Colombo Bourse managed to regain lost ground on Thursday, with a comparatively active trading session. Bench mark All share price index gained 41.65 points (+ 0.7%) to closed at a five week high of 5,992.62 and S&P SL 20 index gained 13.10 points (+0.4%) to closed at 3,274.15. Price appreciation in counters such as John Keells Holdings (closed at LKR 222.00, +1.8%), Sri Lanka Telecom (closed at LKR 47.40, + 6.3%) and Asiri Hospitals (closed at LKR 21.10, +5.5%) contributed positively to the index performances.

Cash map improved to 60% from 35%. Gainers outweighed the losers 127 to 50, while 68 counters remained unchanged.

Daily market turnover reached nearly six week high of LKR 1.6bn underpinned by negotiated deals (6.9mn shares at LKR 180.00) recorded in National Development Bank. Crossings represented 77% of the total market turnover. Accordingly, National Development Bank topped the turnover list (LKR 1.2bn) followed by John Keells Holdings (LKR 70mn) and Seylan Bank (LKR 33mn).

Further, The Finance non-voting, Union Bank and Expo Lanka were among mostly traded stocks in today’s trading session.

Foreign investors were net buyers with a net inflow of LKR 40mn. Foreign participation was 6%.  Net Foreign inflows were seen in John Keells Holdings (LKR 37.1mn), National Development Bank (LKR 6.6mn) and Bairaha Farms (LKR 4.1mn) whilst net outflow was mainly seen in The Finance non-voting (LKR 4.9mn)

Moreover, shares of Bansei Resorts, which was listed by way of introduction, commenced trading today and closed at LKR 15.00, 168% above the reference price of LKR 5.60.

Meanwhile, Waskaduwa Beach Resorts today announced that the 150 room beach resort will be opened on 6^th April 2014. The share closed at LKR 7.50,+2.7%.

Furthermore, Commercial Development announced dates relating to its final dividend of LKR 2.00 per share and share closed higher at LKR 76.80 (+7%).

Lanka Securities Research