Thursday 26 January 2017

Colombo Stock Exchange Market Review – 26th Jan 2017


Colombo stock market snapped the three day losing streak on Thursday and closed in green despite thin volumes. Benchmark index edged up 2.97 index points (0.05%) to 6,130.05 while high cap constituent, S&P SL20 index gained 4.98 index points or 0.14% to close at 3,479.39.

Market breadth was neutral where out of 238 stocks, 61 advanced, 65 slipped while 112 remained unchanged. Index decline was led by telcos, Dialog Axiata (closed at LKR 10.70, -2.7%) and Sri Lanka Telecom (closed at LKR 34.30, -1.7%) along with Ceylon Guardian Investment (closed at LKR 100.40, -4.8%) and Seylan Bank (closed at LKR 96.00, -1.5%).

Daily market turnover was LKR 279mn. Negotiated deals in Watawala Plantations (2.0mn shares at LKR 23.50), Access Engineering (LKR 25.20) and Tokyo Cement (0.40mn shares at LKR 59.00) represented 39% of the turnover.

Hemas Holdings (LKR 53mn) and Watawala Plantations (LKR 50mn) contributed majority of the turnover. Further John Keells Holdings (LKR 47mn), Access Engineering (LKR 39mn) and Tokyo Cement (LKR 24mn) made notable contributions to the day’s activity.

John Keells Holdings, Watawala Plantations and Teejay Lanka were among highly traded counters. After the trading session, John Keells Holdings declared an interim dividend of LKR 2.00 per share.

Foreign investors stood on buy side with a net foreign inflow of LKR 107mn. Net foreign inflows were seen in Hemas Holdings (LKR 50mn), Access Engineering (LKR 38mn), Tokyo Cement (LKR 24mn) while net foreign outflow was mainly seen in Watawala Plantations (LKR 21mn). Foreign participation was 44%.
Source: LSL

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