Navara Daily Market Insights 03 June 2015

Colombo Stock Exchange traded on a negative note with All Share Price Index closing 45.73 lower at 7,149.46, 0.64% down while more sensitive S&PSL20 closed 25.15 lower at 3,961.02, 0.63% down.

Market turnover was Rs.958mn, 31% increase from Rs.731mn recorded on the previous trading day. Highest contributions to the turnover came from Commercial Bank of Ceylon PLC, ACL Cables PLC and Seylan Bank PLC (non-voting) of Rs.87mn, Rs.69mn and Rs.48mn turnover respectively.

Overall, Market was dominated by local investors with participating to 77% of the turnover. However, locals were net buyers of 72mn worth of shares while foreigners were net sellers of Rs.72mn worth of shares while the year to date net inflow stands at Rs.4.4bn.

Aggregate value of total crossings transactions amounted to Rs.101mn which was 11% of the daily turnover.

Commercial Bank of Ceylon PLC Rs.75mn worth of shares changed hands at Rs.160.00 per share while Chevron Lubricants Lanka PLC Changed hands at Rs. 386.00 per share with Rs.26mn worth of shares at two trades.

Eastern Merchants PLC and Ceylon & Foreign Trades PLC attracted retail investor appetite with recording highest number of trades of 815 and 622 during the day.

Top gainers list was led by Ceylon & Foreign Trades PLC with 23.33% return for the day and closed Rs.1.40 higher at Rs.7.40. Meanwhile, top decliners list was led by Huejay International Investments PLC with 12.54% price deprecation and closed Rs.7.90 lower at Rs.55.10.

Weighted Averages of Treasury bills of all three maturities at the Treasury bill auction held yesterday was 6.29% in 364 day maturity and was 6.18% and 6.07% in 182 days and 91 days maturities respectively and no change in basis points was identified compared with the last treasury bill auction.