Colombo bourse managed to uphold the positive momentum on Tuesday amid the monetary board’s decision to continue with unchanged interest rates. All share index bagged 51.57 index points (+0.70%) to end at 7,367.65 while S&P SL20 index simultaneously gained 33.69 index points or 0.82% to close at 4,130.43.

Price appreciation in John Keells Holdings (closed at LKR 234.90, +2.9%), Nestle Lanka (closed at LKR 2,325.00, +2.8%) and Commercial Bank (closed at LKR 180.50, +0.3%) favorably affected the index performance.

Daily market turnover reached LKR 1.1bn supported by several crossings recorded in Commercial Bank (0.5mn shares at LKR 181.00), John Keells Holdings (0.3mn shares at LKR 230.00) & Distilleries (0.3mn shares at LKR 232.00). Aggregate value of crossings represented 20% of the total turnover.

John Keells Holdings topped the turnover list with LKR 344mn followed by Commercial Bank (LKR 120mn) & Distilleries (LKR 77mn) respectively.

Out 249 counters, 138 advanced, 56 slipped while 55 counters remained unchanged. Cash map slightly declined to 57% from 60%. 4 counters reached 52wk high prices and 8 counters touched 52wk low price levels.

Palm Garden Hotel rights and Ascot Holdings rights were traded heavily on the renunciation date. Palm Garden Hotel rights reached an intra-day high of LKR 0.60 and closed at LKR 0.30 (-75.0%). Ascot Holdings rights reached a high of LKR 50.20 and closed at LKR 49.90, (+24.1%).

Piramal Glass counter attracted heavy investor interest and counter reached to 52wk high price of LKR 6.10. Stock closed at LKR 6.00 (+3.5%).

Further Union Bank, Access Engineering & John Keells Holdings were among most favored counters.

Subsequent to the listing of right shares of Amana Takaful, counter declined to 52wk low of LKR 1.20 and end at LKR 1.40.

Foreign investors were net sellers today with net foreign outflow of LKR 87mn. Foreign participation increased notably to 48%. Net foreign outflows were seen in John Keells Holdings (LKR 65mn), Chevron Lubricants (LKR 18mn), Union Bank (LKR 17mn) while net foreign outflow was mainly seen in DFCC Bank (LKR 22mn).
Meanwhile Chairman of the Merchant Bank of Sri Lanka & Finance has step down from the Chairmanship with effect from 23rd January 2015.

Lanka Securities Research