Colombo Stock Exchange Market Review – 13th Oct 2016

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Colombo Stock Exchange Trade Summary 13-Oct-2016

Colombo equity market concluded another lackluster trading session on Thursday with both indices closing on negative territory for the fourth straight session. All share index down by 23.05 index points or 0.35 % to end at 6,487.13 while S&P SL20 index lowered by 22.60 index points or 0.62% to conclude at 3,615.48.

Price declines in high caps namely John Keells Holdings (closed at LKR 152.70, -1.4%), Ceylon Cold Stores (closed at LKR 616.30, -2.6%) and Dialog Axiata (closed at LKR 11.40, -0.9%) impacted the index negatively.

Daily market turnover was LKR 372mn. Top turnover for the day was recorded in Commercial Bank with LKR 72mn. National Development Bank (LKR 51mn), Ceylon Tobacco (LKR 45mn) and John Keells Holdings (LKR 30mn) were among contributors to the turnover.

Off-the-floor dealings were recorded in Commercial Bank (0.4mn shares at LKR 148.00), National Development Bank (0.3mn shares at LKR 165.00) and Ceylon Tobacco (0.05mn shares at LKR 850.00). Accordingly, aggregate value of crossings accounted for 41% of the turnover.

Market breadth was negative where out of 206 stocks, 102 slipped, 30 advanced while 74 remained unchanged. High investor activity was witnessed in Access Engineering, Teejay Lanka and John Keells Holdings.

Meanwhile, Chevron Lubricants declared a fourth interim dividend of LKR 3.50 per share. Counter closed the day with a loss of 0.6% at LKR 168.00.

Foreign investors were net buyers for the day with a net foreign inflow of LKR 89mn. Foreign participation was 28%. Net foreign inflows were seen in Commercial Bank (LKR 69mn), Nations Trust Bank (LKR 11mn), Bairaha Farms (LKR 6mn) while net foreign outflow was mainly seen in Tokyo Cement (LKR 2mn).

Source: LSL