Colombo equities continued the positive vibes after the general election and the benchmark index tapped the 30 week high of 7,531.27 but closed with flat returns. All share index closed at 7,498.78, marginally up by 0.08 index points or (+0.0%) while S&P SL20 index gained 6.60 index points (+0.16%) to end at 4,164.31.
Index-heavy caps such as Bukit Darah (closed at LKR 699.90, +7.7%), Cargills Ceylon (closed at LKR 186.00, +6.2%) led the index to the positive territory while price decline in Distilleries (closed at LKR 301.00, -2.9%) and Hemas Holdings (closed at LKR 91.00, -2.2%) affected negatively to the index performance.
Daily market turnover was Rs 2.3bn which was boosted by a single off-the-floor dealing of 4.8mn shares in Nations Trust Bank at LKR 105.00. Accordingly, Nations Trust Bank emerged as the top contributor to the turnover with LKR 514mn. John Keells Holdings (LKR 373mn), Bansei Royal Resort (LKR 184mn) and Distilleries (LKR 153mn) were next best contributors to the turnover supported by crossings.
Several crossings in John Keells Holdings (1.7mn shares at 190.50-191.00), Bansei Royal Resort (16.7mn shares at LKR 11.00), Distilleries (0.6mn shares at LKR 300.00), Access Engineering (1.9mn shares at LKR 26.40) and Dialog Axiata (3.3mn shares at LKR 11.90) were recorded during the session. Aggregate value of total crossings represented 46% of the total turnover.
Retail investors gathered around Lanka Cement counter and stock moved to LKR 9.80 but closed below at LKR 9.10 (+15.2%). Poultry stocks extended gains where Ceylon Grain Elevators, Three Acre Farms and Bairaha Farms touched new highs. Ceylon Grain Elevators advanced to LKR 86.90 while Three Acre Farms and Bairaha Farms increased to LKR 128.80 and LKR 195.00 respectively. However, Ceylon Grain Elevators&Bairaha Farms closed below at LKR 81.00, (-1.2%) and LKR 186.50, (-1.7%).
Meanwhile, First Capital Holdings, Entrust Securities, Central Industries and Lanka IOC were among heavily traded stocks.
Out of 262 stocks, 112 advanced, 100 slipped and 50 counters remained unchanged. Cash map remained at 54%. 17 counters managed to reach 52wk high prices while only Hikkaduwa Beach Resort (LKR 15.20), Amana Takaful (LKR 1.20) and Blue Diamonds non-voting (LKR 0.50) touched 52wk low price levels.
During the session, Associated Motor Finance declared a final dividend of LKR 12.00 per share and counter increased to LKR 441.00 (+4.9%).
Foreign investors were net sellers for the second consecutive day with a net foreign outflow of LKR 61mn. Foreign participation was 33%. Net foreign outflow was mainly seen in Laugfs Gas - nonvoting (LKR 37mn), Access Engineering (LKR 18mn) and Sampath Bank (LKR 16mn) while net foreign inflow was mainly seen in Sierra Cables (LKR 44mn).
Meanwhile at today's Treasury bill auction, the yields inclined where yields of 6M and 12M treasuries inclined by 9bps to 6.66% and 6.72% respectively whilst 3M yield advanced by 8bps to 6.36%. CBSL offered LKR 16bn worth of Treasury bills today and the auction was oversubscribed by 2.0 times with bids received amounting to LKR 31bn. It was decided to accept LKR 5bn.
Courtesy: Daily News 20 August 2015