Colombo...

The ASPI surged at the open, dipped through midsession, then rebounded with steady gains to close in the green.

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The index ended the day up 106 points at 17,500. HAYL, CINS, CCS, HNB, and CTC were the key positive drivers of the index.

Retail investors remained reasonably active, whilst HNW investors experienced a muted session, with selective interest mainly towards Banking sector counters such as PABC, NTB, and SAMP.

Turnover reached Rs. 2.9 billion, marking a decrease of 39% relative to the monthly average of Rs. 4.7 billion. The Banking sector led yesterday’s turnover, contributing 19%, followed by the Diversified Financials and Materials sectors jointly accounting for 32%.

Asia Securities said the ASPI closed at 17,500.24, up 105.79 points (+0.61%), while the more liquid S&P SL20 index closed at 5,208.95, up 33 points (+0.64%). Turnover was recorded at Rs. 2.85 billion and the Banks, Diversified Financials, Materials, and Capital Goods sectors led activity, collectively accounting for 65.7% of turnover.

Foreigners recorded a net outflow of Rs. 19.3 million, while their participation declined to 3.4% of turnover (previous day 3.4%). Net foreign buying topped in DIAL at Rs. 59.3 million, while net foreign selling topped in KHLN at Rs. 20 million.

Crossings accounted for 6.9% of turnover led by NTBN (Rs. 47.3 million) and MGTN (Rs. 43.8 million).

Market P/E was 8.61.