Colombo shares concluded the weekly operations on Friday in positive territory as both indices closed with gains. Main index gained 10.23 points or 0.16% to end at 6,477.51 and S&P SL 20 index marginally gained 2.26 points or 0.06% to end at 3,610.68. Price improvements in counters such as John Keells Holdings (closed at LKR 225.00, +1%), Sri Lanka Telecom (closed at LKR 49.60, +1.9%) and Aitken Spence Hotels (closed at LKR 79.90, +3.8%).

Daily market turnover was LKR 1.4bn. Aitken Spence Hotels (LKR 198mn) emerged as the top contributor to the market turnover underpinned by crossings where 2.2mn shares changed hands at the price range of LKR 77.00-79.00. DIMO (LKR 93mn) and CIC (LKR 81mn) recorded next best turnovers. Several crossings were recorded in DIMO (0.2mn shares at LKR 525.00-530.00), Sunshine Holdings (2mn shares at LKR 32.00), CIC (1mn shares at LKR 62.50), John Keells Holdings (0.2mn shares at LKR 225.00) and Commercial Bank (0.1mn shares at LKR 141.50). Aggregate value of crossings represented 31% of the market turnover.

Gainers offset losers 128 to 66, while 62 counters remained unchanged. Cash map declined to 53% from 58%.

Meanwhile shares of Adam Investments, PCH Holdings and PC Pharma were traded heavily during the session subsequent to the announcement of mandatory offer by Adams investments to acquire the balance voting shares of PCH Holdings and PC Pharma.

Foreign participation for the day was 15%. After eight consecutive days of foreign inflows, foreign investors were net sellers with a net out flow of LKR 105mn. Foreign outflows were seen in Aitken Spence Hotels (LKR 145mn), Sunshine Holdings (LKR 67mn) and Haycarb (LKR 7mn) while foreign inflow was mainly seen in John Keells Holdings (LKR 47mn).

Ceylon Tea Services declared a final dividend of LKR 12.50 per share.

Lanka Securities Research