Stock Market Review – 30th July 2014

July, 30, 2014

Colombo equities managed to retain the momentum gained on last trading session where both indices closed with positive returns. Core index gained 17.57 index points or 0.26% to close at 6,801.84 while 20-scrip S&L index gained 6.75 index points or 0.18% to close at 3,768.18. Price appreciations in counters such as Ceylon Tobacco (closed at LKR 1,153.50, +4.8%), Dialog Axiata (closed at LKR 11.00, 1.9%), Lion Brewery (closed at LKR 644.80, 1.4%) & Ceylon Tea Services (closed at LKR 750.00, +2.7%) contributed favorably to index performance.

Daily market turnover was LKR 974mn. Several crossings were recorded in Royal Ceramic (0.84mn shares at LKR 105.00), Pan Asia Banking Corporation (1.39mn shares at LKR 21.00) and Amana Bank (21.43mn shares at LKR 7.50). Accordingly crossings represented 29% of the total turnover.

Accordingly Amana Bank topped the turnover list with LKR 161mn followed by John Keells Holdings (LKR 146mn) & Royal Ceramic (LKR 90mn).

Gainers offset the losers offset 104 to 100, while 68 counters remained unchanged. Cash map declined to 51% from 66%. 24 equities reach 52wk high price levels.

Lucky Lanka Milk Processing Company commenced trading today. The voting counter reached LKR 6.40 and closed at LKR 6.00. The non-voting counter reached to LKR 3.80 and end at LKR 3.60 (+20%). Lucky Lanka Milk Processing Company raised LKR 300 through IPO to retire debt of the company.

Further, Commercial Credit & Finance, Trade Finance & Investments and PCH Holdings were among highly trade counters. Subsequent to the release of interim results of John Keells Hotels share reached LKR 16.00 (+2.6%).

Raigam Wayamba Salterns & Swedeshi Industrial Works declared final dividends of LKR 0.10 per share and LKR 1.00 per share respectively.

Foreign investors were net buyers with LKR 151mn worth of equities. Foreign participation was 18%. Foreign inflows were seen in counters such as Royal Ceramic (LKR 87mn), John Keells Holdings (LKR 48mn), Ceylon Tobacco (LKR 13mn) while outflow was mainly seen in Cargills (Ceylon) (LKR 8mn).

Lanka Securities Research