Colombo equity market ended on a positive note where both indices witnessed marginal returns. Main index crossed 7,000 mark and earned 4.78 index points or 0.07% to closed at 7,004.75. This is the first time after 3 years the core index crossed & closed beyond 7,000 mark.

S&P SL20 index gained 0.30 index points or 0.01% to end at 3,862.91. Price appreciations in equities such as John Keells Holdings (closed at LKR 248.00, +1.2%), Lion Brewery (closed at LKR 624.90, 2.4%) and Taprobane Holdings (closed at LKR 4.70, +74%) contributed favorably to index performance.

Daily market turnover was LKR 1.5bn. Several off-the-floor dealings were recorded in counter such as Lanka IOC (1.9mn shares at LKR 37.60), Hatton National Bank (0.2mn shares at LKR 136.20), Chevron Lubricants (0.1mn shares at LKR 314.00) & Browns Investments (18.2mn shares at LKR 1.50). Aggregate value of crossings represented 11% of the total turnover.

Lanka Century Investments emerged as the top contributor to the turnover with LKR 139mn followed by John Keells Holdings (LKR 126mn) & Industrial Asphalts (LKR 90mn).

Out of 278 counters, 141 counters advanced, 89 counters slipped & 48 counters remained unchanged. Cash map marginally advanced to 57% from 56%. 29 equities reached 52wk high prices while single counter touched 52wk low price levels.

Further Samson International announced that company would issue shares through capitalization of reserves. During the session counter reached 52wk high price of LKR 137.90 and closed at LKR 130.00 (+6.6%).

Both Lanka Century Investments share & warrant 0006 and Taprobane Holdings counters attracted heavy investor interest during the session.

Foreign investors were net buyers with net inflow LKR 88mn worth of equities. Foreign participation was 8%. Net foreign inflows were seen counters such as Chevron Lubricants (LKR 41mn), Ceylon Cold Stores (LKR 27mn), Dialog Axiata (LKR 26mn) while net outflow was mainly seen in Lanka Century Investments (LKR 12mn).

Lanka Securities Research