Stock market’s merry times continue post-Christmas

Friday, 27 December 2024 00:06 - - {{hitsCtrl.values.hits}}

Active S&P SL20 completes 50% year to date return
Benchmark ASPI up for 22nd consecutive market day

The bull run at the Colombo stock market yesterday continued post Wednesday’s Christmas holiday with high gains and turnover.

The benchmark ASPI gained by 1.5% or 232 points marking 22nd consecutive increase whilst the active S&P SL20 rose by 1.48%. Turnover was Rs. 7 billion involving 534.4 million shares.

First Capital said the bourse experienced another day of positive sentiment and increased gains, closing in the green for the 22nd consecutive day. Turnover was boosted by Waskaduwa Beach Resort (Rs. 412 million), LOLC Holdings (Rs. 378.7 million), Browns Investments (Rs. 358 million), Sunshine Holdings (Rs. 295.4 million), and Sampath Bank (Rs. 274 million).

The weekly T-Bill auction reported an interest rate decline across the board, which sparked increased activity in the stock market. As a result, there was a notable rise in participation from retail investors.

The most significant contributors towards the positive index were LOLC, HNB, SUN, SAMP, and SPEN. The Diversified Financial sector experienced a notable increase, making a significant contribution to both turnover and overall returns.

Amidst multiple off-board transactions, turnover marked an increase of 39.8%, from the monthly average. The Capital Goods sector led the turnover by 20%, followed by the Food, Beverage and Tobacco and Banking sectors jointly contributing 31% of the overall turnover. There was a net foreign inflow of Rs. 20.8 million.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as LOLC Holdings, Hatton National Bank and Sunshine Holdings.

High net worth and institutional investor participation was noted in Sampath Bank, Renuka Holdings and Ceylon Cold Stores. Mixed interest was observed in Waskaduwa Beach Resort, LOLC Holdings and Browns Investments whilst retail interest was noted in SMB Leasing and Hikkaduwa Beach Resort.

The Capital Goods sector was the top contributor to the market turnover whilst the sector index gained 0.43%. Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments and Sunshine Holdings) whilst the sector index increased by 1.52%. The share price of Browns Investments moved up 30 cents to Rs. 7.10. The share price of Sunshine Holdings recorded a gain of Rs. 9.50 to Rs. 94.50.

Waskaduwa Beach Resort, LOLC Holdings and Sampath Bank were also included amongst the top turnover contributors. The share price of Waskaduwa Beach Resort increased by 10 cents to Rs. 2.20.

The share price of LOLC Holdings gained Rs. 56.75 to Rs. 667.00. The share price of Sampath Bank appreciated by Rs. 1.75 to Rs. 112.75.

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