Colombo Stock Exchange Market Review – 17th Jan 2017

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Colombo Stock Exchange Trade Summary 17-Jan-2017

Colombo equities extended losses on Tuesday with both indices closing in negative territory. All Share Index closed at 6,186.52 with a drop of 15.13 points (-0.2%) while S&P SL 20 index closed 17.45 points (-0.5%) lower at 3,491.34.

Index performance was affected by the drop in prices in blue-chips such as Melstacorp (LKR 65.20, -2.7%), Commercial Leasing (LKR 3.20, -5.9%) and Carsons Cumberbatch (LKR 175.00, -2.8%) amid thin volumes. Market breadth was negative with losers outweighing gainers 77 to 53.

Market turnover reached LKR 511mn supported by activities in John Keells Holdings and Seylan Bank which contributed 77% of the turnover. John Keells Holdings made the biggest contribution with LKR 299mn while Seylan Bank recorded a turnover of LKR 95mn backed by a single crossing of 1mn shares at LKR 94.00. Accordingly, negotiated deals accounted for 18% of the turnover. Further, a notable contribution came from Chevron Lubricants (LKR 29mn) while none of the other counters managed to surpass LKR 10mn in turnover.

First Capital Holdings (LKR 28.00, +1.5%), John Keells Holdings (LKR 141.00, 0%) and Lanka IOC (LKR 32.00, +1.3%) were among the mostly traded stocks in today’s session.

Foreign investors were net buyers of LKR 60mn worth of shares. Foreign participation was 43%. Top net inflows were seen John Keells Holdings (LKR 78mn), Dialog Axiata (LKR 5mn) and People’s Leasing (LKR 10mn) while top net outflow was seen in Chevron Lubricants (LKR 27mn).
Source: LSL