Colombo stock market managed to maintain the momentum gained on previous trading sessions where both indices witnessed positive returns. Main bourse gained 34.76 index points (+0.54%) to close at 6,467.28 while S&P SL20 index gained 30.48 index points (+0.85%) to end at 3,608.42. Price appreciations in equities such as Ceylon Tobacco Company (closed at LKR 1,100.00, +2.2%), Commercial Bank (closed at 149.80, +4.2%) and Sri Lanka Telecom (closed at LKR 50.00, +5.3%) contributed favorably to index performance.

Daily market turnover reached LKR 1.5bn with support of several crossings recorded in Hatton National Bank (1.1mn shares at LKR 160.00), John Keells Holdings (0.5mn shares at LKR 219.80-220.00), Asiri Hospital (5.0mn shares at LKR 19.00), CIC Holdings (0.9mn shares at LKR 60.00), Commercial Bank (0.3mn shares at LKR 140.10-147.00), Access Engineering (1.4mn shares at LKR 26.00), Browns Investments (18.2mn shares at LKR 1.70) and Piramal Glass (7.8mn shares at LKR 3.60). Aggregate value of crossings represented 37% of the total market turnover.

Accordingly Hatton National Bank topped the turnover list with LKR 229mn followed by John Keells Holdings (LKR 171mn) & Asiri Hospital (LKR 160mn).

Meanwhile subsequent to the announcement made by Adam Investments, company will make mandatory offers for PCH Holdings and PC Pharma at an offer price of LKR 2.00 and LKR 1.70 per share respectively.

Gainers offset losers 130 to 81, while 58 counters remained unchanged. Cash map declined to 58% from 65%. 27 equities reached 52wk high prices and 3 equities touched 52wk low price levels.

Foreign investors were net buyers with a net inflow LKR 266mn worth of stocks. Foreign participation was 14%. Foreign inflows were seen in counters such as Access Engineering (LKR 61mn), Ceylon Tobacco (LKR 46mn), Commercial Bank (LKR 32mn) while outflow was mainly seen in Aitken Spence Hotel (LKR 14mn).

Lanka Securities Research