May, 27, 2014
Colombo bourse closed with negative returns on Tuesday where both indices failed to retain the positive momentum gained in previous trading session. All share price index declined by 25.58 points (0.41%) to end at 6,267.44 and S&P SL20 index declined by 15.64 points (0.45%) to end at 3,447.25. Price depreciation in counters such as Sri Lanka Telecom (closed at LKR 46.00, -5.7%), Bukit Darah (closed at LKR 636.00, -2.2%) and John Keells Holdings (closed at LKR 232.00, -0.9%) contributed negatively to the index performance.
Daily market turnover reached LKR 1.4bn with the support of negotiated transactions recorded in Entrust Securities (28.7mn shares at LKR 20.50 per share), The Multi Finance (19mn shares at LKR 16.60 per share) and Asia Asset Finance (50mn shares at LKR 1.90 per share). Aggregate value of crossings represented 72% of the total market turnover. Entrust Securities (LKR 589mn) emerged as the top contributor to the market turnover followed by Multi Finance (LKR 316mn) and Asia Asset Finance (LKR 96mn).
Laufgs gas voting and non-voting shares traded heavily during the trading session subsequent to the announcement of 4th quarter profits and first & final dividend of LKR 2.00 per share. Further, The Finance non-voting, Colombo Land & Development and George Steuart Finance were among mostly traded stocks.
Foreign investors were net buyers with net inflow of LKR 36mn. Foreign participation was 3%. Foreign inflows were seen in counters such as Commercial Bank (LKR 18.5mn), Laugfs Gas non-voting (LKR 8.1mn) and Commercial Bank non-voting (LKR 5.8mn) while outflow was mainly seen in Renuka Agri Foods (LKR 8.1mn).
Meanwhile as per the latest financials John Keells Holdings 4th quarter profit has declined by 9% to LKR 4.7bn while the FY14 profits recorded a drop of 3% to LKR 11.7bn. Several companies with in JKH group namely, Ceylon Cold Stores (LKR 6.00, DY 4%), Trans Asia (LKR 2.00, DY 2%), Keells Foods (LKR 2.00, 3%) and John Keells Holdings (LKR 1.50, DY 1%) declared dividends today. Moreover Laxapana Batteries declared a first & final dividend of LKR 0.15 per share.
Cash map increased to 58% from 53%.
Lanka Securities Research
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