Colombo equities conclude the weekly operations in a mixed note on Friday where main index bagged 38.01 points or 0.53% to end at 7,153.90 and 20 script S&P SL 20 index lost marginally 6.03 points or 0.15% to end at 3,971.12. During the week All share price index lost 247.72 points (-3.3%) while S&P SL 20 index lost 156.14 points (-3.8%) amid tense political situation.

Positive price movement in counters such as  Bukit Darah (closed at 730.00, +2.2%), Access Engineering (closed at LKR 37.50, +5%) and Sri Lanka Telecom (closed at 47.50, +1.5%) contributed favorably to the ASI performance while Commercial Bank (closed at LKR 159.00, -1%), John Keells Holdings (closed at LKR 241.00, -0.5%) and Hatton National Bank (closed at LKR 186.00, -2.7%) affected adversely to the S&P SL 20 index.

Further sectors such as Information Technology (+9%), Footwear & Textiles (+4%) and Power & Energy (+ 2%) advanced during the session.

Daily market turnover reached 2.1bn underpinned by several crossings recorded in Lanka Ashok Leyland (0.1mn shares at LKR 1,500.00 per share), Central Finance (2.5mn shares at LKR 249.00 per share), Commercial Bank (0.2mn shares at LKR 158.00 per share), Bairaha Farms (0.8mn shares at LKR 118.10 per share), Access Engineering (8.8mn shares at LKR 36.00-36.50 per share), Union Bank (1.5mn shares at LKR 24.60 per share) and Asiri Hospital Holdings (2mn shares at LKR 22.30 per share). Crossing of Central Finance accounted for 30% of the daily turnover while aggregate value of total negotiated deals represented 64% of the total market turnover.

Central Finance emerged as the top contributor to the market turnover with LKR 632mn followed by Access Engineering (LKR 391mn) and Lanka Ashok Leyland (LKR 174mn).

Gainers outweighed the losers after eight consecutive days where 176 counters advanced, 39 slipped and 42 equities remained unchanged. Cash map inclined to 52% from 46%.

Meanwhile shares of Lanka Cement, Access Engineering and Lanka IOC attracted heavy investor interest during the session.

Foreign investors were net buyers for the 17^th consecutive day with net inflow of LKR 324mn. Foreign participation was 14%. Net foreign inflows were seen in counters such as Access Engineering (LKR 286mn), Tokyo Cement non-voting (LKR 51mn) and Asiri Hospital Holdings (LKR 44mn) while net foreign outflow was mainly seen in John Keells Holdings (LKR 30mn).

Arpico Insurance Limited has obtained the approval for listing in Diri Savi Board through an initial public offering of 6.6mn ordinary voting shares at LKR 12.00 per share.

Hunter & Company announced that they have sold a land together with the buildings situated at Bankshall Street, Colombo for a total consideration of LKR 253.5mn to Supemova Holdings (Pvt) Ltd.

Further, Union Assurance announced that they obtained the shareholder approval for segregation of the company’s long term and general insurance business. The company will continue to carry on the long-term insurance business and transfer its general insurance business to its wholly owned subsidiary, Union Assurance General Limited. Furtehr, the company also obtained the approval for the sale of 78% of the stake in Union Assurance General Limited to Fairefax Asia Limited and its nominees.

Moreover the issue of 20mn rated, unsecured, redeemable debentures of Lion Brewery (Ceylon) opened for subscriptions today and was oversubscribed within hours of opening.

During the week, bourse witnessed net foreign inflow of LKR 1.2bn with a net foreign participation was 17%. Further Year-to-date net foreign inflow increased to LKR 20.4bn. Net foreign inflow was mainly seen in Dialog Axiata (LKR 565mn) whereas net foreign outflow was seen in John Keells Holdings (LKR 137mn) during the week.

Access Engineering emerged as the top contributor for the weekly turnover with LKR 818mn followed Central Finance (LKR 676mn) and John Keells Holdings (LKR 631mn). Office Equipment emerged as the top gainer for the week while Lanka Cement was the top loser subsequent to the acquisition of land by the Defence Ministry.

For the month of November, the All share price index lost 172.91 points (-2.4%) whereas S&P SL 20 index lost 116.26 points (-2.8%).

Lanka Securities Research