Colombo equities managed to regain lost grounds on Wednesday where ASI witnessed notable positive returns. Core index inclined by 22.28 index points (0.32%) to close at 7,047.10 and S&P SL20 index gained 12.38 index points or 0.32% to end at 3,886.88. Price appreciations in blue-chips such as Ceylon Tobacco (LKR 1,200.00, +1.7%), John Keells Holdings (LKR 249.50, +0.8%) & Commercial Bank (LKR 150.50, +1.4%) contributed favorably to the index performance.

Daily market turnover was LKR 1.2bn. John Keells Holdings topped the turnover list with LKR 192mn followed by Commercial Bank (LKR 133mn) & First Capital Holdings (LKR 88mn). The session’s only crossing was recorded in Commercial Bank (0.36mn shares at LKR 150.00).

Out of 270 stocks, 128 counters advanced, 77 counters slipped and 65 remained unchanged. Cash map marginally inclined to 56% from 51%. 22 stocks touched 52wk high price levels during the session.

Subsequent to the share purchase in Sinhaputhra Finance by Bimputh Finance yesterday, both counters attracted heavy investor interest. Sinhaputhra Finance reached to 52wk high price of LKR 259.00 and closed at LKR 250.00 (+4.6%) while Bimputh Finance touched LKR 46.90 mark and end at LKR 43.80 (+22.7%). First Capital Holdings, Dunamis Capital & Commercial Credit & Finance were among heavily traded counters.

Foreign investors were net buyers with net inflow of LKR 282mn worth of equities. Foreign participation was 16%. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 155mn), Commercial Bank (LKR 124mn) & Ceylon Tobacco (LKR 14mn) while net outflow was mainly seen Union Bank (LKR 9mn).

Lanka Securities Research