manusath-derana

Stock Market Review

April, 10, 2014

Equity market ended on Thursday with negative returns as All share price index declined by 8.50 (-0.14%) points to close at 6,075.05 and S&P SL 20 index declined by marginally 0.82 points (-0.02%) to close at 3,345.14. Price depreciations in counters such as Sri Lanka telecom (closed at LKR 47.50, -0.2%), John Keells Holdings (closed at LKR 238.00, -0.8%) and Asiri Hospitals (closed at LKR 21.50, -6.5%) contributed adversely to the index performances.

Daily market turnover was LKR 359mn. Lanka IOC topped the turn over list (LKR 91mn) underpinned by the single crossing (1.3mn shares at LKR 40.50 per share) recorded in today’s trading session. Accordingly, John Keells Holdings W0023 (LKR 59mn) and Royal ceramic (LKR 19mn) recorded the next best contributions to the market turnover.

Gainers outweighed the losers 93 to 77, while 69 counters remained unchanged. Cash map improved to 62% from 58%. 8 counters reached to 52wk high price levels while 10 counters touched 52wk low price levels.

Moreover, Lanka IOC, John Keells Holdings W0023 and Sanasa Development Bank traded heavily during the day.

Foreign participation was low at 4% for the day. Foreign investors were net buyers with a net inflow of LKR 2mn. Net foreign inflows were seen in Hayleys (LKR 3.8mn), John Keells Holdings (LKR 2.8mn) and Commercial Bank (LKR 2.3mn) whilst net foreign outflow was mainly seen in Aitken Spence (LKR 2.9mn).

Further Central Finance declared a second interim dividend of LKR 0.85 per share during today’s trading session and the counter closed at LKR 186.00, +0.5%.

Additionally National Development Bank made an announcement to CSE informing that they have divested the investment of 35% (224,875 shares) stake in Maldives Finance Leasing Company (Pvt) Ltd (a company incorporated in the republic of Maldives) at a price of USD 1.1mn.

Lanka Securities Research