Wednesday 21 December 2016

Colombo Stock Exchange Market Review – 21st Dec 2016



Colombo Bourse touched near 9-month low as the equities extended losses for the seventh consecutive session. ASI closed at 6,227.34 with a drop of 7.41 index points (-0.1%) while S&P SL 20 index declined 5.71 index points (-0.2%) to 3,490.35.

Blue-chips namely John Keells Holdings (LKR 144.60,-1.0%), Ceylon Cold Stores (LKR 750.00, -2.0%) and Ceylon Tobacco (LKR 840.00, -0.7%) lost ground in today’s session. However, Commercial Bank managed to close positively at LKR 143.00, +1.1%.


Market turnover was LKR 427mn. Crossings in Ceylon Tobacco (0.2mn shares at LKR 845-846.00) contributed 36% of the turnover. Apart from Ceylon Tobacco (LKR 156mn), Hatton National Bank –nonvoting (LKR 92mn) and John Keells Holdings (LKR 54mn) made noteworthy contributions to the turnover.

Losers outweighed gainers 56 to 43. Trading activity was mostly concentrated on John Keells Holdings while Chevron Lubricants and Lanka IOC managed to gain some interest among the investors.

Foreign investors were net sellers today with net outflow of LKR 97mn. Foreign participation was 65%. Top net outflows were seen in John Keells Holdings (LKR 42mn), Teejay Lanka (LKR 41mn) and Chevron Lubricants (LKR 14mn) while top net inflows was seen in Hemas Holdings (LKR 10mn).

Meanwhile, at the weekly T-bill auction today, yields inclined across the board with 3-month yield rising 5bps to 8.65%, 9-month yield rising 5bps to 9.61% and 12-month yield rising 3bps to 10.14%. Central Bank offered LKR 29.5bn worth T-bills and the auction was oversubscribed by 1.5 times. CBSL accepted only LKR 7.6bn worth of T-bills.
Source: LSL

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