Colombo equities snapped the eight-day losing streak to close positively on Friday’s session. Market activity was quite thin as most of the investors opted to wait in sidelines ahead of the festive weekend. All Share Index closed 6.91 index points (+0.1%) higher at 6,216.56 while the S&P SL 20 index closed at 3,482.21 with a gain of 4.06index points (+0.1%).
Gains in Cargills Ceylon (LKR 194.40, +2.9%), Hatton National Bank (LKR 222.40, +1.1%) and Expolanka (LKR 6.30, +5.0%) pushed the index towards positive territory. Out of the 173 traded, 55 stocks inclined while 38 counters saw decline in its share price.
Market turnover remained at LKR 125mn as institutional investors remained inactive ahead of the holiday season. Cargills Ceylon (LKR 40mn) and John Keells Holdings (LKR 33mn) made the noteworthy contribution to the turnover while rest of the shares failed to surpass LKR 10mn.
Trading activity was mostly concentrated around John Keells Holdings (LKR 144.60, -0.1%) while Chevron Lubricants (LKR 158.30, - 1.1%), LOLC Finance (LKR 2.70, +3.9%) and Union Bank (LKR 15.20, +1.3%) managed to gain some interest among the investors.
The announcement of the interim dividend of LKR 1.40 by CT Land & Development failed to make any impact on the share and the counter closed flat at LKR 55.00.
Foreign investors were net sellers today with net outflow of LKR 4mn. Top net outflows were seen in John Keells Holdings (LKR 6mn) and Hayleys Fabric (LKR 3mn) while top net inflow was mainly seen in Sampath Bank (LKR 4mn). Foreign participation accounted for 26% of the turnover.
Kindly note that Colombo Stock Exchange will be closed on Monday, (26th December 2016) due to special Bank holiday.
Source: LSL
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