Colombo equity market started the weekly operations in mixed note where All share price index lost 3.20 points or -0.05% to close at 7,030.89. S&P SL 20 index gained 4.88 points or 0.13% to end at 3,877.39. Price declined in Ceylon Tobacco (closed at LKR 1,180,-1.4%), Nestle Lanka (closed at LKR 2,100.00, -2.2%) and Cargills (closed at LKR 160.00, +2.4%) affected negatively to the index performance.

Daily market turnover reached LKR 1.0bn underpinned by the single crossing recorded in Seylan Bank where 5mn shares changed hands at LKR 80.00 per share. The crossing represented 38% of the total market turnover. Seylan bank topped the turnover list with LKR 410mn followed by Union Bank (LKR 64mn) and John Keells Holdings (LKR 61mn).

Cash map marginally increased to 60% from 59%.

Meanwhile finance sector shares such as Union Bank, Sanasa Development Bank and Sinhaputhra Finance treaded heavily during the session.

Foreign investors were net buyers with net inflow LKR 35mn worth of equities. Foreign participation was 8%. Net foreign inflows were seen counters such as John Keells Holdings (LKR 29mn), Laugfs gas (LKR 16mn) and Union Bank (LKR 7mn) while net outflow was mainly seen in Laugfs gas non-voting (LKR 13mn).

ACL Cables declared an interim dividend of LKR 1.00 per share.

Commercial Bank announced that has purchased the entirety of the shares of Indra Finance Limited represented by 21.6mn ordinary shares as of today for a consideration of LKR 870mn.

Laugfs gas made and announcement to CSE informing that a memorandum of agreement is signed under Laugfs Maritime Services (Pvt) Ltd, a fully owned subsidiary of Laugfs gas PLC to purchase liquid petroleum gas vessel, “Gas Puffer” and to be re-named as “Gas Challenger”. The initial investment is around US$ 6.9mn.

DFCC Bank’s senior, unsecured, redeemable, rated debentures of LKR 100.00 each will be listed tomorrow.

Lanka Securities Research