Colombo Stock Exchange Market Review – 18th Nov 2016

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Colombo Stock Exchange Trade Summary 18-Nov-2016

Colombo Bourse edged lower on Friday for the fifth consecutive day in thin trade. ASI closed at 6,326.11, a dip of 18.17 points (-0.3%) and S&P SL 20 index lost 12.12 points (-0.3%) to close at 3,514.98.

Negative returns in Nestle Lanka (LKR 2,002.50,-2.3%), Sri Lanka Telecom (LKR 35.50,-3.8%) and Hatton National Bank – voting (LKR 229.00,-1.6%) dragged the index to negative territory despite gains in premier blue-chip John Keells Holdings (LKR 146.00,+0.7%).

Market turnover was LKR 272mn. Chevron Lubricants (LKR 69mn) made the biggest contribution to the turnover supported by an off-the-deal of 0.3mn shares at LKR 158.50. Further Dialog Axiata (LKR 46mn) and Access Engineering (LKR 32mn) made noteworthy contributions to the turnover. Along with the crossing in Access Engineering (1mn shares at LKR 24.80), negotiated deals contributed 27% of the day’s turnover.

Market sentiments remained bearish with losers outweighing gainers 67 to 51. Commercial Credit, Access Engineering and John Keells Holdings were among the heavily traded counters.

Foreign investors were net sellers with net foreign outflow of LKR 32mn. Foreign participation was 29%. Top net outflows were seen in Dialog Axiata (LKR 20mn), Richard Pieris (LKR 20mn), Access Engineering (LKR 3mn) while top net inflow was recorded in Expolanka Holdings (LKR 8mn).
Source: LSL