Colombo equity market started the weekly operations on a mixed note where All Share index managed to maintain the positive momentum gained in the last session. Main index bagged 11.40 index points or 0.16% to close at 7,326.31 while 20-scrip S&P SL index marginally declined by 5.52 index points (-0.13%) to end at 4,127.49.

Price appreciations in Ceylon Tobacco (closed at LKR 1,069.50, +4.8%), Aitken Spence Hotel Holdings (closed at LKR 80.00, +2.6%), Ceylon Cold Stores (closed at LKR 295.00, +7.3%) contributed favorably to the main index performance while price declines in Commercial Bank (closed at LKR 179.00, -0.4%), John Keells Holdings (closed at LKR 207.50, -0.2%) & Nestle Lanka (closed at LKR 2,360.00, -0.2%) affected the S&P SL20 index performance.

Daily market turnover was LKR 1bn. John Keells Holdings top the turnover list with LKR 156mn underpinned by two crossings of 0.3mn shares at LKR 208.00. Sanasa Development Bank and Commercial Bank were next best contributors to the total turnover with LKR 130mn and LKR 110mn respectively.

Numerous crossings were recorded in Ceylon Cold Stores (0.1mn shares at LKR 300.00), Ceylon Investment (0.2mn shares at LKR 98.00) & Commercial Bank (0.5mn shares at LKR 179.00). Aggregate value of crossings represented 18% of the total turnover.

Gainers offset the losers 107 to 105, while 53 counters remained unchanged. Cash map improved marginally to 54% from 50%. 11 counters managed to reach 52wk high prices while 7 counters touched 52wk low price levels.

Following to the announcement of right issue, Hemas Holdings declined sharply to LKR 78.00 but closed higher at LKR 79.60 (-6.4%). Meanwhile Hatton National Bank non-voting counter reached 52wk high price of LKR 181.00 (+1.1%) subsequent to the dividend announcement. Hatton National Bank voting share declined by 0.1% to LKR 240.00.

CIC Holdings declared an interim dividend of LKR 1.00 per share while Colombo City Holdings announced an interim dividend of LKR 5.00 per share.

F L C Hydro Power attracted heavy investor preference during the day and counter reached to 52wk high price of LKR 8.20 (+24.2%). Sanasa Development Bank, John Keells Holdings & Vidullanka were among heavily traded counters.

Foreign investors were net buyers with a net inflow of LKR 98mn. Foreign participation was 28%. Net foreign inflows were seen in Hatton National Bank (LKR 35mn), Hemas Holdings (LKR 32mn), Ceylon Cold Stores (LKR 30mn) while net foreign outflow was mainly seen in Commercial Bank (LKR 82mn).

Lanka Securities Research