CSE begins new week on the up

THE Colombo stock market yesterday opened the week on the up with plantation stocks driving turnover and the bourse extending its bullish run for more than a week.

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The benchmark ASPI closed 0.36% higher on yesterday, up 77.31 points to 21,676.20 while the active S&P SL20 closed 0.13% higher, up 7.64 points to 6,119.21.

Turnover was Rs. 4.2 billion on more than 131.6 million shares traded. Foreigners were net sellers yesterday with a net outflow of Rs. 15.6 million, down from a Rs. 155 million outflow on Friday.

First Capital Research said that the Colombo Bourse kicked off the week on a positive note, marked by a wave of bullish sentiment. The ASPI posted a gain of 77 points and closed at 21,676, strengthened by plantation sector counters and conglomerates.

CARS, MELS, JKH, NAMU and WATA were the top positive contributors to the index. Moderate retail participation was chiefly observed on Plantation sector counters, whereas HNW participation was lower during the session.