Colombo shares closed in positive territory on Tuesday as both indices recorded higher returns. Main bourse gained 28.76 points (+0.43%) to end at 6,727.79 and S&P SL 20 gained 29.03 points (+0.78%) to end at 3,750.26. Price progression in index heavy counters such as Carson Cumberbatch (closed at LKR 450.00, +7.1%), Bukit Darah (closed at LKR 680.00, +5.4%) and John Keells Holdings (closed at LKR 243.40, +1.3%)  affected positively to the index performance.

Daily market turnover crossed the LKR 2bn mark to record a turnover of LKR 2.2bn. Several crossings were recorded in Distilleries (4mn shares at LKR 204.00 per share), Aitken Spence Hotels (2.7mn shares at LKR 80.50-81.50), Commercial Bank (0.5mn shares at LKR 145.00 per share), John Keells Holdings (0.2mn shares at LKR 242.00 per share), Access Engineering (1.8mn shares at LKR 26.00 per share) and Hatton National Bank (0.2mn shares at LKR 169.50 per share). Aggregate value of crossings represented 56% of the total market turnover.

Distilleries emerged as the top contributor to the market turnover with LKR 834mn followed by Aitken Spence Hotels (LKR 306mn) and John Keells Holdings (LKR 137mn).

Gainers surpassed losers 131 to 84, while 53 counters remained unchanged. Cash map marginally declined to 49% from 51%.

Meanwhile shares of PC Pharma, PCH Holdings and Sierra Cables traded heavily during the session.

Moreover, Seylan Merchant Bank non-voting (closed at LKR 0.60, +20%) and Citrus Leisure warrant 0019 (closed at LKR 1.90,+12%) were among top gainers while PC House (closed at LKR 0.30, -25%) and Shalimar Malay (closed at LKR 1,851.00, -12%) were among top losers for the day.

Foreign investors were net buyers with net inflow of LKR 49mn worth of equities. Foreign participation was 45%. Net foreign inflows were seen in Distilleries (LKR 308mn), Hatton National Bank (LKR 43mn) and Chevron Lubricants (LKR 24mn) while net foreign outflows was mainly seen in Aitken Spence Hotels (LKR 283mn).

Lanka Securities Research