Friday Market: Shares continue to gain
By Mario Andree
The Colombo Stock Exchange extended gains for the third consecutive session, as the benchmark index on Friday (10) rose on a modest turnover to record a new 8-week high despite foreigners continuing to exit the Bourse. The benchmark All Share Price Index (ASPI), which started the day at 7,601.16 points, crashed to 7,568.63 points during the early hours before peaking to 7627.65 points during the second half of the day. The index settled at 7,610.30 points gaining 9.14 points (0.12 per cent) compared to the previous day’s close.
The more liquid S&P SL20, which started the day 3,074.10 points, crashed to 3,054.81 points during the early hours but recovered to close the day at 3,067.03 points, down 7.07 points (0.23 per cent) compared to the previous day’s close.
The day’s turnover neared Rs 2.27 billion, lower higher than the Rs 3.2 billion recorded during the Market’s previous day’s trading. Shares of 259 listed companies were traded during the day of which 113 were winners comfortably ahead of 64 losers. More than 103.8 million shares changed hands during the 24,140 trades that took place.
Foreigners exited the CSE on Friday (10) for the second consecutive day. The net foreign outflow during the day amounted to Rs 92 million as foreigners sold shares worth Rs 170 million as against purchases worth Rs 78 million. The top ten winners during the day were: Ceylon Tea Brokers, Orient Finance, Browns Beach, LOLC Development Finance, Colombo Land Development Company, Lankem Ceylon, Dankotuwa Porcelain, Marawila Resorts, Lanka Ventures and Commercial Leasing and Finance.
Top ten losers were: Nation Lanka Finance, Sigiriya Village Hotels, HVA Foods, Property Development, Mahaweli Coconut Plantations, Hotels Corporation, Abans Financial, Softlogic Capital, Amana Takaful and Lotus Hydro Power.