The Colombo bourse retained the investor confidence for the third consecutive day to close the holiday-shortened trading week on a positive note as many fundamentally stable stocks in banking, telecom, apparel and manufacturing sectors recorded notable quarterly profit growths. Thus, ASPI increased by 66.5 points (+0.9%) to close at 7,228.2, while the S&P SL20 Index also increased by 19.1 points (+0.7%) to close at 2,869.5.
Moreover, Nestle, Ceylon Tobacco, Browns Investments, LOLC Holdings and Chevron Lubricants remained as the top positive contributors to the ASPI during the day. Meanwhile, today’s total turnover stood at LKR 1,279.2 mn (USD6,403.6k) vs. 12-month average daily turnover of LKR 3,021.5 mn (USD15,124.9k) whilst the volume traded for the day was 61,404.6k against the 12-month average daily volume of 167,641.9k.
Top traded counters for the day were Browns Investments LKR 183.5 mn, Hayleys Fabric LKR 113.7 mn, Chevron Lubricants LKR 89.8 mn, Royal Ceramics LKR 76.3 mn and Dipped Products LKR 65.2 mn.
Foreigners continued to be net sellers offloading LKR 35.8 mn during the day, where foreign purchases stood at LKR 95.4 mn enticed by Cargills (Ceylon), Windforce and HNB (Non-Voting). Total foreign sales amounted to LKR 131.1 mn, mainly seen in Nestle Lanka, Teejay Lanka and Ceylinco Insurance (Non-Voting).
Furthermore, Interim results of Lanka Hospitals (LHCL) was released where profits in 1Q2021 grew by +381% YoY to LKR 747 mn. Conversely, Talawakelle Tea Estate (TPL) declared its final dividend of LKR 1.5 yesterday.
(Softlogic Stock Brokers)
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