Wednesday 25 January 2017

Colombo Stock Exchange Market Review – 25th Jan 2017


Colombo bourse extended losing streak for the third consecutive day led by foreign outflows. All Share index lost 7.33 index points or 0.12% to end at 6,127.08 while 20-scrip S&P SL index declined by 5.07 index points or 0.15% to close at 3,474.41.

Price depreciations in Nestle Lanka (closing at LKR 1,950.00, -2.5%), John Keells Holdings (closed at LKR 137.50, -0.6%) and Lanka Hospital (closed at LKR 62.20, -3.6%) dragged the index down.

Daily market turnover was LKR 690mn. Nestle Lanka topped the turnover list with LKR 427mn followed by Cargills (LKR 63mn), John Keells Holdings (LKR 40mn) and Central Finance (LKR 36mn) respectively. Single crossing was recorded in Cargills where 0.12mn shares change hands at LKR 200.00.

Losers outweighed the gainers 81 to 41, while 81 stocks remained unchanged. High investor activity was witnessed in John Keells Holdings, Teejay Lanka and Ceylon Grain Elevators.

Foreign investors were net sellers with a net foreign outflow of LKR 385mn. Foreign participation was 44%. Net foreign outflows were seen in Nestle Lanka (LKR 427mn), John Keells Holdings (LKR 34mn) and Teejay Lanka (LKR 7mn). Net foreign inflow was mainly seen in Cargills (LKR 62mn).

At the weekly treasury bill auction, three months treasury rate increased by 5bps to 9.03% while six month rate increased to 10.07% (+2bps). One year treasury yield remained at 10.37%. CBSL offered LKR 27.5bn worth Treasury bills and the auction was oversubscribed by 3.4 times with bids received amounting to LKR 94.7bn. It was decided to accept LKR 27.2bn worth of treasury bills.
Source: LSL

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