Colombo equities started a fresh week on Monday with positive returns after two consecutive days of losses. All share price index gained 7.89 points or 0.13% to end at 6,287.03 and S&P SL 20 index marginally gained 0.52 points or 0.01% to end at 3,479.69. Price appreciation in Sri Lanka Telecom (closed at LKR 47.90, +2.6%), Selinsing (closed at LKR 1,800.00, +12.4%) and Cargills (closed at LKR 145.00, +1.8%) contributed favorably to the index performance.

Cash map declined to 61% from 65%.

Daily market turnover reached LKR 1.4bn with the support of several crossings recorded in John Keells Holdings (3mn shares at LKR 235.00 per share), Ceylon Theatres (0.5mn shares at LKR 140.00 per share) and Aitken Spence (0.4mn shares at LKR 97.50 per share). Aggregate value of crossings represented 58% of the total market turnover.  John Keells Holdings (LKR 759mn) emerged as the top contributor to the market turnover followed by Expolanka (LKR 91mn) and Ceylon Theatres (LKR 69mn).

Meanwhile MGT Knitting Milles, The Finance non-voting and ACME Printing were among heavily traded stocks.

Foreign investors were net buyers with net inflow of LKR 925mn. Foreign participation was 40%. Foreign inflows were seen in John Keells Holdings (LKR 715mn), Ceylon Theatres (LKR 69mn) and Royal Ceramics (LKR 63mn) while outflow was mainly seen in Lanka IOC (LKR 19mn).

Meanwhile, 449mn ordinary voting shares of Adam Investments Limited will be listed on the Diri Savi Board of the CSE tomorrow (10^th June 2014).

Lanka Securities Research