CSE continues to rally amid improved investor confidence in April
The Colombo Bourse closed positive in April, with the benchmark All Share Price Index (ASPI) rising by 8.0% MoM to 12,363 points (an increase of 919 index points).
The more liquid S&P SL20 index increased by 11.2% MoM to 3,690 points (an increase of 372 index points), stated CT CLSA – Market Statistics Report for April 2024.
Average daily turnover increased to Rs. 2,722 mn in April 2024 (vs. Rs. 1,867 mn in March 2024). Top contributors to monthly turnover were Sampath Bank (Rs. 3,894 mn, 49mn shares), Hatton National Bank (Voting) (Rs. 2,928 mn, 15mn shares), and Ambeon Capital (Rs. 2,514mn, 373mn shares).
The net foreign outflow decreased to Rs.23 mn in April 2024 following a net foreign outflow of Rs. 4,260 mn in March 2024. The contribution of foreign activities to market turnover was 8% in April 2024.
During the month, net foreign buying was seen in Ambeon Capital (Rs. 726 mn), Commercial Bank of Ceylon (Voting) ( Rs. 604 mn), and Asian Hotels & Properties (Rs. 165 mn), while net foreign selling was seen in Melstacorp (Rs. 586 mn), John Keells Holdings (Rs.523 mn), and Ceylon Cold Stores (Rs.340 mn).
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