Thu, 30 Mar 2023 Today's Paper

Stocks hit new all-time high; ASPI crosses 8,000-point mark


22 January 2021 09:14 am - 0     - {{hitsCtrl.values.hits}}



  • Highest point mark for ASPI in CSE’s 35-year history 
  • Turnover hits Rs.14.2bn; records third highest number of trades for a day
  • Over dozen Hayleys group companies announce share splits
  • Foreign investors continue to be net sellers despite local investor bullishness 

Sri Lanka’s stocks yesterday hit fresh highs with benchmark All Share Price Index (ASPI) crossing the 8,000-point mark for first time in Colombo Stock Exchange’s (CSE) 35-year history amid more than dozen Hayleys group companies announcing share splits.

Despite an early dip in intraday trading, the ASPI yesterday closed at 8, 231.25 points, gaining 246.80 points (third highest points in a day) or 3.13 percent. The more liquid S&P SL 20 Index also continued its upward trend above the 3, 000-point mark to close at 3, 196.73 point, up by 100.39 points or 3.24 percent.

The turnover for the day was Rs.14.2 billion, the highest recorded in over a year. The record for higher number of trades in a single day was renewed again yesterday with 67, 831 trades. 
Significant price gains in stocks of some Hayleys group companies, which announced share splits, including Hayleys PLC, Haycarb, Hayleys Fibre and Dipped Products, contributed to the ASPI gain.

Kigsbury PLC, Unisyst Engineering, Hayleys Fibre, Amaya Leisure, Kelani Valley Plantation, Hayleys Fabric, Talawakelle Tea Estate, Singer Industries (Ceylon), Haycarb, Singer Sri Lanka, Regnis Sri Lanka, Alumex, Dipped Products and Hayleys PLC announced 
share splits.

A share split does not essentially have a positive impact on the book value of a company, but lower share prices and increased number of shares can make the shares of a company more liquid. 

According to NDB Securities, ASPI closed in green as a result of the price gains in counters such as LOLC Holdings, Hayleys, Vallibel One.

“High net worth and institutional investor participation was noted in Sampath Bank, Hatton National Bank nonvoting and Dipped Products.

 Mixed interest was observed in John Keells Holdings, LOLC Holdings and Browns Investments, whilst retail interest was noted in Hayleys, Vallibel One and Hayleys Fabric,” NDB Securities said.

Despite local investors bullishness, foreigners continued to be net sellers on the CSE. Last year they net sold over Rs.50 billion.



  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Import of South Indian eggs: Sri Lanka walks on Indian eggshells

With the increase in egg prices the government decided to import eggs to regu

Wokeism: Is it destructive, or are you afraid of change? A response

In order to critically discuss a movement, we must first understand its etymo

Defeat in Ananthapuram Battle denoted the LTTE’s end

Many battles were fought during the long war between the Sri Lankan armed for

Wokeism: A Weapon of Mass Destruction?

When can one say they’ve had enough of being in a state of ‘wokeness’ a