ECONOMYNEXT – The Colombo Stock Exchange closed up on Wednesday, data on its site showed.
The broader All Share Index closed up 0.22 percent, or 26.27 points, at 11,811; while the more liquid S&P SL20 Index closed up 0.30 percent, or 10.48 points, at 3,448.
Turnover was 801 million. This was the highest in four days.
“The market rebounded into positive territory after a falling over the last few days,” Softlogic Stockbrokers said. “There was a small bounce back in the index.”
Two crossings contributed 47 percent of the turnover: Agalawatte Plantations Plc brought in Rs350mn, and the share closed down at 33.00.
“The plantation sector witnessed a crossing after awhile.” This was a local transaction, most likely among high net worth individuals and institutions, market participants said.
Sampath Bank Plc brought in Rs27mn to the turnover, and the share closed up at 77.40.
Sentiment around the banking counters were mixed. Commercial Bank of Ceylon Plc closed down at 101.25, DFCC Bank Plc closed up at 78.80, and Hatton National Bank Plc closed up at 195.25.
The plantation sector also saw drops in share prices in some companies. Elpitiya Plantations Plc closed down at 99.00, Bogawantalawa Tea Estates Plc closed down at 35.10, and Maskeliya Plantations Plc closed down at 30.00.
The top contributors to the ASPI were Melstacorp Plc (up at 81.90) Singer (Sri Lanka) Plc (down at 15.30), Sampath Bank Plc, Browns Investments Plc (up at 5.70) and Hayleys Plc (up at 99.90).
“We think this lackluster sentiment might continue.”
Foreign participation remained low as well. There was a net foreign outflow of 28 million. (Colombo/Jul10/2024)