The All Share Price Index of the Colombo Stock Exchange increased by 224.01 points yesterday. It closed at a new all-time high of 16,597.16 showcasing a 1.37% increment.
The S&P SL20 index also crossed the 5,000 mark for the first time, closing at 5,056.74. Turnover stood at Rs. 8.31 billion marking an 18.1% increase from the monthly average of LKR7 Bn.
During yesterday’s trading session, investor attention was focused on mid cap banks such as DFCC, HDFC and NDB, contributing to increased activity in the Banking Sector as a whole. Consumer Services sector counters picked up following the electricity tariff cut, resulting in positive sentiment towards the sector.
The Banking sector led the turnover with a 44% contribution, followed by the Capital Goods sector at 12%. The Diversified Financials and Materials sectors tied at 10% contribution each, towards overall turnover. Foreign investors remained net sellers, with a net outflow of LKR 279.4 Mn. COMB and HNB led the overall turnover with COMB recording a turnover of LKR 693.8Mn (8%) whilst HNB recorded a turnover of LKR 651.6Mn (8%).
Meanwhile, LCBF dominated the market volume with 14.3Mn shares (6%) while BIL was the second largest contributor with 14.2Mn shares (6%). Overall volumes increased to 241.5Mn.
Foreign investors remained net sellers, recording a net foreign outflow of LKR 279.4Mn, amidst high participation. Accordingly, HDFC, JKH and HNB were the top three shares to lead foreign outflow while SEYB, OSEA and CINV were the top three counters recording the largest foreign inflow.
First Capital Research
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