Colombo stock market concluded weekly operations on a mixed note amid notable net foreign outflows. ASI marginally increased by 0.73 index points or 0.01% to end at 7,233.71 while 20-scrip S&P SL index declined by 4.60 index points or 0.11% to close at 4,008.42. Price appreciations in counters such as Good Hope (closed at LKR 1,800.00, +12.4%) & Selinsing (closed at LKR 1,650.00, +10.0%) contributed positively to the ASI performance while price declines in John Keells Holdings (closed at LKR 251.10, -1.0%) & Commercial Bank (closed at LKR 156.10, -0.7%) adversely affected the S&P SL20 index performance.

Daily market turnover was LKR 2.7bn. Several crossings were recorded in John Keells Holdings (4.0mn shares at LKR 251.00), Hemas Holdings (4.6mn shares at LKR 61.50), Hatton National Bank (0.3mn shares at LKR 183.00), CIC Holdings (0.5mn shares at LKR 87.00), Ceylon Tobacco (0.02mn shares at LKR 1,155.00) & Textured Jersey (1.0mn shares at LKR 20.40). Aggregate crossings represented 52% of the total turnover.

Accordingly, John Keells Holdings top the turnover list with LKR 1.1bn followed by Hemas Holdings (LKR 302mn) & Hatton National Bank (LKR 156mn).

Taprobane Holdings, Dunamis Capital & Seylan Developments attracted heavy investor interest during the session. Further, Asia Asset Finance rights commenced trading today and the rights closed at LKR 0.30.

Non-Bank Finance Institutions such as Singer Finance, Asia Asset Finance, Orient Finance, George Steuart Finance & Browns Investments were among heavily traded counters.

Out of 284 counters, 127 advanced, 93 slipped while 64 remained unchanged. Cash map declined to 48% from 57%. 34 counters reached 52wk high prices while Lucky Lanka Milk processing non-voting counter & Nation Lanka Finance touched to 52wk low price levels.

Arpico Finance announced that the company has disposed shares of Alfinco Insurance Brokers (Pvt) Ltd for a consideration of approx. LKR 186mn to Alfinco Insurance Brokers (Pvt) Ltd.

Meanwhile rating of the First Capital Holdings has been upgraded to “A- and P2” from “BBB+ and P2” by Lanka Rating Agency Ltd.

Foreign investors were net sellers with net outflow of LKR 711mn worth of equities. Foreign participation was 36%. Net outflows were seen in counters such as John Keells Holdings (LKR 1.1bn), John Keells Holdings warrant 0022 (LKR 39mn), Lanka Tiles (LKR 9mn) while inflows was mainly seen Hemas Holdings (LKR 300mn).

Lanka Securities Research