ECONOMYNEXT – The Colombo Stock Exchange closed up on Tuesday, data on its site showed.
The broader All Share Index closed up 0.31 percent, or 34.93 points, at 11,347; while the more liquid S&P SL20 Index closed up 0.33 percent, or 10.74 points, at 3,244.
Turnover was 648 million.
“The positivity continued, with foreign interest contributing to a third of the turnover,” Softlogic Stockbrokers said. “There’s been a little bit of investor interest coming in, a sort of marginal recovery.”
There was one crossing recorded; Foreign buying on bluechip conglomerate John Keells Holdings Plc contributed over 100 million rupees to the turnover. The share closed up at 179.50 rupees. The stock was the largest contributor to the turnover in the day.
“Foreign appetite for John Keells has continued.”
JKH shares will be ex-rights from September 10, the company said. Rights can be traded from September 26.
Foreign selling was seen in Dipped Products Plc (up at 33.20), Chevron Lubricants Lanka Plc (flat at 119.00), and Laufs Gas Plc non-voting (up at 19.10).
Foreign selling was seen in JKH subsidiary Ceylon Cold Stores (down at 55.40), Aitken Spence Plc (down at 116.00), and Hayleys Plc (up at 94.20).
Ceylon Tobacco Company Plc which announced interim results showed a rise in profits on a Q-o-Q and Y-o-Y basis due to margin improvement and upward price revisions.
CTC also announced a dividend payment of 38.3 rupees per share. The share closed up at 1,250.00.
Mahaweli Coconut Plantations Plc also announced a dividend of 2 rupees a share.
Harischandra Mills Plc announced a dividend of 40 rupees per voting share.
First Capital Holdings Plc (flat at 27.910) and First Capital Treasuries Plc (up at 23.60) interim results showed a decline in profits both on a Q-o-Q and Y-o-Y basis. “The primary reason for this is the decline in government securities. Both treasury bills and bonds have seen declines and primary dealers are affected.”
A net foreign outflow of 22 million rupees was recorded. (Colombo/Aug13/2024)