Colombo bourse closed with mixed results on Tuesday amid notable foreign inflows.  Core index managed to regain from the intra-day low of 7,386.80 to close at 7,412.72, by recording a gain of 9.34 points (+0.13%). S&P SL20 index marginally declined for the second consecutive day by 0.87 index points (0.02%) to end at 4,120.00.

Price appreciations in Commercial Leasing and Finance (closed at LKR 4.60, +4.6%) and Overseas Realty (closed at LKR 28.50, +2.9%) contributed favorably to the All Share Index while price declines in John Keells Holdings (closed at LKR 258.00, -0.4%) and Lanka Orix Leasing Company (closed at LKR 86.00, -2.3%) affected negatively for the S&P SL20 index.

Daily market turnover was LKR 1.6bn. John Keells Holdings topped the turnover list LKR 384mn supported by single crossing of 0.7mn shares at LKR 258.50. People’s Leasing & Finance & Lanka IOC were among next best contributors to the turnover with LKR 132mn & LKR 111mn respectively.

Several crossings were recorded in counters such as Asiri Hospital Holdings (2.7mn shares at LKR 24.50), Seylan Bank non-voting (0.6mn shares at LKR 54.50) and People’s Leasing & Finance (2.8mn shares at LKR 22.50). Aggregate value of crossings represented 21% of the total turnover.

Out of 273 counters, 125 advanced, 88 slipped and 60 counters remained unchanged. Cash map declined to 48% from 54%. 24 stocks reached 52wk high prices while 6 stocks touched 52wk low price levels.

Subsequent to the release of interim financial statements, Vallibel Finance counter reached 52wk high price of LKR 48.80 and closed at LKR 47.80 (+1.9%).

Most of the banks such as Hatton National Bank (LKR 198.00, +0.5%), DFCC Bank (LKR 226.10, +0.5%), National Development Bank (LKR 246.00, +0.1%), and telcos such as Dialog Axiata (closed at LKR 12.50, +0.8%) and Sri Lanka Telecom (closed at LKR 50.00, +0.6%) advanced during the session.

Swisstek, Dankotuwa Porcelain and Overseas Realty attracted heavy investor preference during the day and all three counters reached 52wk high prices. Further Lanka IOC and York Arcade Holdings were among heavily traded counters.

Meanwhile, Commercial Credit and Finance reached 52wk high price of LKR 49.10 and closed at LKR 47.80 (+1.7%) supported by the positive quarterly earnings.

Foreign investors closed the day as net buyers with net inflow of LKR 684mn worth of equities. Foreign participation was 24%. Net foreign inflows were seen in John Keells Holdings (LKR 351mn), People’s Leasing and Finance (LKR 100mn), Asiri Hospital Holdings (LKR 65mn) while net foreign outflows was mainly seen in Overseas Realty (LKR 10mn).

Lanka Securities Research