Colombo stock market started its’ weekly operations on a positive note where ASI managed to reach 6,300 mark after 11 months. ASI gained 18.29 index points or 0.29% to close at 6,303.16 while 20-scrip S&P SL index up by 23.65 index points or 0.68% to end at 3,480.91. Price appreciations in Bukit Darah (closed at LKR 680.00, +4.8%), Asian Hotels & Properties (closed at LKR 73.50, +5.0%), Trans Asia Hotels (closed at 94.90, +5.7%) and Dialog Axiata (closed at LKR 9.50, +1.1%) contributed positively to the index performance.

Daily market turnover reached LKR 866mn with the support of several crossings recorded in Chevron Lubricants (0.35mn shares at LKR 275.00), Commercial Bank (0.25mn shares at LKR 128.00), John Keells Holdings (0.22mn shares at LKR 235.00) and Ceylon Tobacco Company (0.06mn shares at LKR 1,080.00). Aggregate value of the total crossings represented 41% of the turnover.

Accordingly Chevron Lubricants topped the turnover list with LKR 111mn followed by Softlogic Holdings (LKR 86mn) and John Keells Holdings (LKR 84mn) respectively.

Moreover Sierra Cables, Softlogic Holdings and Bimputh Finance attracted heavy investor participation during the session.

Gainers outweighed the losers 108 to 97, while 65 counters remained unchanged. Cash map improved to 65% from 55%. 11 equities managed to touch 52wk high price levels.

Foreign investors were net buyers with net inflow of LKR 121mn. Foreign participation was 37%. Foreign inflows were seen in John Keells Holdings (LKR 66mn), Commercial Bank (LKR 42mn), Hatton National Bank (LKR 23mn) while foreign outflow was mainly seen in Asian Hotels and Properties (LKR 22mn).

Lanka Securities Research