On Tuesday market snapped the five day losing streak and broad market index ended on positive territory. ASI gained 27.69 points (+0.47%) aided by price appreciation in index heavy counters while S&P SL 20 index decreased by 8.30 points (+0.89%). Daily market turnover was LKR 503mn. John Keells Holdings, the mostly traded stock topped the turnover list with a turnover of LKR 179mn. Further Distilleries with LKR 39mn and National Development Bank with LKR 28mn were the next top contributors to the daily turnover. Meanwhile John Keells Holdings, Valliable One and Nations Finance were mostly traded stocks during the day. Foreign participation for the day was 31% whereas foreign investors were net sellers with a net outflow of LKR 96.2mn.
Colombo bourse witnessed a major setback on Wednesday as both indices declined sharply amid the announcement of Rights issue (with attached warrants) of premier blue-chip John Keells Holdings. JKH announced the Rights issue to raise LKR 22.7bn to part finance the mega USD 650mn mixed development project. ASI lost 170.00 index points (-2.87%) while S&P SL 20 Index lost 109.40 points (-3.30%). Daily market turnover was LKR 694mn. United Motors with LKR 230mn, JKH, the mostly traded stock with LKR 156mn and Commercial Bank with LKR 53mn were the highest contributors to the market turnover. Further retail investors were gathered heavily around Touchwood Investments, Vallibel One and Richared Pieris. Foreign participation accounted for 31% of the total market activity whilst recording net inflow of LKR 203mn.
Stock market managed to regain ground on Thursday as All Share Price Index advanced 71.86 points (+1.25%) and S&P SL 20 index increased by 55.03 Points (+1.71%). Market turnover was LKR 511mn. Sampath Bank with LKR 124mn, John Keells Holdings with LKR 111mn and Peoples Finance with LKR 81mn emerged as top contributors for the day. Meanwhile John Keells Holdings, Touch Wood and Nations Lanka were among the mostly traded stocks for the session. Foreign participation accounted for 19% of the total market activity and foreign investors were net buyers with a net inflow of LKR 112mn.
Market wrapped up the weekly operations on Friday in mixed note. ASI closed at 5,834.04, up by 8.98 points (+0.15%) and S&P SL 20 Index end at 3,261.33, marginally down by 3.63 points (-0.11%). Daily market turnover was LKR 353mn. John Keells Holdings with LKR 93mn, PCH Holdings with LKR 48mn and LB Finance with LKR 27mn, was including crossing of approx.0.23mn shares at LKR 120.00 per share, were the top contributors to the market turnover. Heavy retail participation was seen in counters such as Touchwood (LKR 2.30, -23%), PC House (LKR 0.80, +33%) and its related companies. Meanwhile PCH Holdings~23% of issued shares were traded during the session and the share closed at LKR 1.10, up 57%.
Lee Hedges announced singing of a sale agreement with AVIC International Hotels Lanka Ltd (AVIC) for the sale of property situated at No.418, R.A.De Mel Mawatha, Colpetty commonly known as ‘Colpetty Mills’ in extend of One Acre and Twenty One and decimal Fifty eight perches at a total sale price of LKR 1,240,000,000.00 only subject to obtaining the approval of the shareholders of the company. The capital gain from above transaction amount to LKR 1,067mn (per share LKR 209.00) and the stock closed at LKR 249.90 (+7.8%).
Foreign participation was 16% and foreign investors were net buyers with a net inflow of LKR 66mn. Foreign net inflows were seen in counters such as John Keells Holdings (LKR 28mn), LB Finance (LKR 25mn) and Lanka Ventures (LKR 9mn).
Cash map closed at 46.0%.