Colombo Bourse rebounds on retail buying

The Colombo Bourse ended higher, with the ASPI gaining 120 points to close at 21,539, while the S&P SL20 rose 32 points to 6,032.

The market recorded average turnover, with high retail participation despite relatively low participation from high-net-worth investors. The decline in Treasury bill rates and positive results from selected banks supported buying interest during the session.

"DIAL, CARG, DFCC, NDB and AEL were the main positive contributors to the ASPI," First Capital Research said.

Daily turnover stood at Rs. 2.8 Bn, broadly in line with the monthly average. The Banking sector led daily turnover with a 38% share, followed by the Capital Goods and Materials sectors, which collectively contributed 30%.

Foreign investors turned net sellers, recording a net outflow of Rs. 624.5 Mn. SAMP, TKYO.X and DIST recorded the highest foreign outflows, while the largest foreign inflows were attracted by DIPD, AAIC and HAYC.

SAMP dominated overall turnover with Rs. 829.1 Mn, accounting for 29.9%, followed by SIRA with Rs. 280.9 Mn, or 10.1%, worth of shares traded during the session.

In terms of volume, SIRA recorded the highest trading activity, with 8.5 Mn shares traded, accounting for 11.1%, while JKH accounted for 6.9 Mn shares, or 8.9%.

Overall market volume increased by 43.0% to 76.7 Mn shares.