May, 13, 2014
Colombo bourse shattered the four day winning splash on Tuseday, posting negative returns on both indices. Benchmark All share price index lost 18.20 points (-0.29%) to end at 6,284.96 while S&P SL 20 index marginally declined by 1.92 points (-0.06%) to end at 3,478.99. Price depreciation in counters such as Ceylon Tobacco (closed at LKR 1,070.00, -0.9%), Bukit Darah (closed at LKR 670.00, -1.5%) and Trans Asia (closed at LKR 90.00, -5.2%) contributed adversely to the index performances.
Daily market was LKR 758mn. Several off-the-floor deals were recorded in Ceylinco Insurance (0.08mn shares at LKR 1,250.00 per share) and Commercial Bank (0.25mn shares at LKR 129.00 per share). Shalimar Malay (LKR 148mn) emerged as the top contributor to the market turnover followed by Ceylinco Insurance (LKR 106mn) and Commercial Bank (LKR 54mn).
Losers surpass the gainers 93 to 92, while 78 counters remained unchanged. Cash map declined to 42% from 65%.
Meanwhile penny stocks such as Piramal Glass, PCH Holdings and Vidullanka managed to attract heavy investor interest during today’s trading session.
Foreign investors were continued to be net buyers with net inflow of LKR 141mn. Foreign participation was 33%. Foreign inflows were mainly seen in banking sector counters such as Commercial Bank (LKR 51mn), National Development Bank (LKR 34mn) and Hatton National Bank (LKR 33mn) while foreign outflow was mainly seen in Sampath Bank (LKR 13mn)
Further, trading in shares of Sierra Cables was suspended today as per the request made by the board of directors of the company. According to the announcement made to CSE the auditors of the company has identified a significant misstatements in the financial statements of the company for the years 2010/2011, 2011/2012, 2012/2013 and 2013/2014. They further announced that the discrepancy tentatively amounting to approximately LKR 172mn between the values of work in progress as reflected in the general ledger as of the 31st March 2014 and amounts indicated by a physical verification.
Moreover, Haycarb and Bairaha Farms declared final dividend of LKR 3.00 and LKR 1.25 per share respectively.
Lanka Securities Research
Video Story
