Stock Market Review

May, 29, 2014

Colombo stock market managed to retain momentum gained on last session as both indices witnessed notable returns. All Share index increased by 31.01 index points or 0.49% to close at 6,303.77 while S&P SL20 index gained 36.04 index points or 1.04% to end at 3,486.69. Price appreciations in Sri Lanka Telecom (closed at LKR 48.00, +5.0%), Bukit Darah (closed at LKR 670.00, +3.1%) and Commercial Bank (closed at LKR 130.00, +3.8%) contributed positively to the index performance.

Daily market turnover was LKR 811mn. Several crossing were recorded in John Keells Holdings (0.83mn shares at LKR 234.00). Accordingly John Keells Holdings emerged as the top contributor for the market turnover with LKR 308mn followed by Commercial Bank (LKR 94mn) and Textured Jersey (LKR 49mn). Aggregate value of the total crossings represented almost 24% of turnover.

Gainers offset losers 121 to 79, while 70 counters remained unchanged. Cash map improved to 68% from 47%. 6 counters moved to 52wk high prices and 3 counters touched 52wk low price levels.

Moreover Kelani Tyres, Lanka IOC and Laugfs Gas non-voting attracted heavy investor interest during the session.

Foreign Investors were net buyers with net inflow of LKR 427mn. Foreign participation was 34%. Foreign inflows were seen in counters such as John Keells Holdings (LKR 282mn), Commercial Bank (LKR 93mn), Textured Jersey (LKR 34mn) while outflow was mainly seen in Cargills Ceylon (LKR 7mn).

Lanka Securities Research