Thursday 2 February 2017

Colombo Stock Exchange Market Review – 2nd Feb 2017


Colombo bourse regained lost grounds on Thursday with positive investor sentiments. All Share index bagged 9.49 index points or 0.15% to end at 6,139.56 while S&P SL20 index advanced by 13.44 index points or 0.38% to close at 3,504.35.

Price appreciations in Nestle (closed at LKR 1998.40, +2.5%), Commercial Bank (closed at LKR 145.70, +1.8%) and Dialog Axiata (closed at LKR 10.80, +1.9%) contributed positively to the index performance.

Daily market turnover crossed LKR 1bn supported by activity in selected high caps. Negotiated deals were recorded in Hemas Holdings (2.8mn shares at LKR 104.00), Tokyo Cement (0.5mn shares at LKR 59.00) and Hatton National Bank (0.1mn shares at LKR 222.50).

However, Melstacorp was top the contributor to the turnover with LKR 560mn followed by Hemas Holdings (LKR 292mn), Sampath Bank (LKR 45mn) and Tokyo Cement (LKR 39mn) respectively.

Despite the index gain, losers outweighed the gainers 63 to 50 while 77 stocks remained unchanged. High investor participation was seen in Teejay Lanka and stock continued to decrease as it closed at LKR 39.80 with a loss of 1.2%. Ceylon Grain Elevators, Melstacorp and Lanka IOC were among heavily traded counters.

Foreign investors were net buyers with a net foreign inflow of LKR 27mn. Net foreign inflows were mainly seen in Sampath Bank (LKR 35mn), Melstacorp (LKR 13mn), Tokyo Cement non-voting (LKR 12mn) while net foreign outflow was mainly seen in Hatton National Bank (LKR 23mn). Foreign participation accounted for 85% of the turnover.

Source: LSL

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