Year begins on a positive note

The ASPI closed in green as a result of price gains in counters such as ACL Cables, Commercial Bank and Access Engineering with the turnover crossing Rs. 5.1 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Royal Ceramics, Aitken Spence and Melstacorp. Mixed interest was observed in ACL Cables, Sierra Cables and Kelani Cables whilst retail interest was noted in Co-Operative Insurance Company, SMB Leasing and Browns Investments. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

During the week, the ASPI and the S&P SL20 gained 3.6% and 2.4% respectively, whilst recording an average daily turnover of Rs.4.24 Bn.

Capital Goods sector was the top contributor to the market turnover (due to ACL Cables, Sierra Cables, Kelani Cables and Royal Ceramics) whilst the sector index gained 0.87%. The share price of ACL Cables increased by Rs 9.30 (10.36%) to close at Rs 99.10. The share price of Sierra Cables gained Rs 1.90 (5.38%) to close at Rs 37.20. The share price of Kelani Cables moved up by Rs 17.00 (13.36%) to close at Rs 144.25. The share price of Royal Ceramics recorded a gain of Rs 1.50 (3.26%) to close at Rs 47.50.

Materials sector was the second highest contributor to the market turnover whilst the sector index increased by 1.95%. 

Laugfs Gas was also included amongst the top turnover contributors. The share price of Laugfs Gas appreciated by Rs 3.10 (4.32%) to close at Rs 74.80.