Colombo equities continued the positive momentum for the second consecutive session driven by buying pressure in heavy cap counters. Benchmark All share price index gained 14.31 points or +0.20% to end at 7,053.96 while S&P SL 20 index gained 25.77 (+0.66%) to end at 3,938.46.

Today’s gains were mainly led by price appreciations in primary blue chip counters such as John Keells Holdings (closed at LKR 206.50, +3.2%), Carson Cumberbatch (closed at LKR 405.00, +1.3%) and Distilleries (closed at LKR 275.00 , +1%).

Further price inclines in Nestle Lanka (closed at LKR 2,228.00, +4.9%) and Ceylon Tobacco (closed at LKR 925.00, +2.7%) also affected positively to the index performance. Out of 20 counters in S&P SL index 11 advanced, 4 declined and 5 counters remained unvaried.

Daily market turnover was LKR 810mn. Several negotiated deals were recorded in John Keells Holdings (0.4mn shares at LKR 208.00 per share) and Sampath Bank (0.1mn shares at LKR 260.00 per share). The total crossings accounted for 13% of the market turnover.

Further, John Keells Holdings emerged as the top contributor to the market turnover with LKR 186mn followed by Sampath Bank (LKR 84mn), John Keells Holdings Warrant 0022 (LKR 54mn) and Anilana Hotels & Properties (LKR 50mn).

Out of 225 counter traded, 107 advanced 86 slipped while 62 counters remained unchanged. Cash map improved to 61% from 48%. 14 counters declined to 52wk low prices. Three Acre Farms (LKR 68.00), East West Properties (LKR 17.30), Kelani Cables (LKR 105.90), Citizen Development Business Finance non-voting (LKR 91.60) and J.L. Morison Sons & Jones non-voting (LKR 300.00) recorded 52wk high prices.

Moreover shares of John Keells Holdings, JKH Warrant 0022, Anilana Hotels & Properties and FLC Hydro Power were among heavily traded counters. John Keells Holdings Warrant 0022 (+19%) emerged as the top gainer for the day.

Further, as per the announcement made, Banque Pictet & Cie SA (Mr. Patrick Schegg) holds a 12.7% shareholding in Ceylinco Insurance.

Foreign investors turned to be net buyers with a net inflow of LKR 73mn after two consecutive days of net outflows. Foreign participation was at 21%. Net foreign inflows were seen in John Keells Holdings (LKR 92mn), Laugfs Gas Holdings non-voting (LKR 32mn) and Kelani Cable (LKR 11mn) while net foreign outflow was mainly seen in Hatton National Bank (LKR 19mn).

Lanka Securities Research