Colombo equity market closed its weekly operations on a negative note where core index marginally slipped to negative territory. ASI end at 6,810.13 points shedding 3.77 index points or 0.06% while 20-scrip S&P SL index declined by 13.09 index points or 0.35% to close at 3,759.42. Price depreciations in counters such as Ceylon Tobacco (closed at LKR 1,130.00, -1.6%), John Keells Holdings (closed at LKR 235.50, -0.6%), Commercial Leasing & Finance (closed at LKR 4.30, -4.4%) & Lion Brewery (closed at LKR 620.00, -3.1%) contributed to the negative index performance.

Daily market turnover reached LKR 775mn supported by several off-the-floor dealings in Commercial Bank (0.15mn shares at LKR 145.00), Hatton National Bank non-voting (0.42mn shares at LKR 135.00) & Laugfs Gas non-voting (2.0mn shares at LKR 30.50). Aggregate value of crossings represented 18% of the total turnover.

Accordingly Laugfs Gas non-voting topped the turnover list with LKR 71mn followed by Hatton National Bank non-voting (LKR 63mn) & John Keells Holdings (LKR 60mn).

Out of 272 traded stocks, 129 counters advanced, 82 counters declined while 61 counters remained unchanged. Cash map declined to 51% from 62%. 31 counters reached 52wk high prices and 4 counters touched 52wk low price levels.

Retail investors gathered around the Central Investments & Finance counter, subsequent to the announcement of the inclusion of CIFL in the financial sector consolidation program (2014) proposed by Central Bank of Sri Lanka. Initially Central Investments & Finance was not included in the program due to court procedures. Further non-banking financial institutional such as Commercial Credit & Finance, Sinhaputhra Finance, Chilaw Finance attracted heavy investor preference during the day.

Further, Ceylon Tobacco declared the second interim dividend of LKR 13.20 per share. Counter closed at LKR 1,130.00, (-1.6%).

Foreign investors were net sellers with net outflow of LKR 78mn worth of stocks. Foreign participation was 19%. Foreign outflows were seen in counters such as Laugfs Gas non-voting (LKR 61mn), John Keells Holdings (LKR 19mn) & Hemas Holdings (LKR 7mn) while inflow was mainly seen in Royal Ceramic (LKR 20mn).

Lanka Securities Research