Colombo shares regained the lost ground on Thursday as both indices closed with positive returns. Main index gained 6.85 points (+0.10%) to end at 6,991.76 whereas S&P SL 20 index marginally gained 3.04 points (+0.08%) to end at 3,845.87. Price progression in counters such as John Keells Holdings (closed at LKR 249.00, +1.6%), Lanka IOC (closed at LKR 42.30, +3.2%) and Trans Asia (closed at LKR 99.00, +3.1%) affected positively to the index performance.

Daily market turnover was LKR 888mn. Distilleries topped the turnover list with LKR 64mn followed by Lanka IOC (LKR 59mn), Blue Diamonds Jewellery (LKR 52mn). Single crossing was recorded in Aitken Spence Hotels where approx. 0.4mn shares changed hands at LKR 85.00 per share.

Gainers surpassed the losers 105 to 103, while 65 equities remained unchanged. Cash map inclined to 54% from 47%. 17 counters reached to 52wk high price levels while only Lucky Lanka Milk Processing Company touched 52wk low price level.

Meanwhile shares of Blue Diamonds Jewellery, Lanka Century Investments Warrant0006 and Laugfs gas non-voting attracted heavy investor interest during the session.

Foreign investors were net buyers with a net inflow of LKR 103mn worth of stocks. Foreign participation was 11%. Foreign net inflows were seen in Distilleries (LKR 58mn), Aitken Spence Hotels (LKR 37mn) and Commercial Bank (LKR 11mn) while foreign net outflow was mainly seen in Lanka Century Investments (LKR 6mn).

MTD Walkers made an announcement to CSE informing that the board of directors has approved the acquisition of 100% equity stake in Wincon Development Ceylon (Pvt) Ltd for a total purchase consideration of LKR 2.2bn (LKR 4.01 per share).

Further Arpico Finance and Lee Hedges declared first & final dividends of LKR 2.50 (DY 1.8%) and LKR 23.00 (DY 6.1%) per share respectively. Finlays Colombo announced a first interim dividend of LKR 1.00 per share.

Senkadagala Finance announced that the company entered into a share purchase agreement with Newest Capital Limited (NCL) to acquire 100% of the fully paid issued capital of NCL for a sum of LKR 300mn. This transaction complies with the consolidation plan by the Central Bank of Sri Lanka and has their approval.

Lanka Securities Research