Equity Market managed to sustain the favorable momentum on Tuesday as both indices closed with positive returns. All share price index advanced marginally by 4.80 points (+0.08%) to end at 6,191.83 where S&P SL 20 index advanced marginally by 2.48 points (+0.07%) to end at 3,397.42. Positive index performances were mainly led by price appreciations in Ceylon Tobacco (closed at LKR 1,120.00, +2%), John Keells Holding (closed at LKR 239.40,+0.2%) and Aitken Spence Hotels (closed at LKR 75.90, +3.3%).

Daily Market turnover was LKR 551mn. A single crossing was recorded in Commercial bank (approx. 0.46mn shares at LKR 127.50 per share) which was 11% of the total turnover. John Keells Holding (LKR 103mn) emerged as the top contributor to the market turnover followed by Commercial bank (LKR 89mn) and Piramal Glass (LKR 26mn).

Piramal Glass managed to attract heavy investor interest during today’s trading session subsequent to the declaration of first & final dividend of LKR 0.38 per share (Dividend yield of 10% at today’s closing price of LKR 3.80, +2.7%). Further Orient Garments, Seylan Developments and John Keells Holdings Warrant 0022 were among mostly traded counters.

Moreover, Print Care declared a final dividend of LKR 0.50 per share during the trading session.

Meanwhile, Adam Investments is offering approx. 133.33mn ordinary voting shares at LKR 3.00 per share through an IPO.   The prospectus of this IPO will be available from 06^th May 2014.

Foreign investors continued to be net buyers with net inflow of LKR 179mn. Foreign participation was 25%. Foreign inflows were seen in counters Commercial Bank (LKR 87.6mn), John Keells Holdings (LKR 59.3mn) and Seylan Bank non-voting (LKR 10.3mn) while outflow was mainly seen in Aitken Spence (LKR 7.4mn).

Cash map declined to 62% from 65%.

Lanka Securities Research