Bourse continues upward momentum

Colombo bourse continued the upward momentum throughout the trading session yesterday amidst mixed investor interest on bargain hunting.

Thus, All-Share Price Index increased by 173.4 points (+2.2%) to close at 8,173.9 for the day whilst S&P SL20 Index also gained by 58.5 points (+2.4%) to close at 2,513.5. Richard Pieris, Expolanka Holdings, Hayleys, Hatton National Bank and Lanka IOC remained as the top positive contributors to the ASPI during the day. Further, the broader market’s total turnover stood at Rs. 1,453.9 mn against the 12-month average daily turnover of Rs. 3,650.9 mn,

 whilst the volume traded for the day was 57,498.5k against the 12-month average daily volume of 192,036.8k.170,517.3k. Transportation, Banks, Capital Goods, and Energy sectors mostly contributed to yesterday’s turnover.

The top turnover generators for yesterday were Lanka IOC Rs. 366.7 mn (+3.1%), Expolanka Holdings Rs. 170.2 mn (+6.5), Lankem Developments Rs. 65.4 mn (+4.4%), Browns Investments Rs.62.4 mn (+4.0%) and LOLC Holdings Rs.61.2 mn (+0.8%). Foreigners recorded a net inflow of Rs. 6.4 mn for the week. Foreign purchases stood at Rs. 25.1 mn whilst total foreign sales amounted to Rs.18.6 mn.

Further, off-board transactions were witnessed in Commercial Bank (Rs.27.4 mn) and Sampath Bank (Rs.20.8 mn) yesterday.

Additionally, Industrial Asphalts, HNB Finance, Cargo Boat Development, Colombo Investment Trust and Abans Finance were the top price gainers yesterday whilst Nations Trust Bank (Non-Voting), Senkadagala Finance, Colombo City Holdings, Gestetner and Ceylon Guardian were the top price losers. Further, Browns Investments, SMB Leasing (Voting), Kotagala Plantations, LOLC Finance and Union Bank were amongst the most actively traded stocks yesterday.