ECONOMYNEXT – The Colombo Stock Exchange closed up on Wednesday, data on its site showed.
The broader ASPI closed up 1.29 percent, or 171.69 points, at 13,511; while the more liquid S&P SL20 Index closed up 1.90 percent, or 74.80 points, at 4,016.
“The ASPI reached an all-time high,” market participants pointed out, with the S&P SL20 also breaching the 4,000 mark.
Turnover was 5.2 billion. Most of this came from capital goods (Rs1.16bn) and banks sectors (Rs1.18bn).
“The market is extremely bullish, and rates are supporting this.
“There is fresh buying interest as the debt restructuring nears completion.”
Investor interest was seen in banking and bluechip stocks, they said.
Banking stocks saw interest: Commercial Bank (up at 127.00), Sampath Bank (up at 99.80), Hatton National Bank (up at 238.00), DFCC Bank (up at 88.00), and National Development Bank (up at 85.30).
John Keells Holdings saw investor interest; the share closed up at 20.60.
The tourism sector also gained traction, they said, as did the diversified financials on expectations of the lifting of the vehicle import ban.
Top positive contributors to the ASPI were JKH, Commercial Bank, Sampath Bank, HNB, and Lion Brewery (up at 1,177.25).
Top turnover generators were Commercial Bank, Ambeon Capital (up at 18.90), Sampath Bank, JKH, and Alumex (up at 13.40).
Crossings were recorded on Ambeon Capital, Commercial Bank, Alumex, Agarapatana Plantations (up at 9.10), JKH, Lanka Milk Foods (up at 33.80), LB Finance (up at 81.40), Hemas Holdings (up at 87.00), and Lanka IOC (up at 114.00).
There was a net foreign outflow of 246.68 million.
Foreign selling was seen in Ambeon Capital, Commercial Credit and Finance (up at 46.60), Vallibel Finance (up at 46.80), Hemas, Colombo Dockyard (up at 59.50), and People’s Leasing (up at 14.10).
Foreign buying was seen Sampath Bank, JKH, Industrial Asphalts (up at 0.40), Alumex, Commercial Bank, and Royal Ceramics (up at 35.70). (Colombo/Dec4/2024)
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