JKH powers CSE for the highest daily gain for the year

Sri Lanka, Apr 04 (Capital Leads) – The Colombo Stock Exchange (CSE), posting the highest daily gain for the year, rallied for the sixth consecutive session today as John Keells Holdings (JKH) made up the highest turnover contribution.

The broad market All Share Price Index (ASPI) edged 56.06 points higher to stand at 5,653.43 points with a gain of 1.00 percent from the previous session, its highest daily gain so far this year. More liquid S&P SL20 Index meanwhile stood up 19.49 points to reach 2,757.06 points, an increase of 0.71 percent from the previous session.

Making up fifteen percent of the day’s turnover, John Keells Holdings (JKH) and Union Bank (UBC) witnessed off-board transactions today. With 15.1 mn shares trading in total, the market turnover reached LKR563.6 mn (USD3.2 mn), slightly short of the YTD average daily turnover of LKR639.0 mn (USD3.7 mn).

Trading 0.2 mn shares off-board at LKRLKR154.5 apiece, John Keells Holdings (JKH) contributed 61 percent to the day’s turnover, gaining 0.32 percent in value amid local buying. As a result, the sector of Diversified Holdings spearheaded the sectoral contribution to the turnover with 64 percent ahead of 18 percent generated from Banks, Finance and Insurance stocks.

Amid foreign outflow from John Keells Holdings (JKH) and Access Engineering (AEL), the market witnessed net foreign selling today as foreign investors sold shares worth a net LKR257.5 mn (USD1.5 mn), extending the YTD net foreign outflow to LKR5.7 bn (USD32.9 mn).

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