Colombo equities ended another lackluster trading session amid fragile investor confidence on economy. All Share Price index marginally declined by 3.50 points or 0.05% to end at 7,104.37 while S&P SL 20 index marginally declined by 4.67 points or 0.12% to end at 3,881.04.

Price declines in counters such as Hemas Holdings (closed at LKR 86.00, -2.7%), Distilleries (closed at LKR 275.00, -1.3%) and Commercial Bank (closed at LKR 165.00, -0.6%) affected negatively to the index performance.

Daily market turnover was LKR 667mn underpinned by several crossings recorded in John Keells Holdings (0.6mn shares at LKR 173.00 per share), Hatton National Bank (0.3mn shares at a price range of LKR 216.50-217.00), People’s Leasing (1.9mn shares at LKR 22.80 per share) and Chevron Lubricants (0.1mn shares at LKR 380.00 per share). Total crossings accounted for 40% of the market turnover.

John Keells Holdings positioned at the top of the turnover list with LKR 161mn followed by Hatton National Bank (LKR 77mn), Ceylon Grain Elevators (LKR 58mn) and Chevron Lubricants (LKR 48mn).

In addition, all three scripts of John Keells Holdings advanced during the session after suffering from losses in last few days. John Keells Holdings closed at LKR 173.00 per share with a gain of 0.4% while JKH W0022 closed at LKR 8.90, +18.7% and JKH W0023 closed at LKR 38.40, +6.7%.

However, despite the bearish investor sentiments 117 counters advanced 77 counters declined while 58 counters remained unchanged. Cash map declined from 72% to 60%. 05 counters recorded 52wk high prices while 18 counters declined to 52wk low prices.

Ceylon Grain Elevators continued to be the most favored counter for the session recording a fresh 52wk high price of LKR 92.60, +5.1%. Further John Keells Holdings Warrant 0022, Bimputh Finance, Three Acre Farms and Bairaha Farms were among heavily traded counters.

Meanwhile Hapugastenne Plantations announced that the company has been transferred from Main Board to the Diri Savi Board with effect from today (21st Sep 2015), at the request of the company.

Foreign investors were net sellers with a net foreign outflow of LKR 5mn. Foreign participation was 50% which is the highest participation recorded since 17th July. Net foreign outflows were seen in Sampath Bank (LKR 13mn), Chevron Lubricants (LKR 9mn) Hatton National Bank non-voting (LKR 6mn) while net foreign inflow was mainly seen in John Keells Holdings (LKR 13mn).

Lanka Securities Research