Colombo stock market closed on mixed results with thin market activity. All Share index edged lower by 2.61 index points (-0.04%) to end at 6,130.07 while high cap constituent, S&P SL20 index gained 1.30 index points or 0.04% to close at 3,490.91.
Market breadth was neutral where out of 190 stocks, 64 declined, 57 advanced while 79 remained unchanged. Price decline in Commercial Bank (closed at LKR 143.10, -1.3%) and Dialog Axiata (closed at LKR 10.60, -0.9%) drove the index down but price appreciation in Hatton National Bank (closed at LKR 226.90, +1.0%) eased the pressure.
Daily market turnover was LKR 132mn. John Keells Holdings (LKR 32mn) and Hatton National Bank (LKR 21mn) were top contributors to turnover underpinned by negotiated deals. 0.2mn shares of John Keells Holdings changed hands at LKR 140.00 and 0.1mn shares of Hatton National Bank were transacted at LKR 227.00.
High investor activity was witnessed in Swarnamahal Financial Services and counter advanced to LKR 1.20 (+33.3%) subsequent to positive earnings report. Colombo Land, John Keells Holdings and Union Bank were among heavily traded counters.
Foreign investors were net buyers with a net foreign inflow of LKR 7mn. Net foreign inflows were seen in Hatton National Bank (LKR 20mn) and Ceylon Cold Stores (LKR 5mn) while net foreign outflow was mainly seen in John Keells Holdings (LKR 27mn). Foreign participation was 31%.
Meanwhile at the Treasury bill auction today, three month yield increased by 5bps to 9.08% and one year yield increased to 10.42% (+5bps). However, six month treasury rate declined by 2bps to 10.05%. CBSL offered LKR 28bn worth Treasury bills and the auction was oversubscribed by 2.4 times with bids received amounting to LKR 67.7bn. It was decided to accept LKR 27.1bn worth of treasury bills.
Source: LSL
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