The Colombo stock market commenced the new week on a positive note, with indices rising and a notable net foreign inflow of over Rs. 400 million. The active S&P SL20 index increased by 0.55% while the benchmark ASPI rose by 0.41%.
Turnover reached Rs. 1.56 billion, involving 29.2 million shares. Net foreign buying was led by JKH at Rs. 319.3 million, followed by Hemas at Rs. 127 million. The two companies also saw multiple crossings, accounting for 48% of the turnover.
According to Asia Securities, indices began the week in the green with the ASPI gaining 48 points (+0.4%) and the S&P SL20 index rising by 19 points (+0.6%). This was supported by price increases in MGT (+1.3%), LMF (+2.4%), TKYO (+2.1%), DIST (+1.5%), LOFC (+3.3%), COCR (+0.3%), and LOLC (+1.3%). The ASPI reached an intra-day high of 11,912 (+68 points) before stabilizing at 11,892 (+48 points).
Price gainers such as COMBN (+6 points), RICH (+4 points), and LOLC (+4 points) provided support for the ASPI during the session. Market breadth was positive with 100 price gainers and 64 decliners.
Turnover was led by crossings in JKH (Rs. 621 million) and HHL (Rs. 124 million), with notable activity in CINS (Rs. 152 million) during the session.
First Capital reported that the Colombo bourse started the week positively, reflecting last week’s sentiment, with the index experiencing sustained bullish momentum. Nearly all banking sector counters and conglomerates showed gains. The ASPI ended the day at 11,892, gaining 48 points. Significant buying interest in COMB was noted ahead of the XR date, which falls today. Despite limited participation from retail investors, HNWIs were actively involved, with 47.7% of the overall turnover coming from off-board transactions.
The Capital Goods sector contributed 61% to the turnover, while the Insurance and Banking sectors jointly contributed 20%. A significant number of shares traded in CINS resulted in the insurance sector being the second-highest contributor to turnover. NDB Securities noted mixed interest in Commercial Bank, Hayleys Fabric, and Distilleries, while retail interest was seen in LOLC Finance, Dialog Axiata, and R I L Property.
The Capital Goods sector was the top contributor to market turnover due to John Keells Holdings and Hemas Holdings, with the sector index gaining 0.30%. The share price of John Keells Holdings decreased by 25 cents to Rs. 194.25, while Hemas Holdings’ share price increased by 40 cents to Rs. 81.40.
The Insurance sector was the second-highest contributor to turnover due to Ceylinco Insurance, although the sector index decreased by 0.32%. The share price of Ceylinco Insurance dropped by Rs. 3.75 to Rs. 2,479.50.
Commercial Bank and Hayleys Fabric were also among the top turnover contributors. The share price of Commercial Bank increased by one Rupee to Rs. 104.50, while Hayleys Fabric’s share price appreciated by 60 cents to Rs. 46.