Colombo equities edged lower on Tuesday despite higher institutional activity. All Share index declined by 7.86 index points or 0.13% to end at 6,132.68 while 20-scrip S&P SL index shed 3.31 index points or 0.09% to close at 3,489.61.
Price depreciation in high caps namely, Carsons Cumberbatch (closed at LKR 164.10, -3.5%), Ceylon Cold Stores (closed at LKR 731.80, -1.0%) and Ceylon Tobacco (closed at LKR 812.30, -0.3%) impacted the index performance with thin volumes. Losers outweighed the gainers 69 to 47 while 93 stocks remained unchanged.
Daily market turnover reached LKR 1.6bn boosted by negotiated deals in selected high caps which accounted for 85% of the turnover. Asiri Hospital Holdings made the highest contribution of LKR 782mn underpinned by a single crossing of LKR 30.5mn shares which changed hands at LKR 25.50. Dunamis Capital (LKR 402mn), John Keells Holdings (LKR 317mn) and Commercial Bank (LKR 52mn) made notable contribution.
Several negotiated deals were recorded in Dunamis Capital (16.1mn shares at LKR 25.00), John Keells Holdings (1.2mn shares at LKR 140.00) and Commercial Bank (0.3mn shares at LKR 145.00).
High investor activity was seen in Teejay Lanka and stock fell to LKR 40.10 but closed at LKR 40.20. Access Engineering, John Keells Holdings and Lanka IOC were among heavily traded stocks.
Foreign investors were net sellers with a net foreign outflow of LKR 21mn. Net foreign outflow was seen in John Keells Holdings (LKR 91mn) while net foreign inflow was seen in Commercial Bank (LKR 52mn). Foreign participation for the day was LKR 66%.
During the first month of the year, All Share index declined by 95.58 index points or 1.5% while S&P SL20 index lost 6.83 index points or 0.2%. Daily market turnover increased 50%MoM to LKR 648mn. Foreign investors were net sellers with a net foreign outflow of LKR 1.7bn. Foreign participation was 47% against 69% in December 2016.
According to the data released by Department of Census and Statistics, the annual average inflation rate increased from 4.0% in December 2016 to 4.3% in January 2017. The year-on-year change was 5.5% in January against 4.5% recorded in December.
Source: LSL
