October, 13, 2014
Colombo bourse started weekly operations on negative note where market witnessed the highest intraday loss after 13 months amid net foreign inflows. In last four sessions, ASI shed 222.38 index points (-3.0%) and S&P SL20 index shed 145.76 index points (-3.5%).
Main index slipped by 136.78 index points or 1.9% to end at 7,184.22 while 20-scrip S&P SL index declined by 95.47 index points or 2.3% to close at 4,014.55. Price declines in high caps such as Commercial Bank (closed at LKR 156.90, -6.2%), DFCC Bank (closed at LKR 215.00, -6.4%) & Sri Lanka Telecom (closed at LKR 50.00, -2.3%) affected negatively to the index performance.
Further, the entire banking sector counters declined during the day and year to date return declined to 21.5% from 23.8%.
Daily market turnover was LKR 2bn. Chevron Lubricants topped the turnover list with LKR 265mn supported by several crossing of 0.7mn shares at LKR 340.00. John Keells Holdings & People’s Leasing & Finance were among top contributors to turnovers with LKR 236mn & LKR 96mn respectively.
Several crossings were recorded in John Keells Holdings (0.5mn shares at LKR 250.00), Hemas Holdings (1.0mn shares at LKR 60.50), Asiri Hospital Holdings (1.0mn shares at LKR 23.50). Aggregate value of crossings represented 22% of the total turnover.
Out of 281 counters, 226 slipped, 27 advanced while 28 counters remained unchanged. Cash map declined to 32% from 45%. 4 counters touched 52wk high prices and 6 counters reached 52wk low price levels.
First Capital Holdings, Access Engineering & Commercial Credit & Finance attracted heavy investor interest.
Bimputh Finance announced that company received a loan of USD 750,000 from Incofin IM’s Rural Impulse Fund S.A. SICAV-FI, Luxemburg. Company will utilize funds to expand the micro finance operations of the company.
Meanwhile, the Government has presented a bill in the Parliament on 10th October 2014 to transfer DFCC Bank as a public limited company incorporated under the companies act with the name of DFCC Bank Plc.
Foreign investors were net buyers with net inflow of LKR 284mn. Foreign participation was 25%. Net foreign inflows were seen in People’s Leasing & Finance (LKR 80mn), Hemas Holdings (LKR 78mn), Dialog Axiata (LKR 44mn) while net foreign outflow was mainly seen in John Keells Holdings (LKR 36mn).
Lanka Securities Research
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