Tuesday 10 January 2017

Colombo Stock Exchange Market Review – 09th Jan 2017


Colombo bourse edged up on Monday amid higher foreign participation. All Share index closed at 6,155.52 with a gain of 2.50 index points or 0.04% while 20-scrip S&P SL index advanced by 9.03 index points (+0.26%) to end at 3,471.28.

Price appreciation in Teejay Lanka (closed at LKR 45.00, +3.7%), Hemas Holdings (closed at LKR 99.90, +1.9%) and Chevron Lubricants (closed at LKR 158.00, +1.9%) contributed positively to the index performance. Gainers outweighed the losers 66 to 56, while 66 stocks remained unchanged.

Daily market turnover reached LKR 844mn, boosted by few negotiated deals in blue-chips. John Keells Holdings was the top contributor to the turnover with LKR 281mn underpinned by two crossings of 0.8mn shares at LKR 141.00.

Chevron Lubricants (LKR 185mn), Nestle Lanka (LKR 100mn) and Dunamis Capital (LKR 83mn) were among top contributors. Off-the-floor dealings were recorded in Chevron Lubricants (0.95mn shares at LKR 157.00), Nestle Lanka (0.05mn shares at LKR 2,000.00) and Dunamis Capital (3.0mn shares at LKR 27.50). Aggregate value of crossings accounted for 52% of the turnover.
High investor preference was witnessed in two textile manufacturing companies, Teejay Lanka and Hayleys Fabric amid media speculations on GSP+. Teejay Lanka closed at LKR 45.00 with a gain of 3.7% while Hayleys Fabric closed at LKR 16.80 (+12.0%). John Keells Holdings, Access Engineering and Alliance Finance witnessed relatively high investor activity.

Meanwhile, in opening hours of trading, 85% of rights shares of Overseas Reality were traded at LKR 0.10 per share. Despite the transaction, voting share closed at LKR 20.10 (+0.5%) and right share closed at LKR 0.20.

Foreign investors were net buyers with a net foreign inflow of LKR 153mn. Net foreign inflows were seen in John Keells Holdings (LKR 267mn), Hatton National Bank non-voting (LKR 12mn), Sampath Bank (LKR 9mn) while net foreign outflow was mainly seen in Dunamis Capital (LKR 83mn). Foreign participation for the day was 60%.
Source: LSL

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