ASPI crosses 9,800 points to close at a new high
CSE sees net foreign inflow of Rs. 41 m
ASPI and S&P SL20 up YTD by 45.87% and 35.43% respectively
Expolanka crosses Rs. 200 mark again
Fuelled by improved investor sentiment and activity, the Colombo stock market yesterday raised the bar yet again to new highs whilst enjoying net foreign buying.
The All Share Price Index shot up by 1.8% or 172 points to close at 9,881 points while the S&P SL20 was up 0.5% or 19 points. Turnover improved to Rs. 4.2 billion involving 154.4 million shares.
Year-to-date (YTD) ASPI is up 45.87% and S&P SL20 is up 35.43%. Market capitalisation is up 48.73% to Rs. 4.4 trillion.
Asia Securities said the ASPI witnessed another milestone, closing well above 9,800 points for the first time.
“Following a 74-point gap up, the index surpassed the 9,900 level by mid-session before stabilising in later hours to close marginally lower at 9,881.50. These gains were mainly supported by heavyweight CLC, which contributed 100 points to the index and closed the session with an 18.7% gain,” Asia added. It said the more liquid S&P SL20 index also closed higher.
“Despite this positive momentum, market breadth remained negative with 82 counters gaining and 104 counters closing lower. Following several sessions of moderate activity, turnover picked up to an eight-session high supported by heavyweights and notable buying in counters such as RCL, ACL and GLAS ahead of the upcoming earnings season,” Asia said.
It also said foreigners recorded a net inflow of Rs. 41 million while their participation declined to 1.5% of turnover (previous day 4.7%). Net foreign buying topped in COMB.N at Rs. 26.4 million while net foreign selling topped in JKH at Rs. 14.4 million.
First Capital said the bourse marked its territory in the green zone for the fourth consecutive session, hitting a fresh all time high of 9,882 with an intraday gain at a three-and-half week high.
“Within the initial half hour into the market opening, the index soared high steadily until mid-session, reaching an intraday high of 9,923. Subsequently, the index moved on a downward trajectory but picked up pace towards the latter part of the session as investors persisted in their bull run and closed for the day at 9,882,” First Capital added.
It said turnover was led by a joint contribution of 51% from the Diversified Financials and Capital Goods sectors.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Commercial Leasing and Finance, LOLC Holdings and Expolanka Holdings.
It said high net worth and institutional investor participation was noted in JAT Holdings and BPPL Holdings. Mixed interest was observed in Expolanka Holdings, LOLC Holdings and Commercial Leasing and Finance, whilst retail interest was noted in Browns Investments, Lanka Orix Finance and Kotagala Plantations.
The Diversified Financials sector was the top contributor to the market turnover (due to LOLC Holdings and Commercial Leasing and Finance), whilst the sector index gained 7.16%. The share price of Commercial Leasing moved up by Rs. 7 (18.72%) to close at Rs. 44.
Expolanka Holdings, Browns Investments and B.P.P.L. Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings increased by Rs. 4.25 (2.15%) to close at Rs. 201.50. The share price of Browns Investments recorded a gain of 20 cents (1.92%) to close at Rs. 10.60. The share price of B.P.P.L Holdings appreciated by 60 cents (2.53%) to close at Rs. 24.30.
(FT)