Colombo Stock Exchange Market Review – 20th Feb 2017

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Colombo Stock Exchange Trade Summary 20-Feb-2017

Colombo bourse extended losing streak for the third consecutive day amid price decline in blue-chips. All Share index shed 20.36 index points or 0.33% to end at 6,139.51 while 20-scrip S&P SL index edged lower by 5.56 index points or 0.16% to end at 3,538.07.

Blue-chips namely, Ceylon Tobacco (LKR 815.00, -1.8%) and John Keells Holdings (LKR 145.20, -1.2%) spearheaded the index decline along with price drop in Richard Pieris (LKR 8.10, -8.0%) on its XD.

Daily market turnover reached 729mn supported by negotiated deals which accounted for 46% of the turnover. Dunamis Capital was the top contributor to the turnover with LKR 264mn underpinned by a single crossing of 12mn shares (9.8% issued shares of CSEC) at LKR 22.00. Cargills (LKR 130mn), Hatton National Bank (LKR 92mn) and Hemas Holdings (LKR 86mn) made notable contribution.

Three negotiated deals were recorded in Cargills (0.3mn shares at LKR 195.00) and Tokyo Cement non-voting (0.4mn shares at LKR 54.00).

Losers outweighed the gainers 81 to 46, while 74 Stocks remained unchanged. Pan Asia Bank rights (LKR 0.30, +25%) attracted high investor preference on its renunciation. Central Investments & Finance, Richard Pieris & Company and Pan Asia Bank were among heavily traded counters.

Foreign investors stood on sell side with net foreign outflow of LKR 35mn. Foreign participation was 34%. Net foreign outflows were seen in Cargills (LKR 98mn), Hatton National Bank (LKR 39mn), and Overseas Realty (LKR 1mn). Net foreign inflows were mainly seen in Hemas Holdings (LKR 54mn) and Lanka Tiles (LKR 29mn).
Source: LSL