Colombo equities ended in negative territory today as core index lost 13.52 points (-0.19%) to end at 7,238.05 while 20- script S&P SL index merely lost 0.44 points (-0.01%)to end at 4,063.17.

Today’s losses were mainly driven by blue-chips such as Access Engineering (closed at LKR 34.70, -3.9%), DFCC Bank (closed at LKR 218.50, -2.7%) and People’s Leasing (closed at LKR 24.00, -2.4%).

Daily market turnover reached a 5 week high of LKR 3.4bn underpinned by negotiated transactions in Commercial Bank where 17.9mn shares changed hands at a price range of LKR 157.00-LKR 165.00 per share. Commercial Bank’s crossings contributed 82% of the market turnover. Further, a crossing was recorded in John Keells Holdings (0.1mn shares at LKR 248.40 per share). Total Crossings represented 84% of the total market turnover.

Commercial Bank emerged as the top contributor to the market turnover with LKR 2.8bn followed by Chevron Lubricants (LKR 67mn) and John Keells Holdings (LKR 57mn).

Losers surpassed the gainers 94 to 64 while 56 counters remained unvaried. 6 counters touched a 52wk low price levels and only Chevron Lubricants reached a 52wk high price level. Cash map declined to 41% from 51%.

Further shares of Access Engineering, People’s Leasing and Union Bank were traded heavily during the session. Moreover Amana Takaful rights commenced trading today and reached a high of LKR 1.50. The share closed at 1.00, +42.9%.

Foreign investors were net buyers with a net foreign inflow was LKR 112mn while foreign participation was 5%. Foreign net inflows were seen in Ceylon Tobacco (LKR 54mn), Chevron Lubricants (LKR 47mn) and Tokyo Cement (LKR 22mn) while net foreign outflow was mainly seen in Commercial Bank (LKR 34mn).

At today’s weekly primary T-bill auction, 12 month yield further increased by 1bp to 6.00% while 6 month yield increased by 1bp to 5.84%. 3 month bills traded today after nearly three months and the yield dropped by 41bps to 5.74%.

Pelwatte Sugar Industries made an announcement to CSE confirming that the company is currently under winding-up process as per the order made by the court with effect from 12^th March 2013.

Lanka Securities Research