Colombo Stock Market has recovered strongly from the technical correction saw yesterday and the early part of today’s trading session. At the end of the Thursday’s trading, ASI was up by 52.83 points to close at 5,901.97 while MPI closed at 5,558.06, up 69.35 points. S&P SL 20 Index closed 27.97 points higher at 3,169.61. Turnover also healthy at Rs 941 million.
Despite heavy profit booking market managed to end the day in green showing bullish investor sentiment. AVIVA NDB Insurance Plc gained 27.20 to close at Rs 316.90 while Blue Chip John Keells Holdings Plc closed 1.40 higher at Rs 219.40. Haycarb Plc gone up by 15.80 to close at Rs 183.00. Heaycarb informed the CSE that it had bought a Thailand based activate carbon maker. In Banking sector, National Development Bank was up by 2.10 to close at Rs 130.00 while Nation Trust Bank Plc closed 1.90 higher at Rs 62.00. Hatton National Bank gained 1.50 to end the day at Rs 166.00.
Foreign purchases amounted to Rs 257,076,243 .00 whilst foreign sales amounted to Rs 181,270,594.00 resulting a net inflow. The CSE Bullish trend is likely to continue with time to time resistance due to profit booking. Overall market sentiment is still positive. However it is important to stick with fundamentally sound stocks rather than speculative ones.Tags: aviva, banking sector, bullish trend, cse, hatton national bank, investor sentiment, john keells holdings, market sentiment, profit booking, stock market, strong market