Tuesday 20 December 2016

Colombo Stock Exchange Market Review – 20th Dec 2016


Colombo Bourse stretched the losing streak for the sixth session on Tuesday as benchmark index closed lower despite high foreign activity. ASI closed 15.82 index points (-0.3%) below at 6,234.75 while S&P SL 20 index closed 16.23 points (-0.5%) below at 3,496.06. Lackluster sentiments prevailed across the board with losers outweighing gainers 80 to 38.

High caps namely Commercial Bank (LKR 141.40, -1.5%), Hatton National Bank (LKR 220.30, -1.9%) and John Keells Holdings (LKR 146.00, -0.7%) closed lower in today’s session. Among the gainers was National Development Bank (LKR 158.90, +3.2%) and Asian Hotels & Properties (LKR 57.00, +2.7%).

Daily market turnover was LKR 538mn. Negotiated deals were recorded in Ceylon Tobacco (36,500 shares at LKR 846.70), Chevron Lubricants (0.2mn shares at LKR 160.00) and Commercial Bank (1mn shares at LKR 145.00). Crossings accounted for 40% of the turnover. Commercial Bank was the top contributor to the turnover with LKR 261mn while Chevron Lubricants (LKR 56mn) and Ceylon Tobacco (LKR 50mn) made noteworthy contributions.
Blue-chips dominated the market activity today with relatively high trading activity in John Keells Holdings, Chevron Lubricants (LKR 160.00, -0.1%) and Commercial Bank.

Foreign investors were net buyers with net inflow of LKR 80mn. Top net inflows were seen in Commercial Bank (LKR 84mn), Ceylon Tobacco (LKR 19mn) and Sampath Bank (LKR 15mn) while top net outflow was seen in Chevron Lubricants (LKR 18mn). Foreign activity accounted for 64% market turnover.
Source: LSL

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