Stock Market Review

April, 30, 2014

Equity market managed to retain the positive momentum as both indices closed with high returns. Benchmark All share price index gained 37.42 points (+0.6%) to end at 6,223.67 while S&P SL 20 index gained 12.87 points (+0.38%) to close at 3,418.19. Price improvements in counters such as Ceylon Tobacco (closed at LKR 1,100.00, +3.3%), Lion Brewery (closed at LKR 434.00, +7.1%) and Ceylinco Insurance (closed at LKR 1,360.00, +7%) contributed positively to the index performance.

Gainers exceeded the losers 131 to 86, while 59 equities remained unchanged. Cash map declined to 54% from 59%.

Daily market turnover recorded a 3-week high of LKR 1.2bn while the share volume recorded a 4-week high of 53mn. John Keells Holdings the topped the turnover list (LKR 179mn) underpinned by negotiated transactions of 0.48mn shares at LKR 238.00 per shares. Aitken Spence (LKR 176mn) and Union Bank (LKR 70mn) recorded next best contributions to the market turnover. Further, another crossing was recorded in First Capital Holdings where 3mn shares changed hands at LKR 22.00 per share.

Meanwhile, George Steuart Finance continued to attract heavy investor interest during today’s trading session followed by Laxapana Batteries, Union Bank and The Finance non-voting.

Foreign investors were net sellers with a net outflow of LKR 55mn. Foreign participation was 28%. Foreign outflows were seen in Aitken Spence (LKR 124), Chevron Lubricants (LKR 41mn) and Union Assurance (LKR 18mn) while foreign inflow was mainly seen in John Keells Holdings (LKR 95mn).

Lanka Securities Research

Video Story

Stock Market

Exchange Rates