Blue Chips attract more foreign buying

The Colombo stock market remained in the green until the later part of the trading hours while Blue chips JKH and CTC saw foreign interest, NDB Stockbrokers said. The ASI dipped by 0.2% and the MPI by 0.3%.

Arrenga Capital said the market recorded a net foreign inflow of Rs. 219.6 million indicating that the foreigners are silently accumulating on counters with attractive valuations, which would re-rate to an even better position with the encouraging earnings growth.

NDBS said ACME witnessed speculative trading retain it at the top of the list of contributors with Rs. 386 million to market turnover of Rs. 1.33 billion. Slightly over 12 million shares of ACME were transacted via 3,565 trades. Slightly over 12 million shares of ACME were transacted via 3,565 trades. It gained by 13% or Rs. 3.80 to close at Rs. 33.50.
Manufacturing sector was the highest contributor to the market turnover (due to ACME Printing) and the sector index decreased 0.01%.
Diversified sector became the second highest contributor to the market turnover (due to John Keells Holdings) and the sector index retreated 0.12%. The share price of John Keells Holdings gained Rs 0.70 (0.41%) to close at Rs. 170.00. Foreign holdings of JKH increased by 748,956 shares.
Ceylon Tobacco Company also contributed to the market turnover today and its’ price increased by Rs. 8.50 (1.74%) to close at Rs 499.00 with its foreign holdings increasing by 135,000 shares.

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