Bourse rebounds after two days of losses

The Colombo Stock Exchange (CSE) rebounded yesterday after two days of losses, with the benchmark All Share Price Index (ASPI) increasing by 2.81 percent or 119.30 points to close at 4,367.25 points while the S&P SL20 index also increased by 2.59 percent or 43.70 points to close at 1,729.15.

The market turnover decreased by 73.2 percent, compared to Tuesday, to Rs.98 billion while the turnover of Commercial Bank, JKH and Lion Brewery shares accounted for 43 percent of the day’s total turnover.

According to NDB Securities, high-net-worth and institutional investor participation was noted in John Keells Holdings, Commercial Bank, Lion Brewery and Ceylon Tobacco Company.

They added that retail interest was noted in Expolanka Holdings, Tokyo Cement Company and Browns Investments.

Foreign investors recorded a net outflow of Rs.329.5 million over the day, accounting for 68 percent of the turnover, compared to a net outflow of Rs.114.3 million recorded on Tuesday.  

The market capitalisation gained by Rs.55.5 billion to Rs.2.03 trillion.