ECONOMYNEXT – The Colombo Stock Exchange indices closed up on Tuesday, driven by banking sector stocks and retail interest.
“Bullyish trend is continuing,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC, told EconomyNext.
“Retail interest and turnover levels are quite high.”
The broader ASPI closed up 1.31 percent or 224.01 points at 16,597.16; while the more liquid S&P SL20 Index closed up 1.72 percent or 85.42 points at 5,047.45.
Turnover was 8.3 billion rupees, while the share volume rose from Monday to 241,547,375.
Most active volumes were seen in HDFC Bank (up at 54.20 rupees), John Keells Holdings (down at 23.70), Dialog Axiata (up at 13.50 rupees), and Ceylon Land and Equity (up at 9.40 rupees).
“There was continued interest in the banking sector, with the top 6 contributors being banking stocks.”
Top turnover generators were Commercial Bank (up at 147.50 rupees), Hatton National Bank (up at 334.75 rupees), DFCC (up at 132.75 rupees), NDB (up at 125.25 rupees), and Sampath Bank (up at 122.00 rupees).
“There’s interest in capital goods and construction stocks as well.”
Crossings were recorded on Commercial Bank, JKH, CIC Holdings (up at 108.00 rupees), Sampath Bank, HNB, HDFC, Nations Trust Bank (up at 188.25 rupees), Dialog Axiata, CIC Holdings non-voting (up at 77.90 rupees), Renuka Foods (up at 13.50 rupees), ACL Cables (flat at 127.25 rupees), Seylan Bank non-voting (up at 60.00 rupees), Sanasa Development Bank (up at 45.20 rupees), and DFCC.
There was a net foreign outflow of 279 million rupees for the day, continuing an outward trend.
Foreign selling was seen in HDFC, JKH, HNB, SDB, Sampath Bank and Dipped Products (up at 57.00 rupees).
Foreign buying was seen in Seylan Bank, Overseas Realty (up at 23.00 rupees), Ceylon Investments (up at 77.00 rupees), Hemas Holdings (up at 112.00 rupees), HNB Assurance (up at 91.20 rupees), and Beruwala Resorts (flat at 4.50 rupees). (Colombo/Jan21/2025)
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