Price appreciations in primary blue chips such as Ceylon Tobacco (closed at LKR 1,230.00, +2.3%), John Keells Holdings (closed at LKR 249.40, +1.0%), Chevron Lubricants (closed at LKR 294.40, +3.7%) and Commercial Bank (closed at LKR 128.00, +0.6%).
Out of the 258 actively traded stocks, 172 closed with gains while 52 closed with negative returns. Cash map ended at 54%.
JKH topped the contribution list
The market turnover was LKR 1.4bn. John Keells Holdings emerged as the top contributor to the market turnover (LKR 241mn) followed by Chevron Lubricants (LKR 137mn) and Commercial Bank (LKR 115mn). Three crossings in Commercial Bank (approx. 0.4mn shares at LKR 128.00), Chevron Lubricants (approx. 0.5mn shares at LKR 282.00) and Hayleys (0.1mn shares at LKR 297.00) contributed a total of LKR 206mn to the market turnover (15%).
Heavily traded stocks: TFC non-voting and TWOD
The Finance non-voting further managed to attract retail investor interest to close at LKR 8.20 (+2.5%). Moreover, Touchwood Investments, Expo Lanka, and Seylan Merchant Bank traded heavily during the day. Expo Lanka (closed at LKR 9.00, +7.1%) and Seylan Merchant Bank (closed at LKR 1.30, +30%) reached new 52wk high prices. Further, 16 counters touched the 52wk high price levels during the trading session.
T-Bill rates remain steady
Weekly Treasury bill auction witnessed the 6-month and 12-month tenor rates staying steady as last week’s rates of 7.02% and 7.15% respectively. 3-month rate just drifted down by 2.0 basis points to stand at 6.84%.
In addition, Central Bank Governor Ajith Nivard Cabral has stated to Bloomberg newswires that Sri Lanka’s interest rates are at an appropriate level and the CB probably will keep borrowing costs steady for the next three to six months.
Second consecutive days of net foreign inflows
Foreign investors were net buyers with a net inflow of LKR 291mn where foreign participation accounted for 32% of the market activity. Foreign net inflows were reported in counters such as John Keells Holdings (LKR 216mn), Commercial Bank (LKR 80mn) and Expo Lanka (LKR 23mn) while net outflows were reported in counters such as Textured Jersey (LKR 54mn) and Kingsbury Hotel (LKR 7mn).
Furthermore, Cargills announced that they have been granted a license for commercial banking operations by the central bank under ‘Cargills Bank Limited’.