Thursday, 27 October 2016

Colombo Stock Exchange Market Review – 27th Oct 2016


Colombo bourse closed in opposite directions on Thursday with lackluster activity levels. All Share index advanced slightly by 3.61 index points or 0.06% to end at 6,438.50 while S&P SL20 edged lower by 1.76 index points or 0.05% to close at 3,584.06.

Gains recorded in Bukit Darah (closed at LKR 290.00, +3.7%), Dialog Axiata (closed at LKR 11.60, +0.9%) and Ceylon Guardian Investment Trust (closed at LKR 125.00, +6.3%) contributed positively to the index. However, price depreciation in Carson Cumberbatch (closed at LKR 184.00, -3.0%) and Commercial Bank (closed at LKR 146.20, -0.5%) impacted the index gains.

Daily market turnover was LKR 205mn with absence of negotiated deals. Dialog Axiata was the contributor to the turnover with LKR 24mn followed by Ceylinco Insurance (LKR 21mn), Tokyo Cement non-voting (LKR 15mn) and Tokyo Cement (LKR 11mn) respectively.

Gainers outweighed the losers 66 to 49, while 81 counters remained unchanged. High investor activity was witnessed in Teejay Lanka, Dunamis Capital, First Capital and Access Engineering.

Alumex advanced to LKR 20.60 but closed at LKR 20.50 (+0.5%) supported by favorable quarter results. Further, Keells Food Products declined to 159.80, -0.8% amid the profit decline in 2QFY17.

Foreign investors were net sellers with a net foreign outflow of LKR 18mn. Foreign participation was 21%. Net foreign outflows were seen in Commercial Bank non-voting (LKR 6mn), Teejay Lanka (LKR 5mn) and Chevron Lubricants (LKR 4mn). Net foreign inflow was mainly seen in Ceylon Tobacco (LKR 4mn).
Source: LSL

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