The recovery at the Colombo stock market continued for the second consecutive day with indices on the up on improved turnover.
The All Share Price Index gained by 0.6% and the S&P SL20 by 0.2%. Turnover was Rs. 1.24 billion, higher in comparison to Rs. 0.9 billion on Wednesday.
First Capital said the bourse continued to lodge in the green region for the second consecutive day with ASPI surging in the first hour of trading to hit intra-day high of 7,231.
“The index then followed a gradual downtrend to close at 7,188, gaining 42 points,” it added, adding the Food, Beverage and Tobacco sector led the turnover for the session closely followed by the Capital Goods sector making a joint contribution of 57%.
Asia Securities said the ASPI picked up initially to a high of 7,229 (+83 points) but trended downwards and stabilised at lower levels. Market activity picked up from the previous session led by activity in BIL which accounted for 27.0% of turnover.
Foreigners recorded a net outflow of Rs. 54.7 million with net foreign buying most at HNB.N at Rs. 12.6 million and net foreign selling highest at JKH at Rs. 47.3 million.
NDB Securities said the ASPI closed in green as a result of price gains in counters such as Browns Investments, Distilleries and Lanka Orix Finance.
It said high net worth and institutional investor participation was noted in Sampath Bank. Mixed interest was observed in Hayleys, Dipped Products and John Keells Holdings, whilst retail interest was noted in Royal Ceramics, SMB Leasing and Browns Investments.
The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Browns Investments), whilst the sector index gained 1.18%. The share price of Browns Investments increased by Rs. 0.20 (3.08%) to close at Rs. 6.70.
The Capital Goods sector was the second highest contributor to the market turnover (due to Royal Ceramics and John Keells Holdings), whilst the sector index increased by 0.16%. The share price of Royal Ceramics gained Rs. 0.20 (0.58%) to close at Rs. 34.50. The share price of John Keells Holdings moved down by Rs. 1 (0.74%) closing at Rs. 134, whilst foreign holdings decreased by 352,710 shares.
Expolanka Holdings and LOLC Holdings were also included amongst the top turnover contributors. The share price of Expolanka Holdings recorded a gain of Rs. 0.10 (0.22%) to close at Rs. 45.50. The share price of LOLC Holdings appreciated by Rs. 1 (0.31%) to close at Rs. 321.
Separately, People’s Insurance announced a final dividend of Rs. 3 per share.
(FT)