Colombo shares ended in positive territory on Tuesday amid political uncertainties. The benchmark All Share Price index gained 18.22 points (+0.26%) to end at 7,098.60 while S&P SL 20 index marginally gained 5.83 points (+0.15%) to end at 4,026.43.

Today’s gains were mainly fuelled by price appreciations in counters such as Ceylon Tobacco (closed at LKR 1,020.00, +0.6%), Lion Brewery (closed at LKR 632.50, +2%) and DFCC Bank (closed at LKR 230.00, +8.4%). Furthermore several high cap banking sector counters such as National Development Bank, Sampath Bank and Hatton National Bank also supported favorably to the index performance.

The market turnover increased to LKR 684mn. Commercial Credit & Finance emerged as the top contributor to the turnover with LKR 177mn underpinned by notable crossing where 3mn shares changed hands at LKR 53.00 per share. The crossing represented 23% of the market turnover. The counter closed at a 52wk high price of LKR 53.00, +6.6%.

Further Distilleries (LKR 135mn) and Commercial Bank (LKR 52mn) recorded next best contributions to the daily turnover.

Other crossings were recorded in Distilleries where 0.3mn shares traded at LKR 240.00 per share. Total crossings accounted for 34% of the market turnover.

The gainers offset the losers 90 to 78 while 58 counters remained unvaried. Cash map marginally inclined to 60% from 55%. 07 counters reached to 52wk high prices while 05 counters dropped to 52wk low prices.

Moreover, Textured Jersey continued the positive momentum to close at LKR 25.70, +0.4%. However, Heyleys MGT lost the momentum and closed lower today at LKR 19.49, -1%.

Singhe Hospitals was the most preferred counter for the session. The counter traded at a high of LKR 2.80 on its first day of trading but closed at LKR 2.50. Further shares of Ascot Holdings, Access Engineering, Ceylon Leather Products and its warrant 0014 and Swisstek were among mostly traded counters. Swisstek reached a 52wk high price of LKR 50.80, +5.6% and closed higher at LKR 50.50, +5%.

Foreign investors continued to be net buyers for the second consecutive day with a net foreign inflow of LKR 219mn while foreign participation was high at 41%. Net foreign inflows were seen in Commercial Credit & Finance (LKR 169mn), Distilleries (LKR 37mn) and Lion Brewery (LKR 7mn) and net foreign out flow was mainly seen in People’s Leasing (LKR 4mn).

Lanka Securities Research