Colombo bourse regained lost ground on Thursday where both indices witnessed positive returns amid higher foreign participation. All share index bagged 39.33 index points (+0.54%) to end at 7,306.17 while 20-scrip S&P SL index improved by 38.72 index points or 0.95% to close at 4,113.34.

Price advances in Dialog Axiata (closed at LKR 12.30, +2.5%), Selinsing (closed at LKR 1,960.00, +20.6%) & Carson Cumberbatch (closed at LKR 420.00, +2.1%) pushed the index performance to the positive territory.

Daily market turnover was LKR 1.8bn. Commercial Bank emerged as the top contributor to the turnover with LKR 624mn supported by numerous crossings of 3.3mn at LKR 180.00-181.00. John Keells Holdings and Hatton National Bank were next contributors to the turnover with LKR 343mn & LKR 176mn respectively.

Several crossing were recorded in Amana Bank (6.1mn shares at LKR 5.40) and John Keells Holdings (0.6mn shares at LKR 210.00) respectively. Aggregate value of crossings represented 41% of the total turnover.

Gainers outweighed the losers 115 to 73 while 66 counters remained unchanged. Cash map advanced to 64% from 45%. 6 counters managed to reach 52wk high price while 8 counters touched 52wk low price levels.

Eastern Merchants counter was the most favored stock for the second consecutive day. Stock reached a new 52wk high of LKR 14.10 and closed lower at LKR 12.20 (+6.1%). Both Hatton National Bank voting & non-voting counters reached 52wk high prices of LKR 240.00 (+2.0%) & LKR 180.00 (+1.1%) respectively.

Multi Finance dropped by 9.8% to LKR 25.00 following the release of negative earnings for the December quarter. Meanwhile Commercial Development advanced to LKR 110.10 (+4.9%) supported by favorable earnings in December quarter.

John Keells Holdings, Janashakthi Insurance & Vallibel Power were among heavily traded counters for the day.

Foreign investors were net sellers with a net outflow of LKR 201mn. Foreign participation was 47%. Net foreign outflows were seen in Commercial Bank (LKR 303mn), Hatton National Bank non-voting (LKR 18mn), Carson Cumberbatch (LKR 8mn) while net foreign inflow was mainly seen in John Keells Holdings (LKR 41mn).

Please note that Ascot Holdings warrants will be listed on 24th February 2015.

Lanka Securities Research