Colombo stock market maintained its rally to close the week in green with the benchmark index gaining sharply and crossing 22,500 for the first time.
Yesterday, ASPI closed 0.97% up, gaining 217.65 points to 22,633.80 and the S and P SL20 closed up 0.58%, gaining 36.39 points to 6,263.03.
Market turnover was more than Rs. 11.2 billion on over 282.6 million shares traded. Foreigners were net sellers with a net outflow of Rs. 1.4 billion.
During the week, ASPI had gained 315.08 points, up 1.4% while the S and P SL20 was up 37 points, or 0.59%. Foreigners were net sellers during the week with a net outflow of Rs. 3.1 billion.
First Capital Research said, the Colombo Bourse maintained its upward momentum throughout the day, gaining 218 points to close at 22,634.
The market witnessed a higher number of off-board transactions, while HNW activity remained strong, particularly in Banking and other blue-chip counters.
Retail participation was average compared to previous sessions, with limited interest seen in small to mid-cap shares.
CTHR, HARI, CARG, JKH, and DFCC emerged as the key positive contributors to the index.
Turnover remained robust at Rs. 11.3 billion, marking a significant 57% increase compared to the monthly average of Rs. 7.2 billion.
A share volume of 779,123 in HARI accounting for a notable stake of 40% was purchased by HAYL, contributing significantly to today’s turnover.
The Banking sector dominated activity, accounting for 29% of total turnover, while the Food, Beverage, and Diversified Financials sectors collectively contributed 38%. Meanwhile, foreign investors remained net sellers, recording a net outflow of Rs. 1.4 billion.