Colombo Stock Exchange Market Review – 03rd Oct 2016

Colombo Stock Exchange Trade Summary 03-Oct-2016

Colombo Equities edged higher on Monday, continuing the positive momentum from last week. The ASI index gained 39.62 index points or 0.6% to close at 6,574.39 while the blue-chip S&P SL 20 index closed at 3,652.60 up 35.28 index points or 1.0%. 

The optimism was reflected in most share prices and the gainers outweighed the losers 78 to 65. Among the blue-chips, Lion Brewery (closed at LKR 427.00,+12.4%), John Keells Holdings (LKR 156.00,+1.3%), Commercial Bank (closed at LKR 147.10,+2.2%) and Hemas Holdings (closed at LKR 106.90,+2.7%) contributed most to the index gains.

Market turnover reached LKR 1.3bn supported by foreign investor activity in Hemas Holdings. The counter witnessed two crossings totaling to 7.4mn shares at LKR 107.00. Accordingly Hemas Holdings led the turnover list with LKR 803mn followed by John Keells Holdings (LKR 111mn) and Hatton National Bank (LKR 37mn).

Retail investor activity was mostly concentrated on Galadari Hotels which saw a gain of 12% in today’s trading session. Further, investor interest was seen in hotel sector stocks such as Citrus Kalpitiya and Anilana Hotels.

Foreign investors were net buyers with a net inflow of LKR 85mn. The foreign participation was 70%. The top net inflows were seen in John Keells Holdings (LKR 86mn), Commercial Bank (LKR 14mn) and Hatton National Bank – nonvoting (LKR 5mn) while top net outflow was seen in Lion Brewery (LKR 16mn).

Source: LSL