Monday, 31 October 2016

Colombo Stock Exchange Market Review – 31st Oct 2016


Colombo bourse closed on negative note ahead of the monetary policy review. All Share index lost 15.62 index points or 0.24% to end at 6,409.23 while 20-scrip S&P SL index shed 12.44 index points or 0.35% to close the session at 3,559.92.

Price depreciations in Dialog Axiata (closed at LKR 11.50, -0.9%), Ceylon Guardian Investment (closed at LKR 116.10, -6.5%) and Commercial Leasing & Finance (closed at LKR 3.60, -2.7%) pinned the index in red zone.

Daily market turnover was LKR 142mn. Panasian Power emerged as the top contributor to the turnover with LKR 31mn underpinned by a single crossings of 10mn shares at LKR 3.00 per share. Commercial Bank (LKR 12mn), Hatton National Bank (LKR 11mn) and Alumex (LKR 11mn) were among top contributors.

Market breadth was negative where out of 208 counters traded, 84 slipped, 43 advanced while 81 remained unchanged. High investor activity was witnessed in Alumex and counter declined by 1.5% to LKR 20.00. People’s Leasing & Finance, Chevron Lubricants and Access Engineering were among highly traded counters.

Lanka Hospitals advanced to LKR 70.50 (+2.9%), subsequent to the dividend announcement. However, Commercial Bank declined by 0.5% to LKR 143.90 despite the first interim dividend of LKR 1.50 per share.

Foreign investors were net buyers with a net foreign inflow of LKR 6mn. Foreign participation was 6%. Net foreign inflows were seen in Asiri Hospital Holdings (LKR 4mn), Sampath Bank (LKR 3mn) and National Development Bank (LKR 2mn). Net foreign outflow was mainly seen in Dialog Axiata (LKR 5mn).

During the month of October, All Share index slipped by 125.54 index points or 1.9% while 20-scrip S&P SL index shed 57.40 index points or 1.6%. Daily average market turnover declined by 39%MoM to LKR 469mn. Foreign investors were net buyers with a net foreign inflow of LKR 1.2bn and foreign participation was 37%.

According to the data released by Department of census and statistics, the annual average inflation rate increased from 3.4% in September to 3.6% in October. The year-on-year change was 4.2% in October against the 3.9% recorded in September.
Source: LSL

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