Colombo Stock Exchange Market Review – 13th Feb 2017

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Colombo Stock Exchange Trade Summary 13-Feb-2017

Colombo bourse regained lost grounds on Monday as Fitch revised country's sovereign rating outlook from negative to stable. All Share index bagged 44.58 index points or 0.73% to end at 6,138.73 while high cap constituent S&P SL20 index gained 32.74 index points or 0.94% to close at 3,521.24.

Price appreciation in premier blue-chip, John Keells Holdings (LKR 149.90, +1.6%) along with Dialog Axiata (LKR 11.00, +3.8%), Commercial Bank (LKR 142.00, +1.4%) pushed the index to positive territory. Market breadth was positive where out of 201 stocks traded, 79 advanced, 55 slipped and 67 remained unchanged.

Daily market turnover reached LKR 785mn boosted by negotiated trades in selected blue-chips. Off-the-floor dealings were recorded in Hemas Holdings (1.5mn shares at LKR 107.00), John Keells Holdings (1.0mn shares at LKR 146.00) and Hatton National Bank (0.1mn shares at LKR 227.00). Aggregate value of crossings accounted for 41% of the turnover.

Accordingly, Hemas Holdings (LKR 304mn) and John Keells Holdings (LKR 238mn) were major contributors to turnover followed by Hatton National Bank (LKR 82mn) and Chevron Lubricants (13mn).

High investor activity was witnessed in John Keells Holdings, Dialog Axiata and HNB Assurance. Share price of both, Dialog Axiata and HNB Assurance increased amid the dividend announcements. Further, Overseas Realty advanced by +5.7% to LKR 20.30 supported by final dividend of LKR 1.25 per share.

Foreign investors were net buyers with a net foreign inflow of LKR 333mn. Foreign participation was 61%. Net foreign inflows were seen in Hemas Holdings (LKR 259mn), John Keells Holdings (LKR 70mn) and Chevron Lubricants (LKR 13mn). Foreign outflow was mainly seen in Hatton National Bank (LKR 29mn).

Source: LSL