Colombo stock market closed with positive returns on Tuesday amid lackluster trading session. ASI slightly gained 3.74 index points or 0.05% to close at 7,291.33 while 20-scrip S&P SL index marginally gained 5.79 index points (+0.14%) to end at 4,086.50. Price appreciations in counters such as National Development Bank (LKR closed at LKR 248.00, +1.6%), Sri Lanka Telecom (closed at LKR 50.00, +1.0%), Dialog Axiata (closed at LKR 13.40, +0.8%) contributed positively to index performance.

Daily market turnover was LKR 678mn. John Keells Holdings emerged as the top contributor to the turnover with LKR 194mn supported by several crossings of 0.51mn shares at 249.50. Access Engineering & Hatton National Bank (non-voting) were next contributors to the turnover with LKR 85mn & LKR 65mn respectively.

Further a single crossing was recorded in Hatton National Bank non-voting (0.3mn shares at LKR 150.00). Aggregate value of crossings represented 25% of the total turnover.

Out of 233 counters, 91 advanced, 85 slipped while 57 counters remained unchanged. Cash map advanced to 46% from 35%. 5 counters touched 52wk low prices while Panasian Power reached 52wk high price of LKR 3.20 and closed at LKR 3.10.

Access Engineering, MTD Walkers & Union Bank counters were heavily traded during the session. Subsequent to the listing of right issue shares of Sanasa Development Bank, counter was traded heavily and closed at lower at LKR 91.50 (-5.0%).

Blue Diamonds rights commenced trading today and the rights of voting share closed at LKR 0.30 (-40%) while rights of non-voting share closed at LKR 0.10 (+100%).

Diversified holdings such as John Keells Holdings (LKR 249.00, +0.2%), Vallibel One (LKR 23.60, +0.4%) & Aitken Spence (LKR 103.50, +1.4%) advanced during the day.

Foreign investors were net buyers for the fifth consecutive day with net inflow of LKR 163mn. Foreign participation was 19%. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 91mn), National Development Bank (LKR 21mn), Hemas Holdings (LKR 19mn) whereas net foreign outflow was mainly seen in Seylan Bank non-voting (LKR 1mn).

Siyapatha Finance announced that the debentures of the company will be listed on 31^st December 2014.

Lanka Securities Research