ECONOMYNEXT – The Colombo Stock Exchange closed up on Thursday, data on its site showed.
The broader All Share Index closed up 0.29 percent, or 33.14 points, at 11,439; while the more liquid S&P SL20 Index closed up 0.62 percent, or 20.25 points, at 3,285.
Turnover was 756 million.
“It was a positive start for the month, there was more activity levels,” Softlogic Stockbrokers said. “There was renewed interest among market investors.”
John Keells Holdings Plc was the top turnover generator of the day, after a slump yesterday due to low interim results and an impending rights issue. The share contributed 164 million rupees to turnover, and closed up at 175.25.
There were two crossings in the day: Teejay Lanka Plc, which saw foreign interest, (up at 40.50) and Sampath Bank Plc (up at 75.50). They accounted for 12 percent of the total turnover.
“There was some renewed interest in apparel counters. Now that economic sentiment in apparel source markets like the EU, US, and UK, was improving, there’s a possibility that demand will pick up.”
Hayleys Group subsidiary Hayleys Fabric Plc also saw interest. The share contributed 82 million to the turnover, and closed up at 48.00.
Richard Pieris and Company Plc which released interim results, showed a 100 percent profit both on a Y-o-Y and Q-o-Q basis. The share closed flat at 19.00.
Interim results of tile companies Lanka Walltile Plc (flat at 50.00) and Royal Ceramics Lanka Plc (down at 31.50) showed a slump in profit. “Though PMI results show a pick up in the construction sector, these companies generally come in at the finishing stage. So it’s likely we’ll see some positivity later on.”
Capital Alliance announced a dividend of 4.5 rupees per share. The stock closed up at 44.40.
Foreign buying interest was seen in LB Finance Plc (up at 66.00), Vallibel Finance Plc (up at 41.00), and Browns Investments Plc (up at 5.40).
Foreign selling was seen on JKH, Samp, and Ceylon Cold Stores Plc (up at 56.50).
A net foreign outflow of 22 million rupees was recorded. (Colombo/Aug1/2024)