The Colombo stock market opened the week in green barely holding onto to an early session rally.
The ASPI opened strong, gaining more than 135 points and peaking at 21,310.55 in early trading, but declined thereafter to close up 0.07% or 14.38 points at 21,187.22. The active S and P SL20 closed up 0.10% or 6.18 points at 5,948.74.
With 113 counters closing in green against 90 in red, the ASPI was buoyed by contributions from JKH, DIAL, SPEN, SEMP and HNB.
Market turnover was over Rs. 2 billion on over 65.1 million shares traded and foreign investors were net buyers on a net inflow of Rs. 15.7 million.
First Capital Research said investor sentiment was primarily supported by the sharp decline in global oil prices, which eased concerns over inflationary pressures and reduced input cost expectations. Sentiment was further supported by easing US-Iran tensions.
HNW investors were the primary contributors to today’s turnover, which remained at a relatively high level. Meanwhile, retail investor participation was slightly above the average, reflecting continued broad-based market interest.
The capital goods sector led the daily turnover with a share of 42%, followed by the banking, and food beverage and tobacco sectors collectively contributing 39%.
NDB Securities said crossings were witnessed in John Keells Holdings and Hatton National Bank, with Hayleys accounting for 50.3% of turnover.
Mixed interest was observed in Sampath Bank, Nations Trust Bank and Ceylon Cold Stores, whilst retail interest was noted in Industrial Asphalts, LVL Energy Fund and LOLC Finance.
The capital goods sector was the top contributor to market turnover due to John Keells Holdings and Hayleys, whilst the sector index gained 0.77%. The share price of John Keells Holdings increased by 20 cents to close at Rs.19.80 and Hayleys closed flat at Rs.225.
The banking sector was the second-highest contributor to market turnover due to Sampath Bank, Hatton National Bank and Nations Trust Bank, whilst the sector index edged down by 0.03%. The share price of Sampath Bank lost 25 cents to close at Rs.136.75, while Hatton National Bank moved up Re. 1 to Rs.386 and Nations Trust Bank edged down 25 cents to 305.