S&P SL20 gains ~2% following CBSL stimulus measures

The ASPI closed in green as a result of price gains in counters such as Cargills , Dialog Axiata and John Keells Holdings with the turnover crossing Rs 2.1 Bn. A similar behavior was also witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Commercial Bank, John Keells Holdings and Hemas Holdings. Mixed interest was observed in Hatton National Bank and LOLC Holdings, whilst retail interest was noted in Access Engineering, First Capital Holdings and Tokyo Cement Company.

Furthermore, foreigners remained active closing as net sellers. The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Hatton National Bank nonvoting and Hatton National Bank) whilst the sector index gained 2.40%. The share price of Commercial Bank increased by Rs 1.10 (1.60%) to close at Rs 69.90. The share price of Hatton National Bank nonvoting gained Rs 5.20 (6.93%) to close at Rs 80.20 whilst the share price of Hatton National Bank appreciated by Rs 4.30 (4.28%) to close at Rs 104.80.

Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings) whilst the sector index increased by 1.30%. The share price of Hemas Holdings moved down by Rs 0.20 (0.33%) to close at Rs 59.80.

LOLC Holdings was also included amongst the top turnover contributors. The share price of LOLC Holdings recorded a gain of Rs 2.30 (1.92%) to close at Rs 122.00.