Colombo equities continued the positive momentum on Monday as market stabilized after the policy changes. Benchmark All share price index advanced by 35.69 points (+0.5%) to end at 7,198.44 while S&P SL 20 advanced by 24.48 points (-0.62%) to end at 3,983.41.

Today’s gains were mainly driven by counters such as Hatton National Bank (closed at LKR 214.00, +6%), Ceylon Brewery (closed at LKR 900.00, +22.3%) and John Keells Holdings (closed at LKR 1.4%).

Daily market turnover was LKR 930mn. A single crossing was recorded in National Development Bank (0.2mn shares at LKR 235.00 per share). John Keells Holdings emerged as the top contributor to the market turnover with LKR 275mn followed by Dialog Axiata (LKR 104mn) and Vallibel Power (LKR 79mn).

Out of 233 counters traded 92 advanced, 80 declined and 61 remained unchanged. Cash map inclined to 57% from 44%. 6 counters touched the 52wk high prices while 3 counters dropped to 52wk low price levels.

Shares of John Keells Holdings continued to be the most preferred share for the third consecutive day followed by John Keells Holdings Warrant 0022 & 0023, Vallibel Power and Textured Jersey.

Foreign investors were net buyers with net inflow of LKR 93mn. Foreign participation for the day was 32%. Net foreign inflows were seen in John Keells Holdings (LKR 99mn), Dialog Axiata (LKR 53mn) and Laugfs Gas (LKR 8mn) while net foreign outflow was mainly seen in Hatton National Bank non-voting (LKR 17mn). Accordingly, the year to date net foreign inflow increased to LKR 825mn.

Meanwhile several companies released their interim financial statements for the December quarter today. Access Engineering recorded a drop in profits by 39% year-on-year. Subsequent to the unfavorable results the counter declined today to close at LKR 26.50, -3.3%. Further surprisingly Softlogic Finance dropped today by 4.8% to close at LKR 40.00 after recording a notable profit growth of 53% year-on-year.

HNB Assurance declared a final dividend of LKR 3.75 per share (Dividend Yield – 4.2%).

Further PCH Holdings made an announcement to CSE informing that Bieco Link Carbons (Pvt) Ltd, a fully owned subsidiary of PCH Holdings which was non-operational for nearly one year is now being refurbished and upgraded to commence commercial production. The counter advanced today to close at LKR 2.50, +8.7%.

A I A Insurance script dividend shares were listed today on CSE and counter remained unchanged without trades.