Colombo Stock Exchange Market Review – 22nd Nov 2016

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Colombo Stock Exchange Trade Summary 22-Nov-2016

Colombo equities edged lower for the seventh straight session despite the improvement in activity levels. ASI closed at a 4-month low of 6,255.98 down by 19.28 index points (-0.3%). S&P SL 20 index fell 12.65 index points (0.4%) to 3,473.65.

Blue-chips such as Nestle Lanka (LKR 2,050.00,+1.9%), Ceylon Tobacco (LKR 879.90,+1.1%), Ceylon Cold Stores (LKR 734.20,+1.9%) and John Keells Holdings (LKR 145.00,+0.5%) gained grounds in today’s session. However the price depreciations in Dialog Axiata (LKR 10.40,-1.9%), Textured Jersey (LKR 42.00,-3.5%) and LOLC (LKR 76.00,-2.6%) dragged the index to the negative territory.

Market turnover touched one-month high of LKR 649mn supported by the trades in John Keells Holdings (LKR 165mn), Nestle Lanka (LKR 96mn) and Ceylon Tobacco (LKR 50mn). Two crossings were seen in John Keells Holdings (0.15mn at LKR 145.00) and Cargills Ceylon (0.2mn shares at LKR 174.00) and the crossings accounted for 9% of the turnover.

Textured Jersey and Access Engineering (LKR 23.80,-1.7%) were the most traded stocks today. Further, relatively high activity was seen in Chevron Lubricants Lanka and John Keells Holdings.

Foreign investors were net sellers with net foreign outflow of LKR 9mn. Foreign participation accounted for 46% of the market activity. Top net outflows were seen in John Keells Holdings (LKR 63mn), Sampath Bank (LKR 22mn) and Access Engineering (LKR 10mn) while top net inflow was mainly seen in Nestle Lanka (LKR 47mn).
Source: LSL