Colombo shares continued the optimistic momentum on Friday, to conclude the weekly operations in positive territory.  Benchmark All share price index gained 26.81 points or +0.38% to close at 7,087.41 whereas S&P SL 20 index gained 30.00 points or 0.77% to close at 3,932.81.

Price progression in counters such as Commercial Bank (closed at LKR 155.10, +2.7%), Hatton National Bank (closed at LKR 174.50, 2.1%) and Ceylon Cold Stores (closed at LKR 236.00, +3.6%) contributed positively to the index performance.

Daily market turnover was LKR 1.2bn. Two negotiated deals were recorded in John Keells Holdings (0.3mn shares at LKR 250.00 per share) and Distilleries (0.2mn shares at LKR 211.00 per share). John Keells Holdings positioned at the top of the turnover list with LKR 222mn followed by Sampath Bank (LKR 71mn) and Access Engineering (LKR 65mn).

Gainers surpassed the losers 136 to 86, while 47 equities remained unchanged. Cash map inclined to 68% from 52%. 29 counters reached 52wk high price levels.

Meanwhile shares of MTD Walkers, Sanasa Development Bank and Citrus Leisure Warrant 0019 attracted heavy investor attention during the session.

Foreign investors were net buyers for the seventh consecutive day with a net inflow of LKR 198mn worth of equities. Foreign participation was 15%. Net foreign inflows were seen in John Keells Holdings (LKR 114mn), Distilleries (LKR 50mn) and Commercial Bank (LKR 26mn) while net outflow was mainly seen in Laugfs Gas (LKR 21mn).

Lanka Securities Research