Market rebounds to green despite thin turnovers | Daily News

Market rebounds to green despite thin turnovers

Market rebounded yesterday after tumbling for five consecutive days with the positive news that the Preliminary round of IMF talks ended on a positive note with the Prime Minister yesterday. Thus, The All-Share Price Index increased by 77.7 points (+1.0%) to close at 7,502.3 whilst S& P SL20 Index also increased by 35.7 points (+1.5%) to close at 2,400.6.

Expolanka Holdings, Dialog Axiata, DFCC Bank, Commercial Bank and Lanka IOC remained as the top positive contributors to the ASPI during the day. Further, broader market’s total turnover stood at Rs. 760.5 mn against the 12-month average daily turnover of Rs. 4,595.9 mn, whilst the volume traded for the day was 30,850.5k against the 12-month average daily volume of 222,410.6k. Banks, Telecom and Transportation mostly contributed to yesterday’s turnover. The top turnover generators for yesterday were Expolanka Holdings Rs.209.4 mn (+4.2%), Royal Ceramics (+1.9%), Lanka IOC Rs. 114.1 mn (+2.9%), Browns Investments Rs. 49.9 mn (+1.3%) and LOLC Finance Rs.32.5 mn (+1.5%). Foreigners recorded a net outflow of Rs. 9.5 mn yesterday. Foreign purchases stood at Rs. 20.6 mn whilst total foreign sales amounted to Rs. 30.2 mn. Top foreign buying counters ASCO LKR. 1.4 mn, EXPO LKR. 1.2 mn, CHMX LKR. 1.1 mn, AAIC LKR. 1.0 mn, AGAL LKR. 0.7 mn and LOFC LKR. 0.5 mn whilst top foreign selling counters were JKH LKR. (9.1) mn, SPEN LKR. (4.4) mn, RICH LKR. (3.4) mn, SAMP LKR (0.3) mn, LIOC LKR. (0.2) mn and GRAN LKR. (0.2) mn. Further, no off-board transactions were witnessed yesterday.

Additionally, SMB Leasing (Non-Voting), Industrial Asphalts, HVA Foods, Senkadagala Finance and Nation Lanka Finance were the top price gainers yesterday whilst The Fortress Resorts, Tangerine Beach Hotels, Amana Takaful,Lankem Ceylon and Aitken Spence Hotel Holdings were the top price losers. Further, Browns Investments, LOLC Finance, Royal Ceramics, Lanka IOC and Expolanka Holdings were amongst the most actively traded stocks yesterday.Courtesy Softlogic Stockbrokers

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