Market bounces to green

There was a modest revival in risk appetite in the Colombo Stock Exchange with indices trading in the light green ground to end positive. ASI gained 14.72 points (+0.20 percent) and ended at 7,446.69 while liquid MPI gained 20.84 (0.30 percent) to close at 6,878.45.

Market turnover improved to Rs 3.9 billion.

Colombo Land & Development Plc (CLND) (Rs 534.3mn) was the top contributor to the turnover for the third consecutive day. The counter recorded an off-the-floor deal of 4.1mn shares at a price of Rs 38.30.

Additionally, John Keells Holdings Plc (Rs 526.5mn) and Touchwood investments Plc (Rs.395.0mn) made noteworthy contributions.

Furthermore Touchwood investment Plc was the most actively traded counter during the trading session.

In the meantime heavy investor participation was witnessed in counter such as Dunamis Capital Plc, First Capital Holdings Plc and Janashakthi Insurance Plc. At the end of the day counters which attracted heavy investor participation, registered the top gains with Touchwood investment and Dunamis Capital Plc witnessing significant prices appreciations of Rs 8.90 (+63.1 percent) and Rs 7.30 (+30.9 percent) respectively.

Lanka Securities Research