CSE Unphased By Political And Economic Concerns 
Posted 16,December

By Chaveendra Dunuwille

In Local News

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Despite the political and economic concerns plaguing Sri Lanka, the Colombo Stock Exchange continued its resilient and bullish run, with the ASPI and S&P SL20 average turnover increasing by 1%. 

Amidst a market capitalization of LKR 737 billion, the All Share Price Index (ASPI) increased by 134 points (1.5%), and the S&P SL20 Index increased by 55 points (1.3%). The market capitalization resulted from a turnover of LKR 8.5 billion via the exchange of 533.7 million shares. 

The last four consecutive sessions saw the ASPI gain 776 points and record a 74% increase year to date. At the same time, the more fluid S&P SL20 gained 289 points and reached the 60% return point. The ASPI reached its all-time high of 11,844 points and closed at 11,797 points. On the other hand, the S&P SL20 surpassed the 4200 mark to reach a record high of 4249 points. 

Foreigners recorded a net inflow of LKR 5.8 billion despite a 1.4% decline in participation. The Net Foreign Buying was topped by WIND with LKR 18.8 million, and the Net Foreign Selling was headed by HHL with LKR 18.7 million. According to Asia Securities, 103 stocks ended in the Green while 109 settled at price losses. 

The performance of ACL Cables and Haleys’ stock allowed the Capital Good Sector to be the top contributor in market turnover. While the sector index recorded a 1.68% increase, the ACL Cable share price increased by LKR 9.30 to close at LKR 105.50. At the same time, Haleys’ share price increased by LKR 2.75 to close at LKR 118. 

The Transport Sector became the second-highest contributor primarily due to the performance of the Expo Lanka share. As the sector index grew by 7.63%, Expo Lanka continued its exceptional performance. The Expo Lanka share price reached an intra-day high of LKR 382 only to settle at LKR 377, contributing 117 points with a turnover of LKR 1.857 billion.