June, 30, 2014
Colombo shares retained the momentum gained in last week and began the weekly operations with positive returns. Benchmark All Share Price index inclined by 15.13 points (+0.24%) to end at 6,378.62 while S&P SL 20 index inclined by 13.58 points (+0.39%) to end at 3,534.43. Price progression in counter such as Ceylon Tobacco (closed at LKR 1,065.00, +1.5%), Shalimar Malay (closed at LKR 2,180.00, +0.9%) and Commercial Bank (closed at LKR 140.00, +0.4%) affected positively to the index performance.
Daily market turnover reached nearly 6-week high of LKR 1.5bn underpinned by several crossings recorded in John Keells Holdings (1.2mn shares at the price range of LKR 219.90-220.00 per share), Sunshine Holdings (1mn shares at LKR 33.00 per share) and Distilleries (0.2mn shares at LKR 207.00 per share). Aggregate value of crossings represented 23% of the total market turnover. John Keells Holdings topped the turnover list (LKR 490mn) followed by Sunshine Holdings (LKR 220mn) and Commercial Bank (LKR 138mn).
Meanwhile shares of Adam Investments, PCH Holdings and Grain Elevators managed to attract heavy investor interest during the day.
Gainers surpass the losers 124 to 90, while 53 counters remained unchanged. Cash map improved to 68% from 49%.
Foreign investors were net buyers with net inflow of LKR 185mn whereas foreign participation was at 40%. Foreign inflows were seen in Commercial Bank (LKR 133mn), John Keells Holdings (LKR 103mn) and Hatton national Bank (LKR 40mn) while outflow was mainly seen in Sunshine Holdings (LKR 161mn).
Further Sri Lanka Telecom made an announcement to CSE informing that SLT Hong Kong Limited, fully owned subsidiary of SLTL was liquidated with effect from 18Th May 2014.
Ceylon Tea Brokers declared a first & final dividend of LKR 0.25 per share and managed to close with higher returns. Counter closed at LKR 5.30 with a gain of 3.9%.
Moreover, as per the Colombo Consumers’ Price index (CCPI) released today by the statistics department, the inflation further dropped to 2.8% in June (3.2% in May) whereas annual average inflation stood at 4.9% (5.3% in May).
Lanka Securities Research
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