Friday 13 January 2017

Colombo Stock Exchange Market Review – 13th Jan 2017


Investors remained optimistic with the revised outlook by Fitch ratings and EU’s proposal to restore GSP+ status. All Share index touched 6,223 mark but closed at 6,217.72, with a gain of 33.18 index points (+0.5%). 20-scrip S&P SL index advanced by 21.33 index points or 0.61% to end at 3,524.40.
Melstacrop (closed at LKR 68.80, +5.7%) spearheaded the gains along with Sri Lanka Telecom (closed at LKR 36.50, +2.0%) and Singer Sri Lanka (closed at LKR 130.00, +4.0%).

Daily market turnover was LKR 520mn. Majority of the turnover was contributed by Commercial Bank (LKR 122mn) and Melstacrop (LKR 109mn). Chevron Lubricants (LKR 82mn) and Tokyo Cement (LKR 37mn) made noteworthy contribution underpinned by negotiated deals where 0.25mn shares of Chevron Lubricants changed hands at LKR 161.50 while 0.39mn shares of Tokyo Cement changed hands at LKR 59.00. Accordingly, negotiated deals accounted for 12% of the turnover.

Market breadth was positive where out of 203 stocks traded, 98 advanced, 31 slipped and 74 remained unchanged. High investor activity was seen in two textile manufacturers, Hayleys Fabric (LKR 17.00, +3.0%) and Teejay Lanka (LKR 44.40, +0.5%). Melstacorp, Hayleys Fibre and Overseas Realty were among heavily traded counters.

Foreign investors were net buyers with a net foreign inflow of LKR 3mn. Net foreign inflows were seen in Melstacorp (LKR 26mn), Kegalle Plantations (LKR 8mn), Commercial Bank (LKR 2mn) while net foreign outflow was mainly seen in Tokyo Cement (LKR 32mn). Foreign participation for the day was 48%.
Source: LSL

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