Price losses in high caps, John Keells Holdings (closed at LKR 140.00, -0.6%), Asiri Hospital Holdings (closed at LKR 26.00, -3.7%) and Sri Lanka Telecom (closed at LKR 35.40, -1.4%) drove the index to negative territory. However, gains in Dialog Axiata (closed at LKR 10.60, +1.0%) and Commercial Leasing & Finance (closed at LKR 3.30, +3.1%) helped to ease the pressure on the index.
Daily market turnover crossed LKR 1.5bn mark supported by hefty crossings in selected high caps. Aggregate value of crossings accounted for 72% of the turnover. Royal Ceramics contributed majority of the turnover with LKR 689mn underpinned by six crossings of 5.5mn shares at LKR 125.00. John Keells Holdings (LKR 458mn), Hemas Holdings (LKR 256mn) and Softlogic Holdings (LKR 26mn) made notable contributions backed by negotiated deals.
Off-the-floor dealings were recorded in John Keells Holdings (1.0mn shares at LKR 140.00), Hemas Holdings (2.5mn shares at LKR 102.00) and Softlogic Holdings (LKR 2.0mn shares at LKR 13.00).
Losers outweighed the gainers 89 to 44, while 70 stocks remained unchanged. Relatively high investor activity was seen in John Keells Holdings, Melstacorp and First Capital Holdings. On its XD date, stock of First Capital Holdings lost 9.3% of its value in thin trade to close at LKR 25.40.
According to the interim results of LB Finance, company net earnings increased by 9%YoY in 3QFY17. However, share price fell 0.7% to close at LKR 120.10.
Foreign investors stood on sell side with a net foreign outflow of LKR 156mn. Foreign investor participation for the day was 43%. Net foreign outflows were seen in John Keells Holdings (LKR 148mn), Seylan Bank (9mn), Chevron Lubricants (LKR 7mn) while net foreign inflow was mainly seen in People’s Leasing & Finance (LKR 6mn ).
Source: LSL
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