Colombo Stock Exchange Market Review – 02nd Dec 2016

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Colombo Stock Exchange Trade Summary 02-Dec-2016

Colombo equity market wrapped the weekly operations on positive note despite foreign outflows. All Share index continued the previous session momentum as index touched the 6,331 mark but closed at 6,325.57, an increase of 16.53 index points or 0.26%. 20-scrip S&P SL 20 index gained 16.91 index points or 0.48% to end at 3,525.35.

Two largest cap, Ceylon Tobacco (closed at LKR 885.00, +1.6%) and John Keells Holdings (closed at LKR 151.00, +0.7%) pinned the index in positive territory along with gains in Aitken Spence (closed at LKR 67.50, +3.9%) and Asiri Hospital Holdings (closed at LKR 26.50, +3.1%).

Daily market turnover reached LKR 948mn supported by negotiated deals in John Keells Holdings (1.42mn shares at LKR 150.00) and Hatton National Bank (0.46mn shares at LKR 218.50). John Keells Holdings was the top contributor with LKR 343mn followed by DFCC Bank (LKR 264mn), Hatton National Bank (LKR 113mn) and Commercial Bank (LKR 88mn) respectively.

Market breadth was positive where out of 181 scripts traded today, 76 advanced and 40 declined. High investor activity was seen in Commercial Credit & Finance, John Keells Holdings and Ceylon Grain Elevators.

Major banks such as Commercial Bank (+0.1%), Hatton National Bank (+0.4%), Sampath Bank (+0.6%), National Development Bank (+0.3%) and DFCC Bank (+1.9%) continued to post gains.

Foreign investors were net sellers with a net foreign outflow of LKR 250mn. Foreign participation was 64%. Net foreign outflows were seen in DFCC Bank (LKR 260mn), Hatton National Bank (LKR 61mn) and Hemas Holdings (LKR 14mn). Net foreign inflow was mainly seen in John Keells Holdings (LKR 41mn).
Source: LSL