Bourse gains
Colombo bourse, coming off four consecutive trading sessions of
losses, gained in value on Thursday.
The benchmark ASI recovered 64.12 points (+1.20%) to close at
5,387.33 while sensitive MPI recovered 42.41 points (+0.87%) to close at
4,899.25. S&P SL 20 Index gained 28.71 points (0.98%) to close at
2,951.85.
Daily market turnover reached LKR 877.1mn supported by institutional
activities in Nestle, John Keells Holdings, Distilleries, NDB and
Environmental Resources Investments (warrants).
Accordingly almost 63% of the total turnover was from crossings. Top
contributor to the turnover was Distilleries (LKR 182.1mn) followed by
National Development Bank (LKR 128.5mn) and Environmental Resources
Investments warrant 0006 (LKR 103.2mn).
Stocks which played a major role in driving the index up include
Nestle Lanka (up 8.1%, close at LKR 1,300.99), Sri Lanka Telecom (up
2.6%, close at 43.20), and Chevron Lubricants (up 2.6%, close at
190.00).
Out of the 19 stocks traded in S&P SL Index, only one (Carsons
Cumberbatch) recorded a drop in price.
Central Investment & Finance, Peoples Leasing & Finance, HVA Foods
and Swarnamahal Financial Services were the heavily traded stocks for
the day.
Foreign participation was relatively higher and it accounted for 66%
of the total turnover.
Foreign investors ended as net buyers with a net inflow of LKR
120.2mn.
In terms of technical indicators market RSI on All Share Index
increase to 41 from the previous figure of 29.
The 5day moving average line is just about to cross the 10day moving
average from the bottom which can be considered as a short-term bullish
crossover.
And also cash map excluding crossings improved to 56% suggesting the
return of bargain hunters to the stock market. |