Colombo equity market witnessed negative returns for the second consecutive day. ASI marginally declined by 4.41 index points or 0.07% to end at 6,313.20 while 20 scrip S&P SL index declined by 8.82 index points or 0.25% to close at 3,490.67. Price depreciations in counters such as John Keells Holdings (closed at LKR 221.00, -2.7%), Ceylon Tobacco (closed at LKR 990.00, -0.5%) and Hayleys (closed at LKR 292.20, -2.3%) contributed adversely to the index performance.

Daily market turnover was LKR 684mn. John Keells Holdings emerged as the top contributor for turnover with LKR 180mn followed by Commercial Bank (LKR 151mn) & John Keells Holdings warrant 0023 (LKR 44mn). Crossings were recorded in counters such as John Keells Holdings (0.45mn shares at LKR 225.00-233.20), Commercial Bank (0.35mn shares at LKR 135.00) and Kelani Tyre (0.32mn shares at LKR 63.00). Aggregate value of crossings represented 25% of the total market turnover.

Losers offset gainers 117 to 83, while 57 counters remained unchanged. Cash map improved to 56% from 51%. 9 counters managed reach 52wk high prices while 3 equities touched 52wk low price levels.

Moreover, John Keells Holdings, The Finance non-voting and John Keells Holdings warrant 0023 attracted heavy investor preference during the session.

Foreign investors were net buyers with net inflow of LKR 105mn worth equities. Foreign participation was 29%. Foreign inflows were seen in counters such as Commercial Bank (LKR 95mn), Tokyo Cement (LKR 5mn) John Keells Holdings warrant 0023 (LKR 5mn) while outflow was mainly seen John Keells Holdings (LKR 34mn).

Lanka Securities Research