Colombo equity market started fresh week on a positive note where ASI touched 52wk high of 6,713.95 amid the low level of activity. ASI gained 37.63 index points or 0.56% to end at 6,699.03 while 20-scrip S&P SL index gained 13.07 index points or 0.35% to close at 3,721.23. Price appreciations in counters such as Lion Brewery (closed at LKR 700.00, +17.6%), Dialog Axiata (closed at LKR 11.00, +0.9%) and Ceylinco Insurance (closed at LKR 1,400.00, +4.1%) contributed positively to the index performance.

Daily market turnover recorded below LKR 1bn mark after 11 consecutive days with LKR 597mn, supported by single crossing recorded in DIMO (0.1mn shares at LKR 550.00). Accordingly DIMO topped the turnover list with LKR 64mn followed by Commercial Bank (LKR 43mn) and Kelani Tyres (LKR 42mn) respectively.

Gainers offset losers 134 to 74, while 58 counters remained unchanged. Cash map improved to 51% from 45%. 20 counters reached 52wk high price levels.

Sierra Cables attracted heavy investor preference with the lifting of trading suspension during the day. Further F L C Hydro Power, Blue Diamonds and PC Pharma were among heavily traded counters.

Meanwhile Kelani Tyres announced interim dividend of LKR 1.85 per share and stock closed at LKR 68.80 (+1.2%).

Foreign investors were net buyers with net inflow of LKR 28mn worth of equities. Foreign participation was 12%. Foreign inflows were seen in counters such as John Keells Holdings (LKR 7.7mn), Colombo Dockyard (LKR 4.6mn), Lanka IOC (LKR 2.8mn) while foreign outflows was mainly seen in Distilleries (LKR 4.1mn).

Lanka Securities Research