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 changes.
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 flowed out.
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 Financial Services.
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 trading.
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
source - www.dailynews.lk
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