Colombo bourse recovered strongly today with the price appreciations in index heavy high dividend payers and due to the lifting of 10% price band regulation. ASI shot up by 111.25 points (+2.06%) to close at 5,518.72 while sensitive MPI ended at 4,939.80 with a gain of 32.65 index points (+0.67%).
Daily market turnover stood at LKR 359.3mn. No Crossings were recorded during the day.
Premier conglomerate John Keells Holdings (LKR 61.6mn) was the top contributor to the market turnover followed by banking sector stocks such as Commercial Bank (LKR 56.1mn), Hatton National Bank – non voting (LKR 12.6mn) and Commercial Bank non-voting (LKR 12.0mn). Commercial Bank closed at LKR 105.90, up LKR 4.10. Hatton National Bank closed at LKR 160.00, up LKR 5.00.
Commercial bank (voting) turned out to be the heavily traded stock during the day. Apart from that Environment Resources, Softlogic Capital and Touchwood Investments were among the mostly traded stocks.
Foreign participation calculated at 30.0% of the total market activity and at the end of the day foreign investors were the net buyers with a net foreign inflow of LKR 49.2mn
Even though the low volumes were recorded, strong price appreciations in high dividend payers such as Ceylon Tobacco (by LKR 93.50) and Nestle Lanka (by LKR 30.00) contributed positively to the market performances.