ECONOMYNEXT – The Colombo Stock Exchange indices ended strong on Friday, bucking the fall in indices in mid-morning trade, data on its site showed.
The All Share Price Index remained above the psychological 16,000 mark despite the fall in indices.
The broader ASPI closed up 0.26 percent or 41.38 points at 16,257.31; while the more liquid S&P SL20 Index closed up 0.28 percent or 13.62 points at 4,931.66.
Turnover was 5.41 billion rupees, while the share volume rose 25.8 percent to 198,932,580.
Analysts say many new accounts are surging into the market, with falling interest rates and doubled withholding tax making the market attractive.
There was continued interest in the banking sector and consumer sector.
Cargills Bank was up 1.2 percent to 8.60, NDB ended 0.2 percent stronger at 115.75, Dilmah was up 0.5 percent to 1,116.00 and John Keels rose 0.4 percent to 24.00.
There was a net foreign outflow of 221 million rupees for the day, continuing the downward trend after recording an inflow of 194 million rupees on Thursday.
Top foreign selling was seen in John Keells 230.6 million rupees, Agarapatana Plantations 19.1 million rupees, JAT 15.7 million rupees, Chevron Lubricants Lanka Plc 15.3 million rupees, HNB 13.6 million rupees and LOLC Finance 12.8 million rupees.
Most active volumes were seen in John Keells Holdings at 22,822,571 (turnover 547,555,467.80 rupees), Dialog at 16,809,239 (turnover 215,730,678.80 rupees), Brown Investments at 15,383,435 (turnover 123,456,181.00 rupees) and LOLC Finance at 11,533,400 (turnover 75,692,426.40 rupees).
Top contributors to the ASPI were Dialog (ended 5.7% stronger at 12.90), DFCC Bank (rose 2.1% to 119.25), Dipped products (climbed 4.9 % to 55.60), Hemas Holdings (rose 2.6% to 109.00) and Commercial Bank (up 0.7% to 145.25).
Listed telco Dialog Axiata announced that Hans Wijesinghe, presidential advisor on digital economy, had resigned from its board, and Vivek Sood has been appointed as non-independent, non-executive director on the board with effect from January 16. (Colombo/Jan17/2025)
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