Business

Stock exchange ends week on a high

The Colombo bourse edged up by +55 points on Thursday and Friday, snapping a losing streak of ten straight sessions boosted by active local institutional activity.

Some foreign investor interest was evident on Commercial Bank while local investor appetite centered on Dialog Axiata, Seylan Bank (non-voting), East West Properties, and Sampath Bank. Additionally, mixed investor interest remained on John Keells Holdings. Moreover, the foreigners concluded the weekly proceedings as net sellers recording an outflow of Rs. 1,321.2 million ($ 7,513.2k).

Meanwhile, the average weekly turnover stood at Rs. 616.9 million ($ 3,508.0k) where average weekly volume stood at 23,625.0k shares. However, owing to the steep drops seen during the first three trading sessions of the week, ASPI plunged by 68.0 points WoW to end the week at 5,259.7 (-1.3% WoW) while the S&P SL20 Index too weakened by 72.2 points WoW to close at 2,446.9 (-2.9% WoW).

Meanwhile, Nations Trust Bank (non-voting) recorded its 52-week high price point while Access Engineering, Hayleys, Sampath Bank, Hemas Holdings, United Motors, and Commercial Bank touched their 52-week low price points during the week. Further, SMB Leasing (non-voting) and Lankem Developments were amongst the most actively traded counters for the week.