Colombo equities swung between gains & losses on Tuesday and closed with mixed returns. Benchmark All share price index gained 21.25 points or 0.30% to end at 7,205.47 while S&P SL 20 index lost 2.80 points or 0.07% to end at 4,011.75.
Price appreciation in counters such as Sri Lanka Telecom (closed at LKR 51.20, +2%), DFCC Bank (closed at LKR 221.00, +2.6%) and Central Finance (closed at LKR 252.00, +5.1%) contributed positively to the core index performance whereas price declines in blue chips such as John Keells Holdings (closed at LKR 247.00, -0.9%), Ceylon Tobacco (closed at LKR 1,140.00, -0.6%) and Dialog Axiata (closed at LKR 12.20, -1.6%) contributed negatively to the 20- script S&P SL index performance.
Positive movements in sectors such as Footwear & Textiles, Chemicals & Pharmaceuticals and Land & Property affected favorably to the market performance.
Daily market turnover was LKR 1.6bn. Several Crossings were recorded in Central Finance (0.3mn shares at LKR 252.00 per share), Commercial Bank (0.2mn shares at LKR 156.00 per share), Chevron Lubricants (0.2mn shares at LKR 340.00 per share) and Softlogic Capital (50mn shares at LKR 7.00 per share). Total crossings accounted for 30% of the total market turnover.
Accordingly Softlogic Capital emerged as the top contributor to the market turnover with LKR 357mn followed by Central Finance (LKR 162mn) and John Keells Holdings (LKR 121mn).
Shares of First Capital Holdings, Access Engineering and Trade Finance & Investments were traded heavily during the session.
Foreign investors were net sellers with net outflow of LKR 114mn. Foreign participation was 14%. Net foreign outflows were seen in Commercial Bank - nonvoting (LKR 78mn), John Keells Holdings (LKR 32mn) and Textured Jersey (LKR 17mn) while net foreign inflow was mainly seen in Laugfs Gas (LKR 10mn).
Meanwhile several disclosures were made relating to Hemas Power (HPWR). ACL Cables together with NDB Capital Holdings and Trydan Partners (Pvt) Ltd has entered in to a share sale and purchase agreement with Hemas Holdings for the sale & purchase of 93.9mn shares (75% of the issued capital) in HPWR. The shares of HPWR are to be sold for a total consideration of LKR 1.7bn (at LKR 17.90 per share).
Additionally in accordance with the terms of the above agreement, HPWR entered into a share sale & purchase agreement for the sale of 60mn shares (50% of the issued capital) of Heladhanavi Limited to Lakdhanavi Limited at a total consideration of LKR 532mn. HPWR share closed at LKR 16.80 while Hemas Holdings share closed at LKR 60.50 (+1%).
Price appreciation in counters such as Sri Lanka Telecom (closed at LKR 51.20, +2%), DFCC Bank (closed at LKR 221.00, +2.6%) and Central Finance (closed at LKR 252.00, +5.1%) contributed positively to the core index performance whereas price declines in blue chips such as John Keells Holdings (closed at LKR 247.00, -0.9%), Ceylon Tobacco (closed at LKR 1,140.00, -0.6%) and Dialog Axiata (closed at LKR 12.20, -1.6%) contributed negatively to the 20- script S&P SL index performance.
Positive movements in sectors such as Footwear & Textiles, Chemicals & Pharmaceuticals and Land & Property affected favorably to the market performance.
Daily market turnover was LKR 1.6bn. Several Crossings were recorded in Central Finance (0.3mn shares at LKR 252.00 per share), Commercial Bank (0.2mn shares at LKR 156.00 per share), Chevron Lubricants (0.2mn shares at LKR 340.00 per share) and Softlogic Capital (50mn shares at LKR 7.00 per share). Total crossings accounted for 30% of the total market turnover.
Accordingly Softlogic Capital emerged as the top contributor to the market turnover with LKR 357mn followed by Central Finance (LKR 162mn) and John Keells Holdings (LKR 121mn).
Shares of First Capital Holdings, Access Engineering and Trade Finance & Investments were traded heavily during the session.
Foreign investors were net sellers with net outflow of LKR 114mn. Foreign participation was 14%. Net foreign outflows were seen in Commercial Bank - nonvoting (LKR 78mn), John Keells Holdings (LKR 32mn) and Textured Jersey (LKR 17mn) while net foreign inflow was mainly seen in Laugfs Gas (LKR 10mn).
Meanwhile several disclosures were made relating to Hemas Power (HPWR). ACL Cables together with NDB Capital Holdings and Trydan Partners (Pvt) Ltd has entered in to a share sale and purchase agreement with Hemas Holdings for the sale & purchase of 93.9mn shares (75% of the issued capital) in HPWR. The shares of HPWR are to be sold for a total consideration of LKR 1.7bn (at LKR 17.90 per share).
Additionally in accordance with the terms of the above agreement, HPWR entered into a share sale & purchase agreement for the sale of 60mn shares (50% of the issued capital) of Heladhanavi Limited to Lakdhanavi Limited at a total consideration of LKR 532mn. HPWR share closed at LKR 16.80 while Hemas Holdings share closed at LKR 60.50 (+1%).
Source: Lanka Securities
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