April, 4, 2014
Equity market concluded weekly operations on Friday in a positive note, recording 21-month high turnover of LKR 5.04bn. Both indices closed with positive returns as All share price index advanced by 36.08 (+0.60%) points to close at 6,054.55 and S&P SL 20 index advanced by 27.60 (+0.84%) points to close at 3,323.10. Progression of share prices in counters such as Ceylon Tobacco (closed at LKR 1,075.00, +2.5%), Sri Lanka Telecom (closed at LKR 49.50, +3.6%) and Commercial Bank (closed at LKR 125.00, +2.4%) contributed favorably to the performance of the indices.
John Keells Holdings (LKR 4.4bn) topped the turnover list with a total volume of 18.8mn shares. JKH closed at LKR 233.00, +1.3%. Approx. 30.1mn shares of JKH, which accounts for nearly 3% of the total shares of the company, were traded during last three trading sessions. Further, Commercial Bank and Lanka IOC positioned as next best contributors to the market turnover with a contribution of LKR 224mn and LKR 64mn. Several negotiated deals were recorded in Lanka IOC (approx. 1.3mn shares at LKR 39.80 per share), Bairaha Farms (approx. 0.25mn shares at LKR 146.50 per share) and Commercial Bank (approx. 1.07mn shares at LKR 125.00 per share).
Gainers outweighed the losers 111 to 63, while 58 counters remained unchanged during the trading session. Cash map improved to 96% from previous day’s 78%.
Meanwhile PC House, Blue Diamond and John Keells Holdings W0023 managed to attract heavy investor interest during today’s trading session.
Foreign participation accounted for 48% of the market activity. Foreign investors were net sellers with a net outflow of LKR 4.1bn. Net foreign outflows were seen in John Keells Holdings (LKR 4.3bn), Aitken Spence (LKR 17.8mn) and Chevron Lubricants (LKR 17.7mn) whilst net inflow was mainly seen in Commercial Bank (LKR 222.4mn).
Moreover, according to the announcement made to CSE by Touchwood Investments, the court granted the company an opportunity to reply to the submission filed by petitioners on 23rd April 2014. The court has fixed the case for Order on 7th May 2014.
Lanka Securities Research
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