Stock Market Review

June, 2, 2014

Colombo equities started its’ weekly operations with optimistic trend and witnessed positive returns in both indices. Benchmark index managed to gain 28.95 index points (+0.46%) to end at 6,292.41 while 20-scrip S&P index gained 15.58 index points (+0.45%) to close at 3,470.19. Price appreciations in counters such as Carson Cumberbatch (closed at LKR 400.00, +5.5%), Lion Brewery (closed at LKR 445.00, +3.3%) and John Keells Holdings (closed at LKR 237.90, +1.7%) contributed positively to the index movement.

Daily market turnover managed to reach LKR 782mn with the support of several crossings recorded in John Keells Holdings (0.17mn shares at LKR 235.00) and E-channeling (20.8mn shares at LKR 14.00). As per the announcement made, Senior Marketing Systems Asia PTE LTD (Singapore) has purchased 21mn ordinary shares of E-Channelling. Subsequent to this purchase the company has increased its shareholding in ECL from 29.9% to 47.4%.

E-Channelling emerged as the top contributor for the turnover with LKR 301mn followed by John Keells Holdings (LKR 85mn) & Commercial Bank (LKR 47mn). Aggregate value of the total crossings represented almost 42% of turnover.

Moreover Commercial Credit & Finance, The Finance non-voting and John Keells Holdings warrant 2015 attracted heavy investor participation during the session.

Gainers outweighed losers 131 to 77, while 71 counters remained unchanged. Cash map declined from 52% to 43%. 10 equities reached 52wk high prices while 5 equities touched 52wk low price levels.

Foreign investors were net buyers with net inflow of LKR 387mn worth of equities. Foreign participation was 39%. Foreign inflows were seen in counters such as E-Channelling (LKR 260mn), John Keells Holdings (LKR 78mn), Commercial Bank (LKR 46mn) while foreign outflow was mainly seen in Lanka IOC (LKR 8mn).

Lanka Securities Research