Colombo equities extended the losses for the fourth consecutive day amid bearish investor sentiments. Main index lost 6.70 points (-0.09%) to end at 7,223.56 while S&P SL 20 index marginally lost by 2.15 points (-0.05%) to end at 4,067.46.

Today’s losses were mainly led by counters such as John Keells Holdings (closed at LKR 250.00, -0.8%), Ceylon Tobacco (closed at LKT 1,015, -0.5%) and Lanka Tiles (closed at LKR 104.30, -9.3%).

Daily market turnover was LKR 544mn. John Keells Holdings positioned at the top of the turnover list with LKR 113mn underpinned by a single crossing where 0.2mn shares changed hands at LKR 252.00 per share. United Motors (LKR 56mn) and The Finance Company (LKR 37mn) recorded next best contributions to the turnover.

Another two crossings were recorded in Commercial Bank (0.1mn shares at LKR 170.00 per share) and Chevron Lubricants (0.06mn shares at LKR 390.00 per share). Total crossings accounted for 16% of the market turnover.

Gainers surpassed the losers 94to 66, while 62 counters remained unchanged. Cash map declined to 47% from 49%. 03 counters reached 52wk low price levels while 03 counters reached 52wk high price level.

The Finance Company voting and non-voting shares were the most traded shares during the session. According to an announcement made, the company has signed a liquidity support agreement with the Central Bank of Sri Lanka. Nonetheless the voting share dropped by 5.2% to LKR 22.00 while non-voting share dropped to LKR 8.70 (-3.3%).

Further shares of Blue Diamonds Jewellery Worldwide (voting & non-voting), Central Investments & Finance and John Keells Holdings were among mostly traded stocks.

Foreign investors were net buyers for the fourth consecutive day with a net inflow of LKR 57mn. Foreign participation was 32%. Foreign net inflows were seen in John Keells Holdings (LKR 102mn), Hemas Holdings (LKR 25) and Commercial Bank (LKR 24mn) while net foreign outflow was mainly seen in Chevron Lubricants.

Moreover CSE announced that the S&P SL 20 index will be changed from 22^nd December 2014. According to S&P Dow Jones Indices, Asian Hotels & Properties PLC (AHPL), C. T Holdings PLC (CTHR) and Hayleys PLC (HAYL) will be removed from the S&P Sri Lanka 20 index as they no longer qualify for index inclusion. Replacements will be Access Engineering PLC (AEL), People's Leasing & Finance PLC (PLC) and Sri Lanka Telecom PLC (SLT).

Lanka Securities Research