Colombo Stock Exchange recovers sharply

The Colombo Stock Exchange recovered sharply yesterday with notable price appreciations in several counters. Interestingly, very few counters such as TPL, KURU, MGT, NEST and COLO recorded price depreciations during the day.

ASI jumped by 255.29 points (+5.08%) and closed at 5,279.09 while sensitive MPI advanced by 179.22 points (+4.10%) to end at 4,552.84.

Swarnamahal Financial Plc (Rs.59.8mn) emerged as the highest contributor to the daily turnover.

The counter continued its bull run where it closed at Rs.172.10 (+up Rs.11.10).In addition Environmental Resources Plc (Rs.58.4mn) and HVA Foods Plc (Rs.48.6mn) made significant contributions to the daily turnover.

Furthermore all the high turnover counters displayed heavy trading during the day.

Nation Lanka Finance Warrant (CSF.W0021) which was listed on the exchange today displayed a notable intraday rally. CSF.W0012 closed at Rs.3.20, up Rs.2.90 (+966.7%). Foreign participation stood at 12.4% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of Rs.51.01mn.

Lanka Securities Research