Colombo bourse All Share Price Index witnessed an upward trend throughout the trading session reaching fresh highs whilst S& P SL20 Index concluded in the red. Thus, the All Share Price Index increased by 163.8 points (+1.6%) to close at 10,686.4 whilst S& P SL20 Index declined by 7.0 points (-0.2%) to close at 3,625.4.
Commercial Leasing & Finance, LOLC Finance, LOLC Holdings, Browns Investments and LOLC Development and Finance remained as the top positive contributors to the ASPI during the day. Further, the broader market’s total turnover stood at Rs.6,883. mn against the 12-month average daily turnover of Rs.4,241.0 mn, whilst the volume traded for the day was 347,530.1k against the 12-month average daily volume of 218,839.2k. Capital Goods, Materials, Diversified Financials and Food and Beverage sectors mostly contributed to yesterday’s turnover.
The top turnover generators for yesterday were LOLC Finance Rs.1,909.8 mn (+23.4%), Browns investments Rs.539.9 mn (+2.6%), Shaw Wallace Investments Rs.519.9 mn (+10.9%), Expolanka Holdings Rs.305.1 mn (-1.5%) and LOLC Holdings Rs.296.4 mn (+3.5%). Foreigners recorded an outflow of Rs.10.4 mn during the day. Foreign purchases stood at Rs.74.8 mn which were approximately witnessed in Bairaha Farms, LOLC Finance, Hatton National Bank, Colombo Fort Land and Central Industries whilst total foreign sales amounted to Rs.85.1 mn, assumed to be seen LOLC Holdings, Nestle Lanka, Bukit Darah, Lanka Milk Foods and Watawala Plantations. Further, off-board transactions were witnessed in Renuka Holdings (Rs.80.0 mn), Sampath Bank (Rs.27.5 mn) and Aitken Spence Hotel Holdings (Rs.40. mn) yesterday.
Additionally, LOLC Finance, Renuka Foods, Renuka Holdings, Tess Agro (Voting) and Namunukula Plantations were the top price gainers yesterday whilst SMB Leasing (Non-Voting), Blue Diamonds, Pan Asia Power, E-Channelling and Piramal Glass were the top price losers. Further, LOLC Finance, Browns Investments, LOLC Finance, Shaw Wallace Investments, Kotagala Plantations and Renuka Agri Foods were amongst the most actively traded stocks yesterday.
Further, Sunshine Holdings (SUN) announced the first interim dividend of Rs.0.50 for FY22. Meanwhile, interim results of Haycarb (HAYC) reported for 2QFY22, revenue grew by a healthy 19% YoY to touch Rs 7.5 Bn mainly due to the focus on high margin products such as EDLC carbons. Despite this growth, the raw-material cost spike continued to serve as a dampener on margins and profitability. Nations Trust Bank (NTB) earnings up 26% owing to lower impairments and tax reversals. Sunshine Holdings (SUN) earnings up 68% to Rs.645 mn.
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