ASPI crosses 6,000-point mark; foreign selling continues

„Index gains supported by price gains in Carson and Bukit Darah

The main All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) yesterday crossed the 6,000-point psychological threshold, amid aggressive play on a couple of illiquid stocks, which have limited public free float.

The ASPI gained 169.16 points or 2.89 percent, to close at 6,028.20, crossing the 6,000-point mark since January 7, this year. The more liquid S&P SL20 gained 13.64 points or 0.55 percent, to close at 2,495.72.

The day’s turnover topped Rs.1.89 billion

The main contributors to the ASPI’S gain were the shares of Carson Cumberbatch PLC and Bukit Darah PLC.

Carson share contributed 49.25 points to the ASPI, with the share closing 42.63 percent or Rs.109 up, at Rs.364.70 while Bukit Darah share contributed 69.87 points to the ASPI, with the share closing 69.87 percent or Rs.208 up, at Rs.505.70.

“The ASPI closed in green, as a result of the price gains in counters such as Carson Cumberbatch, Bukit Darah and Nestle Lanka, with the turnover crossing Rs.1.8 billion,”

NDB Stockbrokers (NDBS) said.

During last week, the ASPI gained 2.42 percent while S&P SL20 lost 1.21 percent.

NDBS also said high-networth and institutional investor participation was noted in Hemas Holdings and Hatton National Bank.

“Mixed interest was observed in Expolanka Holdings, Tokyo Cement Company and Hayleys Fabric, whilst retail interest was noted in Richard Pieris & Company, Ceylon Investment and Dankotuwa Porcelain,” NDBS said.

Meanwhile, foreign participation in market activity remained at subdued levels, with foreigners closing as net sellers. According to Asia Securities, foreign investors were net sellers of shares worth of Rs.79.42 million while their participation in terms of turnover decreased significantly to 4.1 percent, compared to 21.2 percent previously.

Asia Securities said the estimated net foreign buying topped in Commercial Bank, at Rs.10 million while the estimated net selling topped in Industrial Asphalts (Ceylon) Ltd, at Rs.26.2 million.

Retail activity was witnessed in counters such Expolanka, Dipped Products and Sanasa Development Bank.