ASPI reaches all-time high | Daily News

ASPI reaches all-time high

Market gains momentum
Rs.10.49 Bn turnover recorded
Transport, Capital Goods lead surge

The Colombo Stock Exchange (CSE) benchmark All share Price Index (ASPI) reached an all-time high of 8,920.71 points yesterday surpassing the previous highest of 8,812.01 points recorded on January 27, 2021.

The ASPI surged 164.08 points (or 1.87%) to close at 8,920.71 while yesterday’s trading recorded a turnover of Rs.10.49 billion as against the 12-month average daily turnover of Rs. 3,527.5 million.

The volume traded for yesterday was 285,411.5 against the 12-month average daily volume of 194,780.1. The S&P SL20 Index also increased by 157.5 points (+4.9%) to close the day at 3,341.2.Expolanka (Rs.3.79 billion), Hayleys (Rs.1.11 billion) and LOLC Holdings (Rs.652.44) million made significant contributions yesterday. Transportation, Capital Goods, Diversified Financials and Food and Beverage sectors mostly contributed to the day’s turnover.

“We are pleased to highlight the significant market performance that the CSE has witnessed, including the benchmark All Share Price Index (ASPI) closing at 8,920.71 points yesterday, surpassing the previous highest level,” a senior official from Colombo Stock Exchange said.

“Market Capitalization, Market Turnover and the Active Retail Investor base has also been indicating promising growth. We are encouraged by the positive interest and market participation of all CSE stakeholders and we will continue our drive to lead the investor base by facilitating education and a robust market infrastructure.”

Meanwhile many other Stock brokers said the International Monetary Fund special allocation of over US$ 800 million to Sri Lanka and the successful vaccination drive were also among the key factors that contributed to this. “These factors have inspired confidence in investors.”

Head of Research Softlogic stock Brokers, Mahesh Udugampola said that the healthy earnings of the June Quarter by most of the corporates had grown significantly. The lower interest rates also saw keener interest to trade more in the Stock market.

“Despite the slight setback witnessed during the second half of the session on August 25, investors on the 26th were in a more positive mindset. The Index witnessed a sharp upswing with sizable volatility till mid-session and, thereafter a sideways movement as the index trimmed some of the early gains ahead of the closing at 8,921, gaining 164 points,” said Head of Research First Capital Dimantha Mathew.

“The transport sector, followed by Capital Goods dominated the turnover, accounting for a joint contribution of 52%.”

“Foreign investors remained net sellers amounting to a net foreign outflow of LKR 238 Mn. However, foreign participation during the day remained low. The Month-to-Date net foreign outflow increased to LKR 3.2 Bn whilst the Year-to-Date net foreign outflow rose to Rs. 38 billion.”

”The enthusiastic local appetite for logistics, exports and other Dollar earning stocks drove the market to reach its new highs yesterday,’’ another Stock Broker said. “People staying at home due to the Quarantine Curfew also led to more trading.”

The CSE is located at the World Trade Centre, Colombo and has been repeatedly recognised as one of the best performing bourses in the region.

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