Monday 28 November 2016

Colombo Stock Exchange Market Review – 28th Nov 2016


Colombo bourse turned red in week’s opening day as bearish investor sentiments continued to dominate the market direction. Benchmark index lost 13.25 index points or 0.21% to end the session at 6,238.87 while blue-chip constituent S&P SL20 index shed 16.68 index points (-0.48%) to end the day at 3,459.86. 

Index fell with banks where shares of National Development Bank (closed at LKR 151.30, -2.8%), Commercial Bank (closed at LKR 139.40, -1.0%), Hatton National Bank (closed at LKR 221.00, -0.9%) and DFCC Bank (closed at LKR 117.10, -0.9%) closed lower. 

Lanka Orix Leasing (closed at LKR 79.50, +3.9%) and Lion Brewery (closed at LKR 468.50, +3.9%) stood on the opposite side. 

Daily market turnover was LKR 386mn supported by negotiated deals in high caps. Off-the-floor dealings were recorded in DFCC Bank (1.35mn shares at LKR 117.70) and Central Finance (0.2mn shares at LKR 100.00). Aggregate value of crossings accounted for 47% of the turnover. 

Accordingly, DFCC Bank top the turnover list with LKR 184mn followed by Hemas Holdings (LKR 34mn), Central Finance (LKR 26mn) and John Keells Holdings (LKR 18mn) respectively. 

Market breadth was negative where out of 189 stocks traded, 45 advanced, 85 slipped while 59 remained unchanged. High investor activity was witnessed in DFCC Bank, John Keells Holdings and Access Engineering. 

Foreign investors were net sellers with a net foreign outflow of LKR 137mn. Foreign participation was 30%. Net foreign outflows were mainly seen in DFCC Bank (LKR 176mn), Hatton National Bank (LKR 5mn), Tokyo Cement (LKR 1mn) while net foreign inflow was mainly seen in Hemas Holdings (LKR 32mn).
Source: LSL

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