Stock Market Review – 26th Aug 2014

August, 26, 2014

Colombo bourse closed with mixed returns on Tuesday where benchmark All share price index advanced by 29.29 points (+0.42%) to end at 7,013.32 while S&P SL 20 index marginally lost 3.42 points (-0.09%) to end at 3,851.85.

Price appreciation in counters such as Richard Pieris (closed at LKR 9.20, +18%), Commercial Leasing & Finance (closed at LKR 4.50, +4.7%) and Sri Lanka Telecom (closed at LKR 54.90, +1.7%) affected positively to the core index while price declines John Keells Holding (closed at LKR 242.50, -0.2%), DFCC Bank (closed at LKR 187.00, -0.5%) and Hayleys (closed at LKR 310.00, -1.4%) contributed negatively to the S&P SL 20 index performance.

Daily market turnover was LKR 1.7bn. Several crossings were recorded in John Keells Holdings (1.6mn shares at LKR 242.00-246.00 per share), Lanka IOC (2.8mn shares at LKR 41.00 per share) and Seylan Development (3mn shares at LKR 14.00 per share). Aggregate value of crossings represented 31% of the total market turnover.

John Keells Holdings emerged as the top contributor to the market turnover with LKR 432mn followed by Lanka IOC (LKR 228mn) and Richard Pieris (LKR 88mn).

Meanwhile shares of Lanka Cement, HVA Foods and Richard Pieris traded heavily during the session.

Foreign investors were net buyers with net inflow of LKR 480mn worth of stocks. Foreign participation was 17%. Foreign net inflows were seen in counters such as John Keells Holdings (LKR 232mn), Sampath bank (LKR 28mn) and Ceylon Tobacco (LKR 20mn) while foreign net outflow was mainly seen in Laugfs gas (LKR 12mn).

Further Trade Finance & Investments declared a final dividend of LKR 1.00 per share. Counter closed at LKR 27.40 with a gain of +2.2%. Mackwoods Energy declared a first & final dividend of LKR 0.10 per share. Moreover, Hikkaduwa beach resort declared a first & final dividend of LKR 0.12 per share.

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