CSE crosses 6,000 points; wipes off two months of losses

Sri Lanka, Nov 01 (Insights Equity) – Posting over LKR1.5 bn of turnover, the Colombo Stock Exchange (CSE) closed near two-month high today as the main index of the market, recording its highest one-day gain for the year, crossed the 6,000-point barrier.

Both indices record sharp gains: Posting its highest close since September 07, 2018, the All Share Price Index (ASPI) gained 160.66 points to close the session 2.70 percent higher than yesterday to reach 6,114.13 points.

Meanwhile, more liquid S&P SL20 Index closed 136.99 points higher to end the session at 3,221.07 points, a gain of 4.44 percent from the previous session.

On-board contribution drives turnover: Despite ten crossings from Hatton National Bank (HNB), Access Engineering (AEL) and National Development Bank (NDB), off-board transactions generated only 22 percent of the turnover which stood at LKR1.5 bn (USD8.6 mn), nearly doubling the year-to-date average daily turnover of LKR792.6 mn (USD4.5 mn).

With only 3.6 mn shares trading off-board, the number of shares transacted stood at 53.1 mn, more than twice the year-to-date average daily volumes of 24.6 mn.

Foreign outflow picks up; exceeds more than LKR13 bn: Amid heavy foreign selling in John Keells Holdings (JKH), HNB and AEL, net foreign outflow expanded to LKR572.0 mn (USD3.3 mn) with year-to-date net foreign selling exceeding LKR13.7 bn (USD78.1 mn)

With a gain of 4.73 percent, HNB leads turnover generation: Gaining 4.73 percent, HNB spearheaded the turnover contribution with 29 percent as six crossings of the stock consisting 1.0 mn shares traded off-board at LKR210.0.

Moreover, JKH and AEL gained 3.14 percent and 12.18 percent respectively as the former generated 14 percent of the turnover while the latter made up 9 percent.

Banks, finance and insurance stocks led the sector-wise turnover generation with 53 percent followed by diversified holdings which contributed 18 percent.

Furthermore, SMB Leasing (non-voting) and MTD Walkers were among the highest gainers in the market today while Expolanka Holdings and Dialog Axiata were the most actively-traded counters of the day.

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  1. Net foreign inflow exceeds USD1 mn as CSE's wild swings continue - CapitalLeads.lk

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