Stock Market Review – 26th June 2014

June, 26, 2014

Colombo Shares closed with higher returns on Thursday, as All share price index gained 6.61 points (+0.10%) to close at 6,328.16 while 20-script S&P SL index gained 5.99 points (+0.17%) to close at 3,507.54. Price appreciation in Commercial Bank (closed at LKR 137.50, +1.9%), Property Development (closed at LKR 123.90, +21%) and Nestle Lanka (closed at LKR 1,950.00, +1%) contributed positively to the index performances.

Daily market turnover was LKR 485mn. Several negotiated deals were recorded in Hemas Holdings (1mn shares at LKR 43.50 per share), Lanka IOC (0.6mn shares at LKR 38.00 per share), Commercial Bank (0.2mn shares at LKR 137.00 per share) and Expolanka (2mn shares at LKR 10.00 per share). Total crossings represented 22% of the total market turnover. Hemas Holdings (LKR 55mn) emerged as the top contributor to the market turnover followed by Commercial Bank (LKR 53mn) and Lanka IOC (LKR 40mn).

Ceylon Leather Products Warrant0014 and Central Investment & Finance managed to further attract heavy investor interest during the day while PC House and PC Pharma were also among the heavily traded stocks.

Gainers outweighed the losers 119 to 74, while 69 counters remained unchanged. Cash map inclined to 58% from 49%.

Property Development emerged as the biggest gainer in today’s trading session followed by Ceylon Printers (closed at LKR 1,499.90, +15%) while Ceylon Leather Products Warrant0014 (closed at LKR 2.80, -15%) and Warrant0013 (closed at LKR 1.10, -15%) recorded biggest losses for the day.

Foreign investors were net buyers with net inflow of LKR 47mn. Foreign participation was 22%. Foreign inflows were seen in Commercial Bank (LKR 52.0mn), ACME Printing (LKR 12.7mn) and Distilleries (LKR 8.7mn) while foreign outflow was mainly seen in Lanka IOC (LKR 34.2mn).

Meanwhile Vidullanka made an announcement to CSE informing that they have successfully completed the construction of 4MW Lower Kotmale Mini Hydro Power Plant and the plant was connected to grid on 25th June 2014. Vidullanka declared an interim dividend of LKR 0.075 per share during today’s trading session.  The counter closed at LKR 4.10 with a gain of 2.5%.

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