Colombo Stock Exchange Market Review – 06th Oct 2016

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Colombo Stock Exchange Trade Summary 06-Oct-2016

Colombo equity market end the Thursday session on a mixed note with low investor activity. Benchmark index started the day in green but price depreciation in Nestle Lanka (LKR 2,100.10, -4.5%) with thin volumes impacted the index gains. All Share index closed the session at 6,566.96, with a drop of 12.82 index points or 0.19% while 20-scrip S&P SL index marginally improved by 2.55 index points or 0.07% to end at 3,646.13.

Along with Nestle, Sri Lanka Telecom (closed at LKR 38.20, -1.3%), Ceylon Cold Stores (closed at LKR 631.00, -2.1%) and Asian Hotels & Properties (closed at LKR 61.10, -3.0%) drove the index performance down. However, price gains in three conglomerates, John Keells Holdings (closed at LKR 157.00, +0.6%), Hemas Holdings (closed at LKR 107.50, +1.6%) and Aitken Spence (closed at LKR 72.90, +2.7%) eased the negative impact.

Daily market turnover was LKR 469mn. Hatton National Bank emerged as the top contributor with LKR 118mn underpinned by a single crossing of 0.4mn shares at LKR 226.50. John Keells Holdings was the second best contributor with LKR 90mn supported a negotiated deal (0.2mn shares at LKR 157.00). Aggregate value of crossings accounted for 26% of the turnover.

Commercial Credit & Finance (LKR 21mn), Chevron Lubricants (LKR 20mn) and Tokyo Cement non-voting (LKR 18mn) were among top contributors.

Losers outweighed the gainers 74 to 64, while 81 scripts remained unchanged. High investor activity was seen in Commercial Credit & Finance and the counter closed the day at LKR 67.80, with a loss of 0.7%. Galadari Hotels, John Keells Hotels and Hayleys Fibre were among heavily traded scripts.

Foreign investors stood on buy side with a net foreign inflow of LKR 22mn. Foreign participation was 40%. Net foreign inflows were seen in Chevron Lubricants (LKR 14mn), LB Finance (LKR 8mn), Hatton National Bank (LKR 6mn) while net foreign outflow was mainly seen in Commercial Bank (LKR 4mn).

Source: LSL