Colombo Stock Exchange Market Review – 11th Nov 2016

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Colombo Stock Exchange Trade Summary 11-Nov-2016

Budget proposals failed to turn the investor sentiments on Friday and both indices closed with negative returns. All Share index lost 5.19 index points or 0.08% to end at 6,415.59 while 20-scrip S&P SL index shed 3.68 index points of 0.10% to end at 3,589.97. 

Price depreciations in Hemas Holdings (closed at LKR 98.20, -4.7), Nestle Lanka (closed at LKR 2,065.80, -1.6%) and Dialog Axiata (closed at LKR 11.20, -0.9%) drove the index down.

Daily market turnover recorded 32 month low of LKR 112mn. Tokyo Cement topped the turnover with LKR 28mn followed by Serendib Hotels (LKR 16mn), Ceylon Grain Elevators (LKR 7mn) and Tokyo Cement non-voting (LKR 6mn). No crossings were recorded during the session. 

Market breadth was negative where out of 186 counters, 65 slipped, 48 advanced while 73 counters remained unchanged. High investor activity was witnessed in Tokyo Cement, Access Engineering, Ceylon Grain Elevators and Tokyo Cement non-voting. 

Ceylon Tobacco declared the third interim dividend of LKR 16.00 per share. So far during the FY2016, company has declared dividends of LKR 48.30 per share against the total dividend of LKR 45.15 per share in FY2015. 

Foreign investors were net buyers with a net foreign inflow of LKR 2mn. Foreign participation was 4%. Net foreign inflows were seen in Sampath Bank (LKR 3mn) and Watawala Plantations (LKR 0.4mn). Net foreign outflow was mainly seen in John Keells Holdings (LKR 1mn).

Please note that the Colombo Stock Exchange will be closed on Monday (14th November 2016) due to public holiday.

Source: LSL