Premier blue-chips such as John Keells Holdings (LKR 147.10,-1.1%), LOLC (LKR 74.50,-4.5%) and Sri Lanka Telecom (LKR 33.60,-2.6%) led the losers in today’s session. Out of the 186 scripts traded today only 41 managed to increase in price while 64 closed with negative returns. Among the gainers were Hemas Holdings (LKR 100.00, +2%) and Lanka Hospitals (LKR 68.30,+2.9%)
Despite the weak sentiments in the broader market, institutional investor activity in Seylan Bank pushed the turnover to LKR 1.9bn. Foreign investors bought 13.2mn shares of Seylan Bank at LKR 100.00 in a single crossing and the trade accounted for 70% of the turnover. Further crossings were seen in Chevron Lubricants (1mn shares at LKR 161.00) and Commercial Bank (0.7mn shares at LKR 145.00) and the three negotiated deals accounted for 85% of the market activity. Accordingly, Seylan Bank (LKR 1.3bn) emerged as the top contributor to the turnover along with Commercial Bank (LKR 179mn) and Chevron Lubricants (LKR 176mn).
Activity in the normal board was dominated by Sanasa Development Bank which saw its share price rising 6% to LKR 105.00 following the announcement of proposed LKR 3.3bn fund raising. As per the announcement, LKR 1.5bn will be raised by an issue of 10.4mn shares (at LKR 140.00) to FMO, SBI-FMO and IFC via a private placement while the balance will be raised through subordinated convertible term loans placed with the same investors.
Apart from Sanasa Development Bank, shares of Chevron Lubricants, John Keells Holdings and Pan Asia Bank saw relatively high level of trading.
Foreign investors were net buyers in today’s session with net inflow of LKR 1.4bn. Foreign participation was 57%. Top net inflows were seen in Seylan Bank (LKR 1.3bn), Hemas Holdings (LKR 24mn) and DFCC Bank (LKR 7mn) while top net outflow was seen in Chevron Lubricants (LKR 14mn).
Source: LSL
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