Thursday 20 October 2016

Colombo Stock Exchange Market Review – 20th Oct 2016


Colombo equity market turned back to red on Thursday amid thin investor activity. All Share index closed with little change at 6,442.36, down by 2.03 index points (-0.03%) while 20-scrip S&P SL index dipped by 3.88 index points or 0.11% to end at 3,593.17.

Cargills (closed at LKR 171.70, -4.6%) drove the index performance down along with John Keells Holdings (closed at LKR 150.00, -0.7%) and Teejay Lanka (closed at LKR 46.00, -1.3%). Hemas Holdings (closed at LKR 107.00, +1.9%) and Dialog Axiata (closed at LKR 11.60, +0.9%) stood on other side of the equation.

Daily market turnover was LKR 365mn. ACL Cables emerged as the top contributor to the turnover with LKR 45mn followed by National Development Bank (LKR 37mn), Ceylon Tobacco (closed at LKR 32mn) and John Keells Holdings (LKR 31mn).

Negotiated dealings were recorded in Ceylon Tobacco (33,228 shares at LKR 847.00) and National Development Bank (0.15mn shares at LKR 163.00). Aggregate value of crossings accounted for 14% of the turnover.

Losers offset the gainers 67 to 63, while 71 scripts remained unchanged. Bogala Graphite was the most traded stock of the day and the counter closed at LKR 17.90, +1.7%. Lotus Hydro Power advanced to LKR 7.30 (+7.4%) supported by second interim dividend of LKR 0.50 per share (DY-6.8%). John Keells Holdings, Commercial Credit & Finance and Access Engineering were among highly traded counters.

Foreign investors were net buyers with a net foreign inflow of LKR 39mn while extending inflow streak to the eight straight session. Foreign participation was 32%. Net foreign inflows were seen in ACL Cables (LKR 38mn), John Keells Holdings (LKR 22mn) and Nations Trust Bank (LKR 13mn). Net foreign outflow was mainly seen in Lion Brewery (LKR 14mn).

Source: LSL

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