Colombo equities ended on negative note after two consecutive sessions of gains amid profit taking and political uncertainties. Both indices witnessed declines ahead of monetary policy review where the main index shed 16.08 points or 0.22% to end at 7,273.69 while 20-script S&P SL 20 index marginally declined by 4.89 points (-0.12%) to end at 4,068.63.

Today’s drops were mainly led by price depreciation in counters such as Carson Cumberbatch (closed at LKR 401.50, -3.3%), Nestle Lanka (closed at LKR 2,005.00, -10.5%) and Good Hope (closed at LKR 1,601.00, -14.8%).

Daily market turnover reached to LKR 1.7bn supported by several negotiated deals recorded in Sampath Bank (0.6mn shares at the price range of LKR 265.00-265.50), Commercial Bank (0.3mn shares at LKR 169.50), John Keells Holdings (0.2mn at LKR 204.00), Lanka Walltiles (0.2mn shares at LKR 116.50), National Development Bank (0.1mn shares at LKR 275.00), Seylan Bank (1.2mn shares at LKR 114.00) and DFCC Bank (0.3mn shares at LKR 213.40). Total crossings represented 30% of the market turnover.

Sampath Bank emerged as the top contributor to the turnover with LKR 169mn followed by Seylan Bank voting (LKR 164mn), Seylan Bank non-voting (LKR 118mn) and Commercial Bank (LKR 106mn).

Losers surpassed the gainers 108 to 97 while 58 counters remained unchanged. Cash map marginally slipped to 56% from 59%. 22 counters advanced to 52wk high prices while 9 counters declined to 52wk low prices. Out of which 08 counters in industrial sector, 07 counters in Finance sector and 03 counters in banking sector advanced to 52wk high prices.

Shares of Sinhaputhra Finance voting share & preference share, Seylan Bank non-voting share and Alufab were among heavily traded counters for the session. Sinhaputhra Finance touched a 52wk low price of LKR 19.80, -0.4% today, subsequent to the commencement of trading after the subdivision. The counter closed at LKR 20.60, -3.6%.

In addition Royal Ceramics and its subsidiaries namely Lanka Walltiles and Lanka Tiles incline to 52wk high prices. Royal Ceramics advanced to a 52wk high price of LKR 127.40, +3.4% (closed at LKR 124.20, +0.8%) whilst Lanka Walltiles (closed at LKR 116.80, +3.4%) and Lanka Tiles (closed at LKR 119.00, +0.9%) recorded 52wk high prices of LKR 117.00, +3.5% and LKR 120.00, +1.7% respectively.

Foreign investors were net sellers with a net foreign outflow of LKR 64mn for the second consecutive session. Foreign participation was 16%. Net foreign outflows were seen in DFCC Bank (LKR 65mn), National Development Bank (LKR 28mn) and Lanka Century Investments (LKR 13mn) while net foreign inflow was mainly seen in John Keells Holdings (LKR 43mn).

Orient Finance (ORIN) and Bartleet Finance (BFN) made a joint announcement to CSE informing that the boards of directors of the companies have decided to amalgamate ORIN and BFN, which are subsidiaries of Janashakthi PLC after due consideration. The companies had made an application to the Central Bank of Sri Lanka seeking provisional approval for the proposed amalgamation.

Meanwhile Hayleys declared a first & final dividend of LKR 6.00 per share.

Commercial Credit and Finance announced that the debenture issue of LKR 1bn has been oversubscribed on its opening day.

Lanka Securities Research