Colombo equities ended with mixed returns on Tuesday as main index marginally gained 4.98 points (+0.07%) to close at 6,947.90 whereas S&P SL 20 index lost 1.02 points (-0.03%) to close at 3,817.52. All share price index swung to the negative territory where it dropped to 6,903.38 in the morning session but managed to close on a positive note. The index has increased by 134 points so far in this month.

Price progression in counters such as Ceylon Tobacco (closed at LKR 1,200.50, +4.4%), Ceylon Cold Stores (closed at LKR 224.90, +6.1%) and Commercial Leasing & Finance (closed at LKR 4.50, +2.3%) contributed positively to the main index performance while price movements in John Keells Holdings (closed at LKR 238.00, -0.6%), Distilleries (closed at LKR 211.00, -0.9%) and Lanka Orix Leasing (closed at LKR 93.00, -1.1%) affected negatively to the S&P SL 20 index.

Daily market turnover reached LKR 1.2bn with the support of several negotiated deals recorded in Nations Trust Bank (1.1mn shares at LKR 82.00 per share), John Keells Holdings (0.4mn shares at LKR 239.50 per share), Lanka IOC (1.5mn shares at LKR 38.60 per share), DIMO (0.04mn shares at LKR 680.00 per share) and Ceylon Cold Stores (0.1mn shares at LK 205.00 per share). Total crossings accounted for 24% of the market turnover. Nations Trust bank positioned at the top of the turnover list with LKR 119mn closely followed by John Keells Holdings (LKR 118mn) and Lanka IOC (LKR 116mn).

Losers surpassed the gainers 125 to 79, while 59 counters remained unchanged. Cash map declined to 50% from 60%. 40 counters touched 52wk high prices during the session whereas only Asia Capital and Lucky Lanka Milk Processing touched 52wk low price levels.

Meanwhile shares of Malwatte Valley Plantations, Nation Lanka Finance and Three Acre Farms treaded heavily during the session.

Foreign investors were net buyers with net inflow of LKR 164mn worth of equities. Foreign participation was 17%. Net foreign inflows were seen in John Keells Holdings (LKR 108mn), Distilleries (LKR 43mn), Hemas Holdings (LKR 25mn) while net outflow was mainly seen in Nations Trust Bank (LKR 48mn).

Vallibel One made an announcement to CSE informing that the company disposed its entire stake (50%) in Orit Apparels Lanka (Private) Limited (OAL) at a consideration of approx. LKR 741mn, resulting a net capital gain of LKR 138mn (LKR 0.13 per share). The shares were purchased by Mr. C. P. Palansuriya, Chairman and the holder of the remaining 50% shares of OAL. Counter closed at LKR 22.50, -1.3%.

Lanka Securities Research