With a new ASPI benchmark of 21,000+ points, CSE launches in September

heavy turnover and foreign selling, the benchmark index of the Colombo stock market reached a new benchmark of 21,000+ points yesterday, marking the start of the month of September.

The ASPI closed at 21,062 points, an all-time high, up 65 points. On the other hand, the active S&P SL20 fell more than five points. 533.5 million shares were involved in the Rs. 13.2 billion turnover.

With 237.3 million shares, top blue-chip JKH generated a turnover of Rs. 5.5 billion, followed by Commercial Bank with Rs. 1.4 billion and 7.4 million shares, and Prime Lands Residencies with Rs. 504 million and 18.8 million shares.

The ASPI is up 32% year-to-date (YTD), the S&P SL20 is up 24.87%, and the Colombo Stock Exchange (CSE) closed August with a gain of more than 7%.

According to First Capital, the ASPI’s rising trend was mostly driven by the Capital Goods sector, with conglomerates making significant contributions. RIL, CARG, MELS, DIMO, and CFIN were the index’s top contributors. The session saw a significant level of engagement from both retail and high-net-worth investors. The turnover rate exceeded the monthly average by 102%. The banking and real estate industries combined contributed 22% of the day’s total turnover, while the capital goods industry led turnover contributions with a 49% share. Foreign investors remained net sellers, recording a net outflow of Rs. 1 billion.

High net worth and institutional investor involvement were observed at John Keells Holdings, Commercial Bank, and C T Holdings, according to NDB Securities. Retail interest was shown in Tess Agro, SMB Leasing, and Muller & Phipps, while mixed interest was seen in Prime Lands Residencies, RIL Property, and Sierra Cables.

Because to John Keells Holdings, the Capital Goods sector contributed the most to the market turnover, while the sector index saw a 0.51% decline. John Keells Holdings’ share price dropped by Rs. 0.30 to Rs. 23.

Due to Commercial Bank, the banking industry contributed the second-highest amount to market turnover, but the sector index decreased by 0.10%. At Rs. 197.75, the share price of Commercial Bank closed unchanged.

Among the leading contributors to turnover were Prime Lands Residencies, C T Holdings, and RIL Property. Prime Lands Residencies’ stock price increased by Rs. 3 to Rs. 28. C T Holdings’ share price increased by 0.25 to 702 rupees. RIL Property’s share price increased from Rs. 1.90 to Rs. 30.90.