August, 6, 2015
Colombo bourse stretched gains for the second consecutive session on Thursday amid positive corporate earnings. Benchmark All Share Price index bagged 10.93 points or (+0.15%) to end at 7,377.24 whilst S&P SL 20 index gained 8.84 index points (+0.22%) to end at 4,091.86.
Market momentum was steered by counters such as John Keells Holdings (closed at LKR 192.20, +1.1%), Dialog Axiata (closed at LKR 11.20, +1.8%) and Singer Sri Lanka (closed at LKR 139.40, +7.4%). Further Lanka Hospitals advanced to LKR 53.40, +10.5% (closed at LKR 51.60, +6.8%), which also contributed to the index performance. Lanka Hospitals recorded a 209%growth in profit in June quarter.
Daily market turnover was LKR 2.5bn. Several crossings were recorded in Textured Jersey (13.5mn shares at LKR 30.30 per share), Expolanka (9.8mn shares at LKR 8.80 per share), People’s Leasing & Finance (4mn shares at LKR 24.80 per share), John Keells Holdings (1.8mn shares at a price range of LKR 189.50 – 192.00), Sampath Bank (0.2mn shares at LKR 263.00 per share), Ceylon Tobacco (0.1mn shares at LKR 980.00 per share) and Chevron Lubricants (0.06mn shares at LKR 406.00 per share). Total crossings accounted for 45% of the market turnover.
Textured Jersey topped the turnover list with LKR 630mn supported by the crossings. John Keells Holdings (LKR 355mn), Lanka IOC (LKR 161mn) and People’s Leasing & Finance (LKR 135mn) recorded next best contributions to the turnover.
Gainers surpassed the losers 120 to 88 while 46 counters remained unchanged. Cash map improved to 61% from 48%. 20 counters touched 52wk high prices while Adam Investments, Blue Diamonds Jewellery non-voting and FLC Holdings recorded 52wk low prices.
Ceylon Grain Elevators led the trades followed by Sinhaputhra Finance preference shares, HVA Foods and Lanka IOC. Poultry sector counters namely Ceylon Grain Elevators, Three Acre Farms and Bairaha Farms continued to post fresh 52 week highs.
The Kingsbury Hotel (SERV) advanced during the session subsequent to the positive earnings and the dividend announcement. SERV declared an interim dividend of LKR 0.30 per share which is its first dividend in last five years. Further the hotel reported a notable profit growth of 155%YoY to LKR 54mn in June quarter. The counter reached to LKR 17.20, +3.6% during the session, but closed at LKR 17.00, +2.4%.
Foreign investors continued to be net sellers with a net outflow of LKR 265mn. Foreign participation was 22%. Net foreign outflows were mainly seen in counters such as John Keells Holdings (LKR 179mn), Lanka IOC (LKR 132mn) and Dialog Axiata (LKR 43mn) while top net inflow was in Expolanka (LKR 86mn). Subsequent to today’s foreign outflow, the year-to-date net foreign inflow turned to an outflow of LKR 102mn.
Lanka Securities Research