By Madhusha Thavapalakumar
If I have to put the Colombo Stock Exchange (CSE) performance of last week in a few words, it would not be incorrect to say that it was on an all-time-high record-breaking spree, and needless to say, investors were delighted.
Monday (27 September), the stock market was off to a great start, with the All Share Price Index (ASPI) gaining 329.54 points to close at 9,269.65, with a Rs. 6.77 billion day’s turnover.
The ASPI surpassed the 9,000 mark to close at 9,335.98 on 2 September. However, it had a bumpy ride after that, and until last week, did not exceed the record set on that day.
The following days kept breaking and re-breaking the all-time-high records of the ASPI.
CSE broke the all-time high records for the second time last month; with Tuesday’s (28 September) index closing at 9,339.28 by the end of trading. The ASPI earned 69.93 points, recording a gain of 0.75% from the previous close. The turnover was Rs. 6.66 billion. Galadari Hotels, HNB Finance, and Muller and Phipps were the top three gainers of the day. Commercial Leasing and Finance, LOLC Finance, Expolanka Holdings, and Browns Investments were the top four most active trades of the day.
CSE’s performance has been somewhat impressive, according to investors on social media, regardless of the lockdown. In fact, the CSE was on a record-breaking spree for a couple of weeks since the first market day under said lockdown.
“The Index kicked off on a positive note, reaching an intraday high of 9,453 during the first few minutes of trading, however, the optimism was soon overshadowed by low investor spirits sparking a sell-off, dragging the market down to an intraday low of 9,268 by mid-day. Nevertheless, the index managed to end the day in the positive territory as a buying spree emerged towards the end erasing most of the losses, before closing at 9,339,” First Capital said, regarding Tuesday’s performance.
Investors were predicting a further gain the following day, and it happened. CSE broke the all-time high records for the third time within the last month, and in two consecutive days, by gaining a further 102.03 points to close at 9,434 on Wednesday (29 September). The turnover, however, was Rs. 5.9 billion, less than the day before. The top gainers were Jetwing Symphony, Tess Agro, Blue Diamonds Jewellery Worldwide, and Palm Garden Hotels. Most active trades were Browns Investments, Expolanka Holdings, LOLC Holdings and LOLC Finance.
“Index started trading on an upbeat note, gaining 82 points, followed by slight volatility within the first few minutes of the session. Subsequently, with a sharp upswing, the index reached an intraday high of 9,448, and displayed a steady phase before closing at 9,434,” First Capital added on Wednesday.
As expected by investors, it gained even further the next day, Thursday (30 September), when the ASPI gained by a further 26.17 points to close at 9,459.54. The turnover was Rs. 6.9 billion, an improvement from Wednesday. Top gainers were E.M.L. Consultants – a newcomer to the CSE – along with Marawila Resorts and Beruwala Resorts. The most active trades were Expolanka Holdings, Ambeon Capital, and Browns Investments.
CSE Highs and Lows
03 Oct 2021
CSE Highs and Lows
03 Oct 2021