Colombo bourse started its weekly operations in a positive note where both indices witnessed higher returns. ASI gained 6.88 index points or 0.11% to end at 6,344.10 while 20-scrip S&P SL index gained 15.64 index points or 0.45% to close at 3,520.67. Price appreciations in counters such as Commercial Bank (closed at LKR 135.00, +0.9%), Chevron Lubricants (closed at LKR 287.90, +2.7%) and Carson Cumberbatch (closed at LKR 406.00, +1.0%) contributed favorably to the index performance.

Daily market turnover reached LKR 957mn with the support of several crossings recorded in counters such as Softlogic Holdings (11.02mn shares at LKR 13.50), Amana Bank (9.21mn shares at LKR 6.30), Commercial Bank (0.50mn shares at LKR 135.00), Hatton National Bank (0.15mn shares at LKR 157.00) & John Keells Holdings (0.10mn shares at LKR 234.00).

Accordingly Softlogic Holdings emerged as the top contributor to the turnover with LKR 185mn followed by National Development Bank (LKR 114mn) & Commercial Bank (LKR 92mn) respectively.

Gainers offset losers 122 to 80, while 60 equities remained unchanged. Cash map declined to 58% from 69%. 25 counters managed to reach 52wk high price levels while 3 counters touched 52wk low prices.

Moreover, The Finance non-voting, Softlogic Holdings and Lanka IOC attracted heavy investor participation during the trading session.

Foreign investors were net buyers with net inflow of LKR 199mn. Foreign participation was 16% for the day. Foreign inflows were seen counters such as Commercial Bank (LKR 87mn), National Development Bank (LKR 42mn), Fort Land (LKR 13mn) while foreign outflow was mainly seen in Softlogic Holdings (LKR 5mn).

Meanwhile, as per the Government Statistic Department, Sri Lanka’s GDP grew by 7.6% in the first quarter. Industry sector increased by 12.6% while services sector improved by 6.5%. Agriculture sector witnessed marginal increase of 0.2%.

Lanka Securities Research