Stock market completes upbeat week

The Colombo stock market completed an upbeat week with both indices posting welcome gain amidst improved investor sentiment. 

The benchmark ASPI gained 136.54 points (1.31%) and the active S&P SL20 gained 83.74 points (2.85%).

On Friday, the S&PSL20 gained by 0.4% and the ASPI by 0.1%. Turnover was Rs. 792 million involving 22 million shares.

Asia Securities said the indices stayed in green on Friday on the back of price gains in JKH (+1.0%), SAMP (+1.3%), LLUB (+2.5%), HHL (+4.1%), KHL (+1.6%), and CCS (+2.6%). However, CALT (-1.0%), LFIN (-1.3%), RCL (-1.0%), CFIN (-3.4%), CFVF (-1.6%), PACK (-1.6%), and BIL (-2.3%) closed in red. The breadth of the market was slightly positive with 79 price gainers and 76 decliners.

Turnover was led by JKH (Rs. 183 million), EXPO (Rs. 70 million), LLUB (Rs. 59 million) and SAMP (Rs. 45 million).

Foreigners recorded a net outflow of Rs. 45.6 million. Net foreign buying topped in LLUB at Rs. 19.4 million and selling topped in EXPO at Rs. 42.2 million.

First Capital said the bourse ended in the green zone once again, recording 8 straight days of gains. ASPI, saw a fall in the index till post midday as investors booked profits notably on primary dealer counters, who saw an increase in their share prices over the last few sessions, but picked up towards the end of the session with ASPI ending at 10,567. SAMP, HHL and JKH were the largest positive contributors to the index whereas CFIN, MELS and BIL were the largest negative contributors. 

NDB Securities said high net worth and institutional investor participation was noted in Expolanka Holdings, John Keells Holdings and Sampath Bank. Mixed interest was observed in Chevron Lubricants, Capital Alliance and Hatton National Bank whilst retail interest was noted in LOLC Finance, Browns Investments and Lanka Milk Foods. 

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.72%. The share price of John Keells Holdings increased by Rs. 1.75 to Rs. 185.75.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index increased by 0.41%. The share price of Sampath Bank recorded a gain of 90 cents to Rs. 72.90.

Expolanka Holdings, Chevron Lubricants and Capital Alliance were also included amongst the top turnover contributors. The share price of Expolanka Holdings closed flat at Rs. 130. The share price of Chevron Lubricants moved up by Rs. 2.40 to Rs. 98.40. The share price of Capital Alliance declined by 50 cents to Rs. 51.90.

Separately Windforce announced its interim dividend of one rupee per share.