilst the sector index gained 1.63%. The share price of LOLC General Insurance Limited increased by Rs. 12.60 (159.49%) to close at Rs. 20.50. The share price of Co- Operative Insurance Company Limited recorded a gain of Rs. 2.30 (48.94%) to close at Rs. 7.
Food, Beverage and Tobacco sector was the second highest contributor to the market turnover whilst the sector index increased by 3.23%. The share price of Browns Investments gained Rs. 1.70 (11.64%) to close at Rs. 16.30. Expolanka Holdings and Lanka IOC were also included amongst the top turnover contributors. The share price of Expolanka Holdings moved up by Rs. 4.50 (1.21%) to close at Rs. 375.25. The share price of Lanka IOC appreciated by Rs. 3 (4.27%) to close at Rs. 73.20.
