Colombo equity market posted mixed results on Tuesday amid high activity levels in premier blue-chip, John Keells Holdings. Core index marginally declined by 2.61 index points (-0.04%) to end at 6,376.01 while 20-scrip S&P SL index gained 9.13 index points (+0.26%) to close at 3,543.56. Price declines in counters such as Sri Lanka Telecom (closed at LKR 47.50, -1.0%), Ceylinco Insurance (closed at LKR 1,300.00, -3.7%) and Shalimar (closed LKR 2,160.00, -11.6%) contributed negatively to the bourse performance.

Daily market turnover reached nearly two-month high of LKR 4.7bn with the support of several off-the-floor transactions recorded in John Keells Holdings (9.4mn shares at LKR 220.00), Access Engineering (26.0mn shares at LKR 25.00-26.00), Sunshine Holdings (6.3mn shares at LKR 32.00), CIC Holdings (1.0mn shares at LKR 55.00), Cargills (Ceylon) (0.3mn shares at LKR 150.00) and Hatton National Bank (0.3mn shares at LKR 157.00). Aggregate value of crossings represented 65% of the total market turnover.

Accordingly John Keells Holdings topped the turnover list with hefty LKR 2.74bn turnover which represented 58% of the total market turnover recorded during the session. The share closed at LKR 223.50, +1.6%. Access Engineering and Adam Investments reported turnover of LKR 778mn and LKR 262mn respectively. As per the announcement made to the CSE, Dr.T.Senthilverl has purchased 46mn shares of Adam Investments today. This represents approx. 10.4% of the issued share capital of the company.

Further Dr.T.Senthilverl has purchased 6.3mn shares of Sunshine Holdings today. Subsequent to today’s purchase Dr.T.Senthilverl owns 11.1% stake in Sunshine Holdings.

Moreover PCH Holdings, Ceylon Leather – warrant and Three Acre Farms were among the heavily traded stocks of the day. Shares of Three Acre Farm reached a 52 week high of LKR 58.40 and closed at LKR 57.50 (+3.6%).

Gainers outweighed the losers 111 to 86, while 67 counters remained unchanged. Cash map declined to 51% from 68%. 12 equities managed to reach 52wk high prices while 4 equities touched 52wk low price levels.

Foreign investors were net buyers for the fifth consecutive day with inflow of LKR 1.0bn worth of equities. Foreign participation was 32%. Foreign inflows were seen in equities such as John Keells Holding (LKR 1.1bn), Commercial Bank (LKR 44mn), Chevron Lubricants (LKR 39mn) while foreign outflow was mainly seen Sunshine Holdings (LKR 202mn).

Lanka Securities Research