Bullish run continues
By Mario Andree
The bullish run at the Colombo Stock Exchange extended for the third consecutive day on Friday (24) as the benchmark index posted gains on a relatively higher turnover despite continued foreign exits from the Colombo Bourse.
The benchmark All Share Price Index, which started the day at 8,830.35 points, peaked to 8,873.48 points during the opening hours of the day before crashing to 8,855.24 points by mid-day. The index then gained to 8,930.39 points and crashed to 8911.85 points. The index closed the day at 8,940.11 points, gaining 109.76 points (1.24 per cent) compared to the previous day’s close.
Expo Lanka Holdings, Commercial Leasing and Finance, LOLC Development Finance, Browns Investment and LOLC Holdings pushed the ASPI up, while Dialog Finance, Ceylon Tobacco Company, Cargills Ceylon, Kotmale Holdings and Central Finance Company tried to drag it down. The more liquid S&P SL20, representing the top 20 shares, which started at 3,313.42 points, peaked 3,330.75 points during the early hours before crashing to 3320.06 points.
Then index then gained to 3,361.72 points before crashing to settle at 3,347.81, gaining 34.39 points (1.04 per cent) compared to the previous day’s close. The daily turnover at the Colombo Stock Exchange stood at Rs 2.9 billion, higher than the Rs 2 billion recorded during the previous market day.
More than 135.15 million shares changed hands during 29,324 trades. Shares of 245 companies were traded, of which 110 emerged as winners as against 66 losers. Foreigners were net sellers during the day. Net foreign outflow during the day amounted to Rs 46 million, as foreigners sold shares worth Rs 117 billion as against purchases worth Rs 71 million.
The top the gainers during the day were: Blue Diamonds (non-voting), Blue Diamonds, Sigiriya Village Hotels, Commercial Development Company, Anilana Hotels, Tea Smallholders, LOLC Development Finance, ACME, Commercial Leasing & Finance and Kandy Hotels.
The top ten losers were: Tess Agro (non-voting), Tess Agro, Dialog Finance, Autodrome, Colombo Investment Trust, Madulsima Plantations, Namunukula Plantations, Kotmae Holdings, Sinhaputhra Finance (P) and Nations Trust Bank (non-voting).