Colombo stocks witness positive returns

June, 18, 2015

Colombo equities witnessed positive returns on Thursday for the second consecutive day despite thin foreign investor activity. All Share index managed to bag 14.44 index points (+0.20%) to end at 7,064.15 while S&P SL20 index inclined by 9.57 index points or 0.24% to close at 3,924.33.

Price appreciations in high cap stocks such as John Keells Holdings (closed at LKR 198.50, +1.8%), Nestle Lanka (closed at LKR 2,030.00, +1.5%) and Sri Lanka Telecom (closed at LKR 46.00, +1.1%) contributed positively to the index performance.

Daily market turnover was LKR 566mn. DFCC Bank topped the turnover list with LKR 101mn underpinned by a single crossing of 0.1mn shares at LKR 200.00. Anilana Hotels & Properties and Ceylon Guardian Investment Trust were next best contributors to the turnover with LKR 62mn and LKR 61mn respectively.

Two crossings were recorded in Ceylon Guardian Investment Trust (0.2mn shares at LKR 185.00) and Adam Capital (8.9mn shares at LKR 2.80). Aggregate value of crossings represented 17% of the total turnover.

Positive investor sentiment was reflected in today’s session where, out 261 counters, 120 advanced, 81 declined while 60 counters remained unchanged. Further, Cash map notably advanced to 53% from 41%. 5 counters managed to reach 52wk high prices while 8 stocks touched 52wk low price levels.

Investors gathered around counters such as Anilana Hotels & Properties, LB Finance, Nation Lanka Finance and Asian Alliance Insurance. Both LB Finance (LKR 235.00) and Asian Alliance Insurance (LKR 209.90) stocks reached fresh 52wk high prices but counters closed below at LKR 232.00 (+5.5%) and LKR 207.00 (+6.1%).

Meanwhile, Adam Capital announced that the company stepped into micro credit business segment through the incorporation of Adam Capital Micro Credit (Pvt) Ltd on 15th June 2015 as fully owned subsidiary of Adam Capital.

Further, Tokyo Cement Company declared that the initiation of Tokyo Super Aggregate Limited (subsidiary of TKYO) with the principle objective of producing manufactured sands and aggregates for concrete.

Foreign investors were net buyers with a marginal net inflow of LKR 1mn. Foreign participation declined to a 2 month low of 7%. Net foreign inflows were seen in MTD Walkers (LKR 13mn), Nations Trust Bank (LKR 12mn), Singer Finance (LKR 2mn) while net foreign outflow was mainly seen in Laugfs Gas (LKR 12mn).

Lanka Securities Research

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