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Saturday, August 13, 2022

President’s speech boosts trading in bourse

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President Ranil Wickremesinghe’s Throne Speech made on Wednesday (3) has boosted the investor sentiments and the bourse trading had increased rapidly thereafter, Stockbrokers said.

Colombo bourse continued it’s upward trend amidst healthy turnover amidst positive developments in listed large caps along with some clarity in the political front. Further, President in his latest speach mentioned that work is in progress to modernise and strengthen the economy whilst bringing stability in the short-term and proposed a series of broader goals and policy transformations.

The All-Share Price Index increased yesterday by 149.0 points (+1.8%) to close at 8,229.1 for the day whilst S&P SL20 Index gained by 91.6 points (+3.5%) to close at 2,677.7.LOLC Holdings, Expolanka Holdings, Royal Ceramics, Lanka IOC and LOLC Finance remained as the top positive contributors to the ASPI during the day. Further, broader market’s total turnover stood at Rs. 3,799.6mn against the 12month average daily turnover of Rs.4,464.9mn, whilst

the volume traded for the day was 150,159.8k against the 12-month average daily volume of 216,191.6k. Energy, Diversified Financials, Capital Goods and Transportation mostly contributed to yesterday’s turnover.

The top turnover generators for yesterday were Expolanka Holdings Rs.955.8mn (+8.8%), Lanka IOC Rs.523.7mn (+8.9%), LOLC Finance Rs.333.5mn (+12.1%), Melstacorp Rs.352.3mn (- 3.3%)andBrowns Investments Rs. 190.8mn(+5.3%).Foreigners recorded a net outflow of Rs.206.3mnyesterday.Foreign purchases stood at Rs. 262.4mnwhilst total foreign sales amounted to Rs.468.7mn.Top foreign buying counters HAYLLKR.8.1 mn, MASKLKR.2.5mn, BERULKR.5 mn,BOPLLKR.2.1 mn, TKYOLKR.2.0 mn and TKYOXLKR.1.7 mn whilst top foreign selling counters were MELSLKR.(151.4)mn, EXPOLKR.(53.4)mn, PARQLKR.(6.9)mn, LLUBLKR.(6.7)mn,

VPELLKR.(4.6)mn and LIOCLKR.(3.7)mn. Further, off-board transactions were witnessed in Melstacorp (Rs.260.8 mn) and John Keells Holdings (Rs.120.0mn) yesterday.

Additionally, Industrial Asphalts, Kotmale Holdings, Agstar, Hunas Falls Hotels and Lanka Ashok Leyland were the top price gainers yesterday whilst Sigiriya Village Hotels, Talawakelle Tea Estates,Renuka Foods (Non-Voting),Guardian Capital Partners and Elpitiya Plantations were the top price losers. Further, LOLC Finance, Browns Investments, Softlogic Capital, Melstacorp and Lanka IOC were amongst the most actively traded stocks yesterday.

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