Index heavy counters gave the market momentum for the second consecutive session to wrap the market activities on an optimistic note amid retail investor activities. The main index gained 37.07 points or +0.53% to end at 6,984.12 while S&P SL 20 index gained 34.56 (+0.89%) to end at 3,905.27.
Price improvements in primary blue chips such as John Keells Holding (closed at LKR 183.40, +2.5%), Commercial Bank (closed at LKR 164.00, +1.2%) and Distilleries (closed at LKR 270.00, +1.9%) driven the market to a positive territory.
Daily market turnover was LKR 602mn. Dialog Axiata topped the turnover list with LKR 78mn followed by John Keells Holdings (LKR 70mn), Laugfs Gas non-voting (LKR 64mn) and National Development Bank (LKR 49mn).
Only a single crossing was recorded in National Development Bank where 0.2mn shares changed hands at LKR 257.00 per share. The crossing represented 8% of the market turnover.
Gainers outperformed the losers 141 to 51 while 47 counters remained unvaried. 11 equities declined to 52wk low prices while Vidullanka continued the positive momentum for the fourth consecutive session to record a fresh 52wk high price of LKR 9.40, +1.1%. Further Union Assurance recorded a 52wk high price of LKR 190.00, +18%, but closed at LKR 164.00, +1.9%. Cash map inclined to 56% from 33%.
Moreover shares of John Keells Holdings warrant 0022, John Keells Holdings, Access Engineering and Nation Lanka Finance were among heavily traded counters. Out of 20 counters in S&P SL index 14 counters advanced today and 06 counters closed with flat returns.
Meanwhile several plantation companies were traded notably today after the sluggish momentum seen in the recent period. Kegalle Plantation advanced to LKR 99.00, +13%, but closed at 95.00, +8% amid expectations on a dividend announcement. Further Kahawatte Plantation (+11.3%), Udupussellawa Planation (+9.1%), Bogawantalawa Plantation (+3.6%), Elpitiya Planation (+1.9%) advanced during the session.
Dialog Axiata continued to retain investor interest after bulky transactions recorded in yesterday’s session and counter closed at LKR 10.60 with a gain of +2.9%.
Sampath bank recovered lost ground to close at LKR 253.00, +0.9%. All the other heavy weight banking sector counters namely Hatton National Bank (+0.4%), Commercial Bank (+1.2%), DFCC Bank (+0.1%) and National Development Bank (+0.4%) advanced during the session.
Foreign investors continued to be net sellers for the eighth consecutive day with a net outflow of LKR 231mn. Foreign participation was 34%. Net foreign outflows were seen Dialog Axiata (LKR 71mn), Laugfs Gas non-voting (LKR 56mn) and National Development Bank (LKR 47mn) while net foreign inflow was mainly seen in Lanka Century Investment (LKR 33mn). Subsequent to today’s foreign outflows, the year to date net foreign inflow dropped to LKR 282mn.
During the week the main index shed 22.93 points or -0.33% while S&P SL 20 index shed by 9.71 points or -0.25%. Dialog Axiata topped the weekly turnover list with LKR 658mn followed by John Keells Holdings (LKR 499mn) and Seylan Bank (LKR 204mn).
Nation Lanka Finance (+24%), Kegalle Plantation (+12%) and Vidullanka (+11%) were among top gainers for the week whilst Pegasus Hotels (-8%), Browns Investments (-6%) and Anilana Hotels & Properties (-6%) were among top losers for the week.
Foreign investors were net sellers for the week with a net foreign outflow of LKR 1.1bn. Foreign participation was 35%. Net foreign outflows were seen in Dialog Axiata (LKR 648mn), Textured Jersey (LKR 443mn) and Commercial Bank (LKR 149mn) while net foreign inflows were seen in Lanka Milk Foods (LKR 88mn), Hemas Holdings (LKR 71mn) and Lanka Century Investments (LKR 31mn).
Meanwhile at the Treasury bill auction, yields of 3M and 6M treasuries inclined by 3bps and 5bps to 6.14% and 6.26% respectively. 12M yield remained unchanged 6.28%. CBSL offered LKR 22bn worth of Treasury bills and the auction was oversubscribed by 3.5 times with bids received amounting to LKR 76.2bn. It was decided to accept LKR 24.3bn.