Colombo shares extended losses on Thursday as main bourse lost 2.58 points (-0.04%) to end at 6,781.40 while S&P SL 20 index lost 7.94 points (-0.21%) to close at 3,767.20. Price declines in Good Hope (closed at LKR 1,500.00, -22.7%), Carson Cumberbatch (closed at LKR 480.00, -2%) and Lion Brewery (closed at LKR 630.00, -5%) affected adversely to the index performance.

Market turnover was LKR 950mn. Lanka Century Investments (LKR 163mn) emerged as the top contributor to the turnover followed by Softlogic Holdings (LKR 93mn) and John Keells Holdings (LKR 86mn).  Two crossings were recorded in Commercial Bank (0.3mn shares at LKR 145.00 per share) and Hatton National Bank (0.1mn shares at LKR 171.00 per share).

Gainers surpassed the losers 118 to 103 while 53 equities remained unchanged. Cash map slightly improved to 52% from 49% in the previous session. 33 equities reached 52wk high price level whereas only Asia Capital and Agstar Fertilizers touched 52wk low prices.

Meanwhile shares of Lanka Century Investments, Guardian Capital Partners and Dankotuwa Porcelain attracted heavy investor interest.

Foreign investors were net buyers with net inflow of LKR 56mn worth of equities. Foreign participation was 27%. Foreign inflows were seen in counters such as Softlogic Holdings (LKR 92mn), John Keells Holdings (LKR 84mn) and Chevron Lubricants (LKR 12mn) while foreign outflow was mainly seen in Lanka Century Investments (LKR 128mn).

Lanka Orix Finance made and announcement to CSE informing that they have fully settled the matter with Dynaris Holdings and therefore the sequestration order has now been lifted.  Lanka Orix Finance obtained a court order on 11th July preventing Dynaris Holding from disposing their assets as they were due approximately LKR 100mn to Lanka Orix Finance.

Lanka Securities Research