The Colombo stock market yesterday ended the week on the up on improving sentiment from easing tensions in the Middle East and subdued movement in oil prices.
During the week, the ASPI gained 1.14% and the active S and P 20 was up 0.81%.
Yesterday, the ASPI ended up 0.47% or 100.42 points at 21,370.09 and the S and P SL20 gained 0.28% or 16.66 points to 5,988.16. Market turnover was nearly Rs. 1.9 billion on over 122.2 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 15.8 million.
First Capital Research said amid an easing global geopolitical environment and softer oil prices, investor sentiment at the Colombo Bourse remained positive for the third consecutive trading session.
HAYL, CFIN, JKH, RIL, and DOCK were the primary positive contributors to the ASPI. Participation from both HNW and retail investors remained at average levels throughout the session.
The banking sector led the daily turnover with a share of 32%, followed by the capital goods, and diversified financials sectors collectively contributing 30%.Foreign investors remained net sellers, posting a net outflow of Rs. 15.8 million.
NDB Securities Research said High net worth and institutional investor participation was noted in Cargills Bank, Ceylon Cold Stores and C T Holdings. Mixed interest was observed in Commercial Credit and Finance, Sierra Cables and Singer Sri Lanka whilst retail interest was noted in SMB Leasing, Industrial Asphalts and Browns Investments.
The banking sector was the top contributor to the market turnover due to Cargills Bank whilst the sector index gained 0.29%. The share price of Cargills Bank fell 50 cents to Rs.7.
The capital goods sector was the second highest contributor to the market turnover due to Sierra Cables whilst the sector index increased by 1.02%. Sierra Cables moved up by Rs.1.20 to Rs.31.30.
Commercial Credit and Finance, Singer Sri Lanka and Ceylon Cold Stores were also included amongst the top turnover contributors. Commercial Credit and Finance gained Rs.1.75 to Rs.109.25, Singer Sri Lanka recorded a gain of Rs.1.20 to Rs.76.20, and Ceylon Cold Stores appreciated by 25 cents to close at Rs.127.25.