Colombo Bourse closed higher on Thursday for the sixth day in a row, propelling the All Share Index up more than 226 points this week, after Central Bank governor hinted that the central bank may lower policy rates again. The Monetary Board is expected to release the policy review for this month, tomorrow.
ASI gained 28.61 points (+0.5%) to close at 18 month high of 6,238.71. S&P SL 20 index closed at 3,526.51 with gain of 5.21 points (+0.2%). Investors' renewed hopes for a rate cut drove the activity levels across the board and the market turnover reached Rs. 2.1bn.
Commercial Bank (Rs.416.5mn), Distilleries (Rs.315.4mn) and HNB (RS.207.7mn) were the top contributors to the turnover. Touchwood Investments (Rs.6.30,+5%), Capital Alliance Finance (Rs.26.80,+23%), East West Properties (Rs.17.20,+12%), Vallibel One (Rs.20.90,-3%) and Dankotuwa Porcelain (Rs.18.60,+3%) were among the heavily traded counters. Access Engineering, Royal Ceramics, Nation Trust Bank, Hemas Holdings, Piramal Glass, National Development Bank, ACL Cables were among the 18 counters that reached 52 week high today.
Cash map for today was 56%.
Foreigners were net buyers with net foreign inflow of Rs.194.1mn. Foreign participation accounted for 26% of the market activity. Net foreign inflow was seen in counters such as Distilleries, HNB and NDB.
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