ECONOMYNEXT – The Colombo Stock Exchange closed up on Tuesday, data on its site showed.
The broader All Share Index closed up 0.37 percent, or 42.09 points, at 11,293; while the more liquid S&P SL20 Index closed up 0.39 percent, or 12.44 points, at 3,226.
Turnover was 582 million. Rs160 million of this came from John Keells Holdings, the top turnover generator of the day.
“Turnover was subdued,” Softlogic Stockbrokers said. “Although the market was back in the green, sentiment was conservative, and there was limited activity.
The banking counter closed mostly in green; Sampath Bank Plc was closed at 74.00, DFCC Bank Plc closed up at 69.20, and Commercial Bank Of Ceylon Plc closed flat at 89.40.
Several banks saw foreign buying interest. A net foreign outflow of 20 million rupees was recorded.
“However high net-worths, institutions remained sidelined.”
Top contributors to the ASPI were Richard Pieris and Company Plc (up at 19.50), Hatton National Bank Plc, (up at 183.00), and John Keells Holdings Plc (up at 179.50).
Top turnover generators included JKH, Vallibel Finance Plc (down at 39.70), Nations Trust Bank Plc (flat at 120.00), Commercial Bank, and Central Finance Plc (flat at 105.25)
Hayleys Fabric interim results showed a profit of 789mn which was a a Q-o-Q increase. The share closed down at 46.60.
Interim results of CIC Holdings Plc showed growth across all segments, due to the preference given by the government to the agriculture sector. The share closed flat at 67.00.
“Both these companies saw finance costs and and debt improve due to lower interest rates.” (Colombo/Aug6/2024)