Colombo stock market started weekly operations on a negative note where bourse witnessed a lackluster trading session. Main index failed to maintain the positive momentum and lost 30.63 index points or 0.44% to end at 6,917.51. Meanwhile S&P SL20 index declined by 15.71 index points (-0.40%) to close at 3,893.87.

Price depreciation in Lion Brewery (closed at LKR 601.90, -3.7%), Sri Lanka Telecom (closed at LKR 47.00, -2.1%) and Chevron Lubricants (closed at LKR 388.10, -2.7%) dragged the index performance to the red zone.

Daily market turnover was LKR 361mn. Commercial Bank topped the turnover list with LKR 172mn underpinned by crossings of 0.7mn shares at LKR 165.00. Aggregate value of crossings represented 33% of the total turnover.

Lanka Orix Leasing & Company and Access Engineering were next best contributors to the turnover with LKR 24mn and LKR 20mn respectively.

Out of 231 counters, 114 slipped, 69 advanced while 48 counters remained unchanged. Cash map declined to 48% from 60%.

Access Engineering, Entrust Securities, John Keells Holdings were among heavily traded counters.

Sri Lanka Telecom declined to LKR 47.00 (-2.1%) despite the announcement of first & final dividend of LKR 0.89 per share.

Foreign investors were net buyers with a net inflow of LKR 15mn. Foreign participation was 54%. Net foreign inflows were seen in Access Engineering (LKR 7mn), Tokyo Cement (LKR 5mn), Vallibel Power (LKR 5mn) while net foreign outflow was mainly seen in Sampath Bank (LKR 2mn).

Lanka Securities Research