Colombo Stock Exchange Market Review – 11th Oct 2016

(Click here)

Colombo Stock Exchange Trade Summary 11-Oct-2016

Colombo stock market declined for second straight day despite foreign inflows to selected blue chips. Benchmark index closed at 6,538.28, down by 24.22 index points or 0.37% after touching 6,562 mark in the opening hours. High cap constituent, S&P SL 20 index shed 11.14 index points or 0.30% to end the session at 3,650.09.

Price depreciation in premier blue-chip, John Keells Holdings (closed at LKR 155.40, -1.3%) and its subsidiaries, Ceylon Cold Stores (closed at LKR 625.10, -2.6%) and Asian Hotels & Properties (closed at LKR 60.00, -3.2%) impacted the index negatively.

Daily market turnover was LKR 604mn. Commercial Bank was the top contributor to the turnover with LKR 217mn underpinned by a single crossing of 1.2mn shares at LKR 150.00. Counter accounted for 36% of the total turnover. 

Hatton National Bank (LKR 40mn), Tokyo Cement (LKR 33mn) and Seylan Developments (LKR 29mn) were among top contributors.

Losers outweighed the gainers 93 to 38, while 78 remained unchanged. High investor activity was witnessed in Seylan Developments, Commercial Credit & Finance and Tokyo Cement.

Foreign investors stood on buy side with a net foreign inflow of LKR 246mn. Foreign participation was 26%. Net foreign inflows were seen in Commercial Bank (LKR 196mn), Hatton National Bank (LKR 26mn), Teejay Lanka (LKR 18mn) while net foreign outflow was mainly seen in Hemas Holdings (LKR 14mn).

Source: LSL