Stock Market ended with mixed results on Friday where core index was unable to continue the momentum gained in previous day. All share price index dropped by 20.45 index points (-0.34%) to closed at 5,972.17 while 20 Scrip S&P SL20 index marginally gained 4.52 index points (-0.14%) to closed at 3,278.67. Price depreciation in high cap stocks such as Ceylon Tobacco (closed at LKR 1,031.20, -5.0%), Ceylinco Insurance (closed at LKR 1,321.00, -5.1%) & DFCC Bank (closed at LKR 143.00, -1.2%) adversely affected the market performance of the trading session.

Daily market turnover managed to reach seven week high of LKR 3.3bn with the support of bulk volumes recorded in premier blue-chip, John Keells Holdings. John Keells Holdings topped the turnover list with trades of over 12.5mn shares worth of LKR 2.8bn. The next best contributor, Janashakthi Insurance recorded a turnover of LKR 189mn with the support of three negotiation deals of 11.4mn shares at LKR 14.50.

Losers outweighed the gainers 110 to 69, while 65 counters remained unchanged. Cash map improved to 97% from 60%. 15 counters reached 52wk high prices and 4 counters touched 52wk low price levels.Further Piramal Glass, George Steuart Finance, John Keells Holdings warrant 23 & 22 managed to attract heavy investor participation during the session.

Foreign Participation accounted for 45% while foreign investors were net sellers with a net outflow of LKR 2.8bn. Net outflows were seen in counters such as John Keels Holdings (LKR 2.8bn), John Keells warrants 22 (LKR 2mn) and Lanka IOC (LKR 1mn) while net inflows mainly seen in Commercial Bank (LKR 15mn).

Lanka Securities Research