Colombo bourse started the weekly operations on positive note as both indices closed with higher returns. Benchmark All share price index marginally gained 4.45 points or 0.06% to end at 7,238.16 while 20-script S&P SL index gained 10.58 points or 0.26% to end at 4,019.00.

The gains were mainly led by the price inclines in counters such as Lion Brewery (closed at LKR 634.90, +3.1%), People’s Leasing (closed at LKR 19.90, +3.7%) and DFCC Bank (closed at LKR 199.00, +1.4%). Price movements in sectors such as Information Technology, Motors and Banks Finance & Insurance affected favorably to the index movement.

Daily market turnover reached a nearly 2 week high of LKR 3.5bn underpinned by the hefty negotiated deals recorded in John Keells Holdings where 5.5mn shares changed hands at LKR 251.00 per share. JKH crossings accounted for 40% of the market turnover. Further, several crossings were recorded in People’s Leasing (4.2mn shares at LKR 19.80 per share), Seylan Bank non-voting (0.8mn shares at LKR 54.00 per share), Commercial Bank (0.2mn shares at LKR 157.50 per share) and Ceylon Tobacco (0.02mn shares at LKR 1,155.00 per share). The aggregate value of crossings represented 45% of the total market turnover.

John Keells Holdings contributed 62% of the daily turnover with LKR 2.1bn followed by People’s Leasing (LKR 113mn) and First Capital Holdings (LKR 108mn).

Out of 272 counters traded, 113 slipped, 107 advanced while 52 remained unchanged. Cash map declined to 34% from 48%. 23 counters reached 52wk high prices while George Steuart Finance and Nation Lanka Finance touched to 52wk low price levels.

Meanwhile shares of Dunamis Capital, First Capital Holdings and Janashakthi Insurance attracted heavy investor interest and closed at 52wk high price levels during the session. Dunamis capital closed at LKR 38.80, + 21.6% while First Capital Holdings and Janashakthi Insurance closed at LKR 56.00 (+13.1%) and LKR 23.90 (+6.2%) respectively.

Foreign investors continued to be net sellers with net outflow of LKR 1.9bn worth of equities. Foreign participation was 38%. Net outflows were seen in counters such as John Keells Holdings (LKR 2.1bn), Cargills (LKR 17mn) and E-Channeling (LKR 16mn) while inflows was mainly seen People’s Leasing (LKR 100mn).

Union Chemicals Lanka declared a first interim dividend of LKR 7.00 per share.

Union Bank announced that Culture Financial Holdings Ltd has invested LKR 11.4bn through a private placement of 742mn ordinary voting shares at LKR 15.30. Subsequent to the private placement, Culture Financial Holdings Ltd holds 68% stake in Union Bank.

Lanka Securities Research