Colombo equity market flourished with higher returns on Thursday for the seventh consecutive day in a row, boosting the All Share Index up more than 290.24 points so far for the month.  Main bourse advanced notably by 55.02 points (+0.83%) to close at 6,668.86 while S&P SL 20 advanced by 29.08 points (+0.78%) to close at 3,735.14. Positive price appreciations in primary blue chips such as Ceylon Tobacco (closed at LKR 1,100.00,+3.1%), Lion Brewery (closed at LKR 575.00, +8.5%) and Carson Cumberbatch (closed at LKR 430.00,+3.1%) affected for the index performance.

Daily market turnover was LKR 2.4bn. John Keells Holdings positioned top at the turnover list with LKR 594mn followed by Nestle Lanka (LKR 235mn) and Commercial bank (LKR 194mn). Several negotiated deals were recorded in Nestle Lanka (0.1mn shares at LKR 2,100.00 per shares), John Keells Holdings (0.7mn shares at LKR 240.00 per share), Commercial Bank (1.1mn shares at LKR 149.00 per share), Colombo Fort Land & Building (1.6mn shares at LKR 31.50 per share), DFCC Bank (0.3mn shares at LKR 162.50 per share) and Hayleys (0.1mn shares at LKR 300.00 per share. Crossings accounted for 27% of the total market turnover.

Gainers offset losers 138 to 88, while 55 counters remained unchanged. Cash map marginally improved to 56% from 54%. 33 equities reached 52wk high price levels.

Foreign investors were net buyers with net inflow of LKR 350mn worth of equities. Foreign participation was 29%. Net foreign inflows were seen in Commercial Bank (LKR 170mn), John Keells Holdings (LKR 91mn) and Hatton National Bank (LKR 42mn) while net foreign outflow was mainly seen in DFCC Bank (LKR 44mn).

CT Land Development declared a final dividend of LKR 1.50 per share during the trading session and managed to close with higher returns. Counter closed at LKR 35.50, +1.4%.

Lanka Securities Research