Colombo equities witnessed a positive trading momentum on Tuesday where both indices recorded gains. Main bourse gained 11.52 index points or 0.18% to end at 6,310.87 while S&P SL20 index gained 21.19 index points or 0.61% to end at 3,496.12. Price increases in equities such as John Keells Holdings (closed at LKR 221.60, +0.7%), Commercial Bank (closed at LKR 134.50, +0.8%) and Dialog Axiata (closed at LKR 10.50, +1.0%) contributed favorably to the index performance.

Daily market turnover was LKR 875mn. Several crossings were recorded in Acme Printing and Packaging (1.67mn shares at LKR 17.40), John Keells Holdings (0.96mn shares at LKR 221.00), Hemas Holdings (0.50mn shares at LKR 43.50), Distilleries (0.35mn shares at LKR 205.10) and Hatton National Bank (0.25mn shares at 156.00). Aggregate value of crossings represented 43% of the total market turnover.

Accordingly John Keells Holdings emerged as the top contributor for the turnover with LKR 313mn followed by Distilleries (LKR 73mn) and Hatton National Bank (LKR 38mn).

Meanwhile Asia Siyaka Commodities declared an interim dividend of LKR 0.20 per share and counter closed at LKR 3.60 (+2.9%). Further new shares of Bimputh Finance were listed on CSE today subsequent to the right issue and stock declined by 2.2% to end at LKR 35.20.

Gainers exceeded losers 112 to 79, while 57 equities remained unchanged. Cash map improved to 59% from 40%. 11 stocks managed to reach 52wk high prices while 3 stocks touched 52wk low price levels.

Moreover, penny stocks such as PCH Holdings, PC Pharma and Adam Investments attracted heavy investor preference during the session.

Foreign investors were net buyers with net inflow of LKR 331mn. Foreign participation was 29%. Foreign inflows were seen in counters such as John Keells Holdings (LKR 194mn), Hatton National Bank (LKR 38mn), Acme Printing & Packaging (LKR 31mn) while foreign outflow was mainly seen in CIC Holdings (LKR 14mn).

Lanka Securities Research