The Colombo Stock market rebounded sharply as benchmark ASI soared to
year to date high. ASI advanced by 147.27 index points (2.22%) to close
at 6,652.83 while more sensitive MPI closed at 6,078.13, up 134.22 index
points (2.26%). The advancing shares far outnumbered the decliners. 229
shares rose while only 21 ones fell and 14 counters closed with no
Daily market turnover was Rs 1.5 billion. Out of the total turnover,
Rs 926.9 million cash flowed into the market while Rs 569.7 million cash
Market RSI based on All Share Index increased to 42.3 from the
previous figure 29.3.
Volatile price trend was seen the speculative counter Swarnamahal
The share price which gained Rs 12.70 yesterday saw a dip in price of
Rs 13.20 and closed at Rs 112.00. Nevertheless with the high retail
investor activity the counter emerged as the top contributor to today’s
turnover with an amount of Rs 136.9mn.
Guardian Capital Partners (Rs 102.9mn) and Softlogic Holdings (Rs
94.4mn) made notable contributions to the market turnover with heavy
Unfolding corporate earnings for the March-June quarter boosted
investor activity on premier counters.
John Keells Holdings profit up 35% for. Stock closed at Rs 190.00, up
Rs 3.50. Sampath bank profit up by 52%, Sampath reached the high of Rs
145.00 and closed at Rs 240.90, up Rs 10.90. Ceylon Cold Stores profit
up by 58%, the counter gained Rs.19.00 and closed at Rs 365.00.
Poultry sector counters witnessed notable activity levels during the
day and closed with considerable gains. Ceylon Grain Elevators up Rs
16.20, Tree Acre Farms up Rs 22.50 and Bairaha Farms up Rs 24.80.
Further, Vallibel One, Nation Lanka Finance and Browns Investments were
among the mostly traded counters. Foreign participation was lower
however slightly improved to 7% from yesterday’s figure of 3%. Foreign
investors ended as net sellers with net foreign outflow of Rs 131.6mn.
Lanka Securities Research