Colombo bourse regained lost ground on Tuesday as both indices closed with higher returns. ASI gained 23.78 index points or 0.39% to close at 6,072.16 while S&P SL20 index gained 5.27 index points or 0.16% to close at 3,326.70. The gains in the index were led by price appreciations in counters such as John Keells Holdings (closed at LKR 239.50, +2.2%), Commercial Leasing & Finance (closed at LKR 4.00, +5.3%), Lanka Orix Leasing Company (closed at LKR 76.00, +1.2%) and Asian Hotels and Properties (LKR 65.00, +3.2%).

Daily market turnover was LKR 645mn. Several crossings were recorded in John Keells Holdings (0.41mn shares at LKR 233.70), Commercial Bank (0.18mn shares at LKR 125.00) and Tokyo Cement non-voting (0.96mn shares at LKR 30.00). Accordingly John Keells Holdings emerged as top contributor to the market turnover with LKR 113mn, followed by Aitken Spence (LKR 76mn) and Tokyo Cement non-voting (LKR 67mn) respectively.

Gainers outweighed the losers 126 to 50, while 66 counters remained unchanged. Cash map improved to 59% from 54%. 11 stocks declined to 52wk low price levels while 4 managed touch 52wk high prices.

Further Hemas Holdings announced the issue of 10mn rated, unsecured, and redeemable debentures at an issue price of LKR 100.00 to raise LKR 1bn. Stock closed at LKR 39.50 (+1.02%).

Moreover East West Properties, Colombo Land & Development and John Keells Holdings warrants attracted heavy investor interest during the trading session.

Foreign Participation 32% was for the day. Foreign investors were net buyers with net inflow of LKR 94mn. Foreign inflows were seen in stocks such as Commercial Bank (LKR 14mn), Seylan Bank (LKR 3mn) & Distilleries (LKR 2mn) while foreign outflow was mainly seen in Tokyo Cement nonvoting (LKR 25mn).

Lanka Securities Research