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Colombo Stock Exchange Trade Summary 04-Oct-2016
Colombo Bourse closed on opposites today with benchmark ASI extending gains for the sixth straight session to close at 6,591.41, up 17.02 index points or 0.3%. The blue-chip S&P SL 20 index edged lower to close at 3,641.94, with a drop of 10.66 points or 0.3%. Market breadth was mostly positive with gainers outweighing loser 73 to 63.
The diverse performance in the two indices was largely due to the hefty gains in Commercial Credit & Finance. The counter witnessed significant investor interest after the announcement of share purchase agreement between Group Lease Holdings and three existing shareholders, BG Investments, Creations Investment Sri Lanka and S.L. La France for a stake of 29.99% at a price of LKR 111.00. The substantial price premium drove the share price to a intra-day high of LKR 77.00 (+42%). The counter closed at LKR 72.80, with a gain of 35%.
Among the blue-chips, Ceylon Tobacco (LKR 878.00,+2.1%) and Cargills Ceylon (LKR 180.00,+2.9%) supported the index with gains while Lion Brewery (LKR 401.90,-5.9%), Commercial Bank (LKR 145.00,-1.4%) and John Keells Holdings (LKR 155.10,-0.6%) stood on the opposite side.
Market turnover fell to LKR 622mn after surpassing LKR 1bn for two consecutive days. Commercial Credit & Finance contributed LKR 143mn to the days’ turnover while other noteworthy contributions came from Tokyo Cement-voting (LKR 38mn) and John Keells Holdings (LKR 34mn). Negotiated deals in Browns Investments (20mn shares at LKR 1.40), Tokyo Cement- voting (0.5mn shares at LKR 59.50) and John Keells Holdings (0.1mn shares at LKR 156.00) represented 13% of the market turnover.
In addition to Commercial Credit & Finance, investor interest was seen in Lanka Century Investments, Sinhaputhra Finance – preference shares, Ceylon Grain Elevators and Vallibel One.
Market turnover fell to LKR 622mn after surpassing LKR 1bn for two consecutive days. Commercial Credit & Finance contributed LKR 143mn to the days’ turnover while other noteworthy contributions came from Tokyo Cement-voting (LKR 38mn) and John Keells Holdings (LKR 34mn). Negotiated deals in Browns Investments (20mn shares at LKR 1.40), Tokyo Cement- voting (0.5mn shares at LKR 59.50) and John Keells Holdings (0.1mn shares at LKR 156.00) represented 13% of the market turnover.
In addition to Commercial Credit & Finance, investor interest was seen in Lanka Century Investments, Sinhaputhra Finance – preference shares, Ceylon Grain Elevators and Vallibel One.
Foreign investors stood on buy side with a net foreign inflow of LKR 10mn. Foreign participation was 15%. Net foreign inflows were seen in Teejay Lanka (LKR 29mn), Commercial Bank (LKR 17mn) and Ceylon Grain Elevators (LKR 12mn). Net foreign outflow was mainly seen in Tokyo Cement (LKR 32mn).
Source: LSL
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