Colombo equities ended on Tuesday in the positive territory as the core index gained mere 1.13 points or 0.02% to close at 7,176.10 while S&P SL 20 index marginally gained 2.34 points or 0.06% to close at 3,976.76. Price progression in counters such as Hemas Holdings (closed at LKR 54.00, +4.7%), Nestle Lanka (closed at LKR 2,130.00, 1%) and Cargills (closed at LKR 165.00, +2.6%) affected favorably to the index performance.

Market turnover was LKR 2.1bn. Several crossings were recorded in Commercial Bank (1.1mn shares at LKR 157.50 per share), Hemas Holdings (2mn shares at LKR 54.50 per share), John Keells Holdings (0.3mn shares at LKR 258.00 per share) and BRAC Lanka Finance (3.2mn shares at LKR 9.70 per share). Aggregate value of the negotiated deals represented 19% of the total market turnover.

Commercial Bank emerged as the top contributor to the market turnover with LKR 205mn followed by Hemas Holdings (LKR 153mn) and John Keells Holdings (LKR 143mn).

Losers surpassed the gainers 118 to 102, while 58 equities remained unchanged. Cash map improved to 55% from 45%.  22 counters reached 52wk high price levels.

Meanwhile shares of Vallibel Power Erathna attracted heavy investor interest today subsequent to the interim dividend of LKR 0.50 per share (DY 7.5%). Counter closed at LKR 6.70, +9.8%. Further, Hayleys MGT Knitting Mills, Piramal Glass Ceylon and Lanka IOC were among mostly traded counters during the day.

Foreign investors were net buyers with a net inflow of LKR 117mn. Foreign participation was 18%. Net foreign inflows were seen in Hemas Holdings (LKR 124mn), John Keells Hotels (LKR 104mn) and Textured Jersey (LKR 9mn) while net foreign outflow was mainly seen in Commercial Bank (LKR 116mn).

Lanka Securities Research