Wednesday 9 November 2016

Colombo Stock Exchange Market Review – 08th Nov 2016


Colombo bourse closed flat on Tuesday amid thin market activity. Benchmark index dipped slightly by 5.91 index points or 0.09% to end at 6,439.06 while S&P SL 20 index lost 5.32 index points or 0.15% to close at 3,614.58.

Price depreciation high caps, Dialog Axiata (closed at LKR 11.30, -1.7%), John Keells Holdings (closed at LKR 151.00, -0.6%) and Commercial Bank (closed at LKR 149.00, -0.9%) drove the index down.

Daily market turnover was LKR 162mn. Two negotiated deals were recorded in Access Engineering (1.0mn shares at LKR 26.10) and Central Finance (0.2mn shares at LKR 108.00). Aggregate value of crossings accounted for 29% of the turnover.

Accordingly, Access Engineering emerged as the top contributor to the turnover with LKR 45mn followed by Central Finance (LKR 24mn), Ceylon Tobacco (LKR 9mn) and Sampath Bank (LKR 9mn).

Losers outweighed the gainers 67 to 41, while 82 remained unchanged. High investor participation was witnessed in Access Engineering, Ceylon Grain Elevators, Alliance Finance. Ceylon Cold Stores advanced to LKR 721.90 (+2.4%) supported by the interim dividend announcement.

Foreign investors were net buyers for the fifth straight session with a net foreign inflow of LKR 12mn. Foreign participation was 11%. Net foreign inflows were seen in Ceylon Tobacco (LKR 8mn), Ceylon Cold Stores (LKR 4mn), John Keells Holdings (LKR 1mn) while net foreign outflow was mainly seen in National Development Bank (LKR 1mn).
Source: LSL

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