Lanka Securities Market Round up 11 June 2015

Market Review
Colombo stock market continued the losing streak where bourse witnessed negative returns for the fourth consecutive day to touch 11 week low. During the opening hours, main index managed to cross the 7,080 mark but failed to maintain the momentum, reflecting the negative investor sentiment stemming mainly from the political uncertainties.

All share index declined by 11.93 index points (-0.17%) to end at 7,051.52 while S&P SL20 index shed 8.39 index points or 0.21% to close at 3,906.02.

Price declines in heavy cap counters such as Nestle Lanka (closed at LKR 2,110.30, -1.4%),Ceylinco Insurance (closed at LKR 1,590.00, -0.6%) and Hayleys (closed at LKR 330.00, - 5.7%) affected negatively to the index performance.

Daily market turnover was LKR 836mn. Sampath Bank topped the turnover list with LKR 198mn underpinned by a single crossing of 0.1mn shares at LKR 255.00. John Keells Holdings,
Laugfs Gas voting and non-voting were next contributors with LKR 80mn, LKR 54mn and LKR 53mn respectively.

A single crossing was recorded in John Keells Holdings (0.2mn shares at LKR 190.00) and aggregate value of crossings represented 7% of the total turnover.

Out of 253 counters, 100 slipped, 92 advanced while 61 remained unchanged. Cash map sharply declined to 48% from 58%. 12 counters touched 52wk low prices while only Alufab (LKR 58.50) and Hunters & Company (LKR 450.00) reached 52wk high price levels.

Heavy investor activity was seen in Sinhaputhra Finance preference shares, Ceylon & Foreign Trades and Access Engineering counters. Sinhaputhra Finance preference shares advanced to LKR 13.00 but closed lower at LKR 11.80 (-1.7%).

Meanwhile most of the banks such as National Development Bank, Sampath Bank,
Commercial Bank, Hatton National Bank, Sanasa Development Bank and Pan Asia Bank closed with losses.

Further, York Arcade Holdings and Commercial Credit & Finance declared final dividends of LKR 0.20 & LKR 1.00 per share respectively. Despite the dividend announcement, Commercial Credit & Finance declined by 2.0% to LKR 63.50.
Debenture issue of Singer Finance which was opened today, was oversubscribed and the issue was closed today.