Market extended losses further on Tuesday as ASI fell by 30.36 points (-0.53%) to end at 5,752.36 and S&P SL 20 Index closed at 3,210.89, a decline of 18.20 index points (-0.56%). Market turnover was LKR 295mn. John Keells Holdings was the top contributor to the daily turnover followed by Commercial Bank with LKR 33mn and HNB Assurance with LKR 27mn. Touchwood Investment continued to end as the heavily traded stock amid the rumors about company winding-up. Heavy investor speculation was seen in Touchwood Investment during the day and the stock reached a low of LKR 0.90. Further Asia Assets Finance and Central Investment & Finance were among the mostly traded stocks. Foreign participation for the day was 20% whilst foreign investors were net buyers with a net inflow of LKR 64mn. Cash map closed at 44%.
Bourse closed on Wednesday with lack of direction as benchmark ASI lost 7.47 points (-0.13%) to end at 5,744.89 and S&P SL 20 Index gained marginally by 0.07 points (+0.00%) to end at 3,210.96. Market turnover was LKR 432mn. John Keells Holdings with LKR 105mn, Commercial Bank with LKR 88mn and National Development Bank with LKR 32mn were the highest contributors to the daily turnover. Touchwood Investment continued to trade heavily during the day as the company officially announced that a Petitioner has filed an application to wind up the company. Further, Vallibel One, Seylan Merchant Bank and Dankotuwa Porcelain were among the heavily traded stocks during the day. Foreign participation is 44% of the total market activity and foreign investors were net sellers with a net outflow of LKR 41mn.
On Thursday Stock market indices slumped by almost 1.0% due to weakening investor confidence mainly on overall economic conditions. Benchmark ASI lost 57.90 index points (-1.01%) to end at 5,686.99 and S&P SL 20 Index lost 32.84 points (-1.02%) to end at 3,178.12. Daily market turnover was LKR 486mn. John Keells Holdings, Hemas Holdings and Panasian Power were the heavily traded stocks during the day. Hemas Holdings announced that the company has finalized the plan to construct & operate USD 40mn worth of luxury five star resort in Tangalle together with Minor Hotel Group, Thailand and the construction will begin immediately. The proposed resort scheduled to open in early 2015. Foreign participation for the day was 45% whilst net outflow of LKR 67mn.
Market wrapped up the weekly operations on Friday with negative territory as All Share Price index further lost 14.35 points (-0.25%) to closed at 5,672.64 while S&P SL 20 Index declined marginally by 0.95 points (-0.03%) and closed at 3,177.17. Price depreciations in blue chips such as Ceylon Tobacco by LKR 70.60 (closed at LKR 1,090.00, -6.08%) and Nestle by LKR 27.00 (closed at LKR 2002.00, -1.33%) contributed negatively to the market performances.
Daily market turnover was LKR 239mn. John Keells Holdings recorded the highest turnover of LKR 126mn with the help of the single negotiated deal recorded for the session where approx. 0.16mn shares changed hands at LKR 209.50. Further Chevron Lubricants with LKR 8mn and People’s Leasing & Finance PLC with LKR 8mn emerged as top contributors to the market performance.
Central Investments & Finance, Commercial Credit and SMB Leasing were among the mostly traded stocks during the day. Foreign participation for the day was 45% and foreign investors were net sellers with a net outflow of LKR 3mn. Foreign net outflows were seen in counters such as John Keells Holdings (LKR 96mn), NDB (LKR 31mn) and Watawala (LKR 23mn) while foreign net inflows were seen in Commercial Bank (LKR 61mn).
Cash map closed at 38%.