Colombo equities started the weekly operations on a positive note but witnessed a lackluster trading session. ASI index gained 12.71 index points or 0.20% to close at 6,293.02 while 20-scrip S&P SL index marginally gained 3.46 index points or 0.10% to end at 3,462.89. Price appreciations in counters such as Sri Lanka Telecom (closed at 48.80, +1.5%), Asian Hotels & Properties (closed at 72.10, +3.0%) and Lion Brewery (closed at 449.90, +2.3%) contributed positively to the index performance.

Daily market turnover managed to reach LKR 291mn along with a single crossing of John Keells Holdings (0.10mn shares at LKR 234.00). Accordingly John Keells Holdings topped the turnover list with LKR 38.4mn followed by The Finance Company non-voting (LKR 37.7mn) and Lanka IOC (LKR 28.0mn).

Moreover both voting and non-voting shares of The Finance and Lanka IOC counters attracted heavy investor interest during the session.

Losers offset gainers with 102 to 94, while 56 equities remained unchanged. Cash map declined to 53% from 74%. 9 counters reached 52wk high prices while 6 stocks touched 52wk low price levels.

Foreign investors were net buyers with net inflow of LKR 46mn. Foreign participation was 11%. Foreign inflows were seen in counters such as John Keells Holdings (LKR 38.1mn), Commercial Bank non-voting (LKR 4.4mn), Lanka IOC (LKR 3.5mn) while outflow was mainly seen in Hatton National Bank (LKR 2.4mn).

Meanwhile Sri Lanka’s exports increased by 29% and trade gap narrows by 19% in March 2014 according to the external sector performance statistics released by CBSL.

Lanka Securities Research