Colombo stock market reached its highest value since October 2011 where benchmark index gained 66.81 index points or 1.03% to cross 6,500 mark and end at 6,565.81. 20-scrip S&P SL index gained 58.22 index points or 1.61% to close at 3,676.11. Price appreciations in counters such as John Keells Holdings (closed at LKR 235.00, +3.5%), Nestle Lanka (closed at LKR 2,095.00, +6.2%) and Dialog Axiata (closed at LKR 11.00, +2.8%) contributed favorably to the index performance.

Daily market turnover crossed LKR 1bn for the eighth consecutive day and reached LKR 1.74bn supported by crossings which accounted for 29% of the total turnover. Crossings were recorded in counters such as Distilleries (1.0mn shares at 205.00-205.10), Chevron Lubricants (0.4mn shares at LKR 310.00), Nestle Lanka (0.03mn shares at LKR 2,050.00-2,100.00), Hatton National Bank (0.3mn shares at LKR 170.00), Hayleys (0.1mn shares at LKR 290.00) and Commercial Bank (0.1mn shares at LKR 147.00).

Accordingly Distilleries topped the turnover list with LKR 233mn followed by John Keells Holdings (LKR 181mn) and Hatton National Bank (LKR 139mn) respectively.

Gainers outweighed losers 138 to 71, while 61 counters remained unchanged. Cash map improved to 65% from 56%. 28 equities touched 52wk high prices while one counter reached 52wk low price levels.

Moreover, PCH Holdings, PC Pharma and Tess Agro attracted heavy investor participation during the session. Further Access Engineering and Sathosa Motors announced final dividends of LKR 0.50 and LKR 5.00 per share respectively. Access Engineering share closed at LKR 26.20 (+1.6%) while Sathosa Motors counter closed at LKR 240.20 (-0.2%).

Meanwhile banking counters such as National Development Bank (closed at LKR 211.00), Sampath Bank (closed at LKR 214.50), Hatton National Bank (closed at LKR 170.00) and DFCC Bank (closed at LKR 165.20) reached 52wk high price levels during the session.

Foreign investors were net buyers with net inflow of LKR 290mn worth of equities. Foreign participation was 20%. Foreign inflows were seen in counters such as Chevron Lubricants (LKR 124mn), Hatton National Bank (LKR 97mn), Nestle Lanka (LKR 63mn) while foreign outflow was mainly seen in John Keells Holdings (LKR 15mn).

Lanka Securities Research