Colombo stock market started weekly operations on optimistic note where both indices witnessed positive returns. Core index gained 21.49 index points or 0.30% to close at 7,256.41 while 20-scrip S&P SL index gained 11.89 index points or 0.30% to close at 4,030.87. Price appreciations in counters such as Hemas Holdings (closed at LKR 63.00, +6.8%), CT Holdings (closed at LKR 170.00, +6.3%) & Dialog Axiata (closed at LKR 11.30, +1.8%) contributed positively to the index performance.

Daily market turnover was LKR 1.9bn. Several off-the-flooring dealings were recorded in Asiri Hospital Holdings (5.0mn shares at LKR 22.00), Access Engineering (2.0mn shares at LKR 29.00), Lanka IOC (1.0mn shares at LKR 45.00), Hatton National Bank (0.45mn shares at LKR 180.00), Commercial Bank (0.13mn shares at LKR 160.00) & Bukit Darah (0.10mn shares at LKR 725.00). Aggregate value of crossings represented 20% of the total turnover.

Access Engineering topped the turnover list with LKR 174mn followed by Hatton National Bank (LKR 153mn) & Asiri Hospital Holdings (LKR 136mn) respectively.

Out of 277 counters, 126 advanced, 95 slipped and 56 remained unchanged. Cash map improved to 56% from 54%. 36 counters reached 52wk high prices while 3 counters touched 52wk low prices.

Hayleys MGT, First Capital Holdings & Softlogic Capital attracted heavy investor interest during the day.

Entrust Securities announced first & final dividend of LKR 1.61 per share & stock closed at LKR 46.90, +4.5%. Further, Carson Cumberbatch declared first interim dividend of LKR 1.00 per share & counter closed at LKR 450.00, +0.5%.

Meanwhile, Mr. R. Gunwardene has stepped down from Chairmanship of Odel and Mr.A.Pathirage has appointed to the vacant position.

Foreign investors were net buyers with net inflow of LKR 458mn worth of equities. Foreign participation was 28%. Foreign net inflows were seen in counters such as Hatton National Bank (LKR 138mn), Asiri Hospital Holdings (LKR 117mn), Hemas Holdings (LKR 111mn) while net outflow was mainly seen in Bukit Darah (LKR 73mn).

Lanka Securities Research