Sri Lanka, Nov 09 (Capital Leads) – The Colombo Stock Exchange (CSE) edged up today after four straight sessions of losses as the market turnover exceeded LKR1 bn for the seventh consecutive session backed by local investor interest in John Keells Holdings.
Both indices end in positive territory: The broad market All Share Price Index (ASPI) edged up 48.04 points to close the session at 5,978.63 points, 0.81 percent higher from the previous session while more liquid S&P SL20 Index increased 30.39 points to stand at 3,094.21 points, with a gain of 0.99 percent from yesterday.
Turnover crosses LKR1 bn as on-board trades continue to dominate: Despite eight crossings from John Keells Holdings (JKH), National Development Bank (NDB) and Chevron Lubricants (LLUB), more than two-thirds of turnover was made up of on-board transactions which accounted for 18.7 mn of the 22.6 mn of total shares traded.
Meanwhile, the market turnover reached LKR1.3 bn (USD7.4 mn), well-over the year-to-date average daily turnover of LKR820.4 mn (USD4.7 mn).
Net foreign outflow continues to the second consecutive session: Driven by local buying in JKH and Access Engineering (AEL), the net foreign outflow of the market reached LKR660.8 mn (USD3.8 mn) today, expanding the year-to-date net foreign outflow to LKR17.5 bn (USD100.4 mn).
Diversified sector backed by JKH leads turnover generation: Gaining 1.75 percent, JKH led the turnover generation today with a contribution of 50 percent followed by 14 percent from NDB and 11 percent from LLUB.
NDB and LLUB traded 1.2 mn shares at LKR100.0 and 2.0 mn shares at LKR70.0 off-board respectively as the former generated mixed investor interest while foreign investor interest centered on the latter.
With 52 percent of contribution, diversified holdings led the sector-wise contribution followed by banks, finance and insurance stocks which made up 25 percent collectively.
Furthermore, SMB Leasing (non-voting) and MTD Walkers were among the top gainers of the market today while Expolanka Holdings and Dialog Axiata were two of the most actively traded counters of the day.