Retail participation was up and running soon after the festivities on Tuesday which was promising for all stakeholders. Block trades on banking counters helped to prop up turnover levels with PABC seeing a 15% stake being split amongst 6 trades. Banking counters were also seen regaining momentum whilst Lion Brewery touched an all-time high price of Rs. 340.00.
ASI gained 12.80 points (0.22%) to close at 5,852.68 and the S&P SL20 index gained 18.03 points (0.54%) to close at 3,351.57. Turnover was Rs. 1,580.0
On Wednesday, sentiment remained strong buoyed by interest on blue-chips. Foreign accumulation of blue-chips has seen local investors also building their appetite for equities. Banking counters and John Keells Holdings continued to be the dominant performers in the market. Retail activity is rallying around the surge in foreign buying. However, investors are cautioned to stick to value investing to minimize unwarranted speculation.
ASI gained 15.85 points (0.27%) to close at 5,868.53 and the S&P SL20 index gained 10.42 points (0.31%) to close at 3,361.99. Turnover was Rs. 611.5Mn.
On Thursday, retail activity surged ahead of institutional interest on stocks. Low-capped and mid-capped counters saw continued retail speculation. Blue-chips retreated on mainly losses on banking and financials. Lower yields on treasuries seemed to have spurred retail activity with the CBSL expecting lower rates going forward.
ASI gained 23.30 points (0.40%) to close at 5,891.83 and the S&P SL20 index lost 10.84 points (0.32%) to close at 3,351.15. Turnover was Rs. 800.9Mn.
Indices closed lower mainly on the losses on blue-chips on Friday. Most banking counters lost marginally on thin volumes. Ceylon Tobacco Company surged ahead with a dividend announcement around the corner. Retail activity which was rallying around foreign was seen taking an off-day. Colombo Land in particular received plenty of retail activity today. Negotiated deals on Commercial Bank took the lion’s share of the turnover.
ASI dipped 9.58 points (0.16%) to close at 5,882.25 and the S&P SL20 index lost 15.03 points (0.45%) to close at 3,336.12. Turnover was Rs. 1,033.9Mn.
Top contributors to turnover were Commercial Bank with Rs. 520.4, Nations Trust Bank with Rs. 54.9Mn and Colombo Land & Development with Rs. 53.3Mn. Most active counters for the day were Colombo Land & Development, Citrus Leisure warrant 19 and HVA Foods.
Notable gainers for the day were Colombo Land & Development up by 8.9% to close at Rs. 41.50, Kelsey Homes up by 8.8% to close at Rs. 16.00 and Beruwala Walk Inn up by 8.7% to close at Rs. 2.50. Notable losers for the day were SMB Leasing down by 10.0% to close at Rs. 0.90, Amana Takaful down by 5.9% to close at Rs. 1.60 and Ceylon Leather Products down by 5.6% to close at Rs. 3.40.
Cash map for today was 38.99%. Foreign participation was 34.7% of total market turnover with net foreign buying at Rs. 491.0Mn.
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