Stock Market Review

May, 19, 2014

Colombo shares started a fresh week on Monday with mixed results as All share price index gained 4.05 points (+0.06%) to close at 6,319.24 while S&P SL 20 index lost 6.38 points (-0.18%) to close at 3,472.79. Price advancement in counters such as Ceylinco Insurance (closed at LKR 13.50, +5.4%), Dialog Axiata (closed at LKR 9.80, +3.2%) and Capital Development & Investment (closed at LKR 499.80, +6.2%) contributed positively to the core index performance while price depreciation in index heavy counters such as Bukit Darah (closed at LKR 660.00, -1.5%), Nestle Lanka (closed at LKR 1,970.00, -1%) and John Keells Holdings (closed at LKR 234.00, -0.4%) contributed adversely to the S&P SL 20 index performance.

Daily Market turnover was LKR 590mn. Several negotiated deals were recorded in Commercial Bank (0.4mn shares at LKR 129.50 per share) and John Keells Holding (0.2mn shares at LKR 235.00 per share). Commercial Bank (LKR 118mn) topped the turnover list followed by John Keells Holdings (LKR 62mn) and National Development Bank (LKR 38mn).

Meanwhile, shares of John Keells Holdings Warrant0022, Vallibel One and National Development Bank were traded heavily during today’s session.

Losers surpass gainers 119 to 105, while 44 counters remained unchanged. Cash map declined to 55% from 60%.

Foreign investors were net buyers with net inflow of LKR 178mn. Foreign participation was 28%. Foreign inflows were seen in Commercial Bank (LKR 76mn), John Keells Holdings (LKR 57mn) and National Development Bank (LKR 20mn) while foreign outflow was mainly seen in Aitken Spence (LKR 4mn).

Further, Lanka Ashok Leyland declared a final dividend of LKR 5.00 per share during today’s trading session.

Lanka Securities Research