Colombo bourse managed to maintain the momentum gained yesterday where both indices witnessed positive returns. Benchmark index gained 23.13 points (+0.37%) to end at 6,275.73 while 20-scrip S&P SL index gained 12.81 index points or 0.37% to close at 3,446.76. Price appreciations in Nestle Lanka (closed at LKR 1,985.00, +2.3%), Bukit Darah (closed at LKR 630.00, +2.8%), Asian Hotels & Properties (closed at 67.00, +3.2%) and Lanka Orix Leasing and Company (closed at LKR 80.10, +2.6%) contributed positively to the index performance.

Daily market turnover reached LKR 935mn with the backing of several crossings recorded in Distilleries (0.55mn shares at LKR 206.00), Royal Ceramic Lanka (0.89mn shares at LKR 106.00), Aitken Spence Hotels (0.70mn shares at LKR 78.00), Commercial Bank (0.34mn shares at LKR 127.50), John Keells Holdings (0.10mn shares at LKR 235.00) and Lanka IOC (0.50mn shares at LKR 43.00). Aggregate value of the total crossings represented almost 38% of turnover.

Distilleries topped the turnover list with LKR 193mn followed by Lanka IOC (LKR 117mn) and Commercial Bank (LKR 102mn) respectively.

Moreover Lanka IOC, Acme Printing & Packaging and Softlogic Holdings attracted heavy investor participation during the day. Further Dipped Products has declared final dividend of LKR 3.00 per share. Stock closed at 95.00 (+3.3%).

Gainers exceed the losers 132 to 62, while 71 equities remained unchanged. Cash map marginally declined to 54% from 57%. 5 stocks managed to touch 52wk high price levels.

Foreign investors were net buyers for the fourth consecutive day with net inflow of LKR 138mn. Foreign participation was 32% for the session. Foreign inflows were seen in counters such as Commercial Bank (LKR 87mn), John Keells Holdings (LKR 26mn), Amana Bank (LKR 12mn) while foreign outflow was mainly seen in Expolanka (LKR 5mn).

Lanka Securities Research