Colombo shares managed to regain lost ground on Thursday, as both indices closed with higher returns. All share price index advanced marginally by 5.36 points (+0.09%) to close at 6,178.13 while 20-script S&P SL index advanced by 21.01 points (+0.62%) to close at 3,394.56. Price improvements in counters such as Bukit Darah (closed at LKR 595.00, +10.0%), Sri Lanka Telecom (closed at LKR 49.00, +4.9%) and Trans Asia (closed at LKR 88.90, +6.9%) contributed favorably to the index performances.

Losers outweighed the gainers 92 to 83, while 74 counters remained unchanged. Cash map improved to 75 from 44.

Daily market turnover was LKR 1.13bn. George Stuart Finance (LKR 338.5mn) topped the turnover list underpinned by the crossing of 11.43mn shares at LKR 28.80 per share. The crossing was 50.8% from the issued quantity, which was held by Divasa Equity (Pvt) Ltd. According to the announcement made by the company, this stake was bought by George Stuart & Co. Limited.

John Keells Holdings (LKR 311.8mn) and Royal Ceramic (LKR 68.8mn) positioned as next best contributors to the market turnover. Several crossings were recorded in John Keells Holdings (0.41mn shares at LKR 239.00 per share), Sampath bank (0.14mn shares at LKR 190.00 per share) and Hatton National Bank non-voting (0.30mn shares at LKR 125.00 per share).

Meanwhile shares of George Stuart Finance, Union Bank and Sierra Cables were traded heavily during today’s session.

Further, Good Hope declared a final dividend of LKR 9.77 per shares and Selinsing declared a final dividend of LKR 11.43 per share. Additionally, Shalimar and Indo Malay declared final dividends of LKR 11.38 and 14.30 per share respectively.

Foreign Participation was 29% for the day while foreign investors were net buyers with net inflow of LKR 356mn. Foreign inflows were seen in counters such as John Keells Holdings (LKR 305mn), Sampath Bank (LKR 36mn) and Commercial Bank (LKR 22mn) while foreign outflow was mainly seen in Aitken Spence (LKR 10mn).

Lanka Securities Research