By: Staff Writer
Colombo (LNW): The Colombo stock market achieved a sharp rebound yesterday with foreign investors stepping up buying, boosting the year to date net inflow to Rs. 3 billion.
The active S&P SL20 shot up by nearly 4% and the active ASPI by 2.5%. Turnover gained to Rs. 3.3 billion involving 95.5 million shares.
Net foreign buying amounted to Rs. 696 million boosting the inflow to Rs. 2 billion in July and year to date to Rs. 3 billion.
Asia Securities said following three sessions of subdued momentum, the indices returned to upward trajectory mainly led by banking sector counters while JKH (+5.2%) recorded sharp price increases during the session on the back of increased foreign buying.
The ASPI reclaimed the 11,000 mark at market-open and subsequently breached the 11,200 levels to close at 11,257 (+273 points)..
Foreigners recorded a five-month high net inflow boosted by net buying in JKH (Rs. 207mn), SAMP (Rs. 114mn), EXPO (Rs. 86mn), and SPEN (Rs. 59mn). Foreign selling topped in RCL at Rs. 8.8mn.
First Capital said the market picked up after continuous sessions of profit-taking as interest emerged on blue-chip and banking counters. Investor interest continued on JKH, while retail participation was observed on small and mid-cap shares.
Treasury sector shares enticed investor interest as T-bill rates slightly reduced from yesterday’s T-bill auction. The ASPI ended in the green zone at 11,258, gaining 273 points, nearly a month after it gained over 600 points following the DDO clarification.
NDB Securities said high net worth and institutional investor participation was noted in Nations Trust Bank, John Keells Holdings, and Hatton National Bank. Mixed interest was observed in Sampath Bank, LOLC Holdings and National Development Bank, whilst retail interest was noted in Browns Investments, Dialog Axiata and Shaw Wallace Investments.
The Banking sector was the top contributor to the market turnover (due to Nations Trust Bank, Sampath Bank and Hatton National Bank) whilst the sector index gained 4.73%.
The share price of Nations Trust Bank gained Rs 4.20 (4.45%) to Rs 98.60. The share price of Sampath Bank moved up by Rs 3.50 to Rs 77. The share price of Hatton National Bank appreciated by Rs 10.25 to close at Rs 186.25.
The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 3.40%.
The share price of John Keells Holdings increased by Rs 8.25 (5.20%) to Rs 167.00. LOLC Holdings was also included amongst the top turnover contributors. The share price of LOLC Holdings recorded a gain of Rs 9 to close at Rs 493.25.
