Commercial Bank (LKR 145.00, +2.1%) and Hatton National Bank (LKR 228.30,+2.7%) drove the index to the positive territory along with John Keells Holdings (LKR 144.90,+1.1%) and Trans Asia Hotels (LKR 94.00, +8.7%). Market breadth remained positive with gainers outweighing losers 77 to 46.
Bulk trades in Sunshine Holdings (16mn shares at LKR 47.50 per share) and Commercial Bank (5.0mn shares at LKR 145.00) pushed the turnover to LKR 1.7bn and the negotiated deals accounted for 86% of the market turnover. Apart from Commercial Bank (LKR 835mn) and Sunshine Holdings (LKR 761mn), John Keells Holdings (LKR 32mn), Ceylinco Insurance (LKR 11mn) and Hatton National Bank (LKR 8mn) made noteworthy contributions to the turnover.
Retail activity was mostly centered on Lanka IOC (LKR 30.60, +0.7%), John Keells Holdings and Ceylon Grain Elevators (LKR 83.00, +1.8%). Subsequent to the announcement of the rights issue, Abans Finance declined 10.9% to LKR 32.00. The company intends to raise LKR 277mn via rights issue in the proportion of one new share for every five existing shares at the price of LKR 25.00 per share.
Foreign investors were net buyers of LKR 16mn worth of equities. Foreign participation accounted for 51% of the market activity. Top net inflows were seen in Commercial Bank (LKR 13mn), Hatton National Bank (LKR 6mn) and Three Acre Farms (LKR 1mn). Top net outflow was seen in Chevron Lubricants (LKR 2mn).
At the weekly Treasury bill auction held today, the yields increased across the board with 3-month yield increasing by 7bps to 8.72%, 6-month yields increasing by 2bps to 9.63% and 12-month yield increasing by 3bps to 10.17%. Central Bank offered LKR 11.5bn worth of T-bills and the auction was oversubscribed by two times. It was decided to accept LKR 8.5bn worth of T-bills.
Source: LSL
Source: LSL
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