Positive momentum continues

The ASPI closed in green as a result of price gains in counters such as Colombo Dockyard, Ceylinco Holdings and Commercial Bank with the turnover crossing Rs. 3.8 bn. 

A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Hatton National Bank, ACL Cables and Tokyo Cement Company. Mixed interest was observed in Tokyo Cement Company nonvoting, Colombo Dockyard and Laugfs Gas whilst retail interest was noted in Hikkaduwa Beach Resort, Co-Operative Insurance Company and LOLC Finance. 

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers. The Capital Goods sector was the top contributor to the market turnover (due to ACL Cables, Colombo Dockyard and Sierra Cables) whilst the sector index gained 2.46%. 

The share price of ACL Cables gained Rs. 13.25 (5.43%) to close at Rs. 257.25. The share price of Colombo Dockyard moved up by Rs. 34.75 (24.96%) to close at Rs. 174.00. The share price of Sierra Cables appreciated by Rs. 1.90 (5.99%) to close at Rs. 33.60. 

Materials sector was the second highest contributor to the market turnover (due to Tokyo Cement Company nonvoting) whilst the sector index increased by 1.88%. The share price of Tokyo Cement Company nonvoting increased by Rs. 2.30 (2.88%) to close at Rs. 82.10. Laugfs Gas was also included amongst the top turnover contributors. The share price of Laugfs Gas recorded a gain of Rs. 3.10 (5.18%) to close at Rs. 63.00.