Colombo equities witnessed a lackluster trading day where bourse failed to maintain momentum gained on last session. Main index shed 10.94 index points or 0.15% to close at 7,243.34 while S&P SL20 index marginally declined by 0.46 index points (-0.01%) to close at 4,082.95. Price depreciations in counters such as Ceylinco Insurance (closed at LKR 1,300.00, -2.3%), Lanka Ceramic (closed at LKR 107.10, -15.0%) and Aitken Spence Hotels (closed at LKR 78.50, -1.8%) affected the bourse performance.

Daily market turnover was LKR 742mn. Several crossings were recorded in John Keells Holdings (0.5mn shares at LKR 255.00) and Dialog Axiata (4.3mn shares at LKR 13.50). Aggregate value of crossings represented 25% of the total turnover.

Accordingly John Keells Holdings emerged as the top contributor to the turnover with LKR 352mn followed by Commercial Bank (LKR 114mn) & Dialog Axiata (LKR 58mn).

Out of 244 counters, 116 declined, 68 advanced while 60 equities remained varied. Cash map declined to 47% from 52%. 5 counters touched 52wk low prices while Commercial Bank non-voting counter reached to 52wk high price of LKR 121.00 and closed below at LKR 120.10, (-0.7%).

Sanasa Development Bank rights were most favored counter on its renunciation date. Counter witnessed sharp drop of 18.6% to LKR 15.30. Further John Keells Holdings, Lanka IOC & Sanasa Development Bank stocks were among heavily traded counters.

On XR date of the right issue, shares of Amana Takaful declined by 6.3% to closed at LKR 1.50.

Most of the banking sector counters such as DFCC Bank (LKR 215.00, -0.2%), Hatton National Bank (LKR 196.00, -0.3%), Sampath Bank (LKR 234.10, -0.8%) and HDFC Bank (LKR 61.00, -3.6%) slipped during the day while National Development Bank (LKR 242.00, +0.3%), Sanasa Development Bank (LKR 99.90, +0.5%) & Nation Trust Bank (LKR 95.00, +1.0%) advanced.

Foreign investors closed the day as net buyers with a net inflow of LKR 254mn. Foreign participation was 47%. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 233mn), Commercial Bank (LKR 130mn) & Dialog Axiata (LKR 57mn) while net foreign outflow was mainly seen in Amana Bank (LKR 3mn).

Lanka Securities Research