Tuesday, 15 November 2016

Colombo Stock Exchange Market Review – 15th Nov 2016


Colombo bourse remained in negative territory on the week’s opening day despite the higher foreign participation. All Share index declined by 9.43 index points or 0.15% to end at 6,406.16 while 20-scrip S&P SL 20 index lost 6.18 index points or 0.17% to close at 3,583.79.
Index losses were driven by price depreciation in John Keells Holdings (closed at LKR 147.50, -1.3%), Vallibel One (closed at LKR 20.50, -4.7%) and DFCC Bank (closed at LKR 122.90, -2.7%). However, gains recorded in Ceylon Tobacco (closed at LKR 874.90, 2.1%) and Hemas Holdings (closed at LKR 102.60, +4.5%) eased downward pressure.

Daily market turnover was LKR 470mn. John Keells Holdings was the top contributor to the turnover with LKR 184mn followed by Commercial Bank (LKR 174mn). Two Negotiated deals were recorded in Commercial Bank where 1.1mn shares changed hands at LKR 148.00. Hatton National Bank (LKR 17mn), Ceylon Grain Elevators (LKR 12mn) and Sampath Bank (LKR 12mn) were among top contributors.

Losers outweighed the gainers 92 to 33, while 68 scripts remained unchanged. High investor activity was witnessed in John Keells Holdings, Lanka IOC, Chevron Lubricants and Access Engineering. Lanka IOC advanced by 1.7% during the session to LKR 35.90 supported by positive earnings release.

Foreign investors were net sellers with a net foreign outflow of LKR 125mn, after eight consecutive sessions of inflows. Foreign participation was 61%. Net foreign outflows were seen in John Keells Holdings (LKR 180mn), Chevron Lubricants (LKR 4mn), Janashakthi Insurance (LKR 0.2mn) while net foreign inflow was mainly seen in Hatton National Bank (LKR 17mn).
Source: LSL

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