On Monday, Union Bank gathered further steam led retail investors. The bullish trend on Union Bank seemed to have rubbed off on other mid-capped counters such as Colombo Land and Vallibel One. Meanwhile Kegalle Plantations saw a private deal taking place on the normal board. Normally, a sluggish period is seen with minimal activity in the past during the upcoming festivities. But there seems to be a clear reversal this year.
ASI gained 11.44 points (0.2%) to close at 5,777.38 and the S&P SL20 index gained 9.28 points (0.28%) to close at 3,321.81. Turnover was Rs. 398.0Mn.Top contributors to turnover were Union Bank with Rs. 63.6Mn, Kegalle Plantations with Rs. 44.2Mn and Carson Cumberbatch with Rs. 35.6Mn. Most active counters for the day were Union Bank, Vallibel One and Colombo Land & Development.Foreign participation was 8.5% of total market turnover with net foreign inflow of Rs. 34.87Mn.
Profit taking was quite evident on Tuesday as retail investors cashed in before the weekend. Activity on blue-chips remained relatively low which was reflected by a lower turnover. Weligama Properties, a subsidiary of East West Properties announced a private placement with the latter rising by almost 10%. ASI dipped 9.78 points (-0.17%) to close at 5,767.60 and the S&P SL20 index dipped 5.06 points (0.15%) to close at 3,316.75. the turnover was Rs. 399.2Mn.Top contributors to turnover were John Keells Holdings 79.3Mn, Hatton National Bank with Rs. 32.7Mn and Carson Cumberbatch with Rs. 32.2Mn. Most active counters for the day were Union Bank, Vallibel One and Colombo Land & Development. Foreign participation was 26% of total market turnover whilst net foreign buying was Rs. 112.2Mn.
On Wednesday, gains on Sri Lanka Telecom and Nestle helped boost indices whilst retail sentiment also picked up. Turnover levels low with institutional activity on the sidelines. With treasuries holding steady, it will bring a sense of relief to equity investors.
ASI gained 26.70 points (0.46%) to close at 5,794.30 and the S&P SL20 index gained 5.74 points (0.17%) to close at 3,322.49. turnover was Rs. 309.4Mn.Top contributors to turnover were Commercial Bank with Rs. 27.4Mn, National Development Bank with Rs. 25.5Mn and Central Finance with Rs. 23.7Mn. Most active counters for the day were East West Properties, Union Bank and Nation Lanka Finance.Foreign participation was 10.41% of total market turnover with net foreign buying of Rs. 11.4Mn. Retail investor driven activity picked on Thursday whilst institutional activity was seen on mainly banking and financials. Sound investor participation ahead of the festive season is a promising indication of improving sentiment in the CSE. Foreign interest was seen on Hatton National Bank. Foreign interest on blue-chips during the past few months could be held as the main reason for the current revival in the condition of the market. However, retail participation continues at discrete levels. ASI gained 19.07 points (0.33%) to close at 5,813.37 and the S&P SL20 index gained 6.93 points (0.21%) to close at 3,329.42. Turnover was Rs. 940.5Mn.Top contributors to turnover were Hatton National Bank with Rs. 462.9Mn, Commercial Bank with Rs. 103.7Mn and Cargills with Rs. 56.1Mn. Most active counters for the day were Union Bank, Free Lanka Capital Holdings and Nation Lanka Finance. Foreign participation was 39% of total market turnover whilst net foreign buying was Rs. 480Mn.