Lanka Securities Market Round up 6 July 2015

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Lanka Securities Market Round up 6 July 2015 Empty Lanka Securities Market Round up 6 July 2015

Post  Melissa Pereira on Tue Jul 07, 2015 9:52 am

Colombo shares drifted lower on Monday in another light trading session as the political uncertainties checkmated the points gained in the previous session. The main index started out with a positive tone in the morning session to record a gain of 35.26 points or -0.5%, but changed directions in the afternoon to end the activities in red zone.

The main index lost 17.64 index points or -0.25% to end at 6,989.41 while S&P SL 20 index marginally lost 3.49 pints (-0.09% to end at 3,911.49.

The losses were mainly led by price depreciations in counters such as Nestle Lanka (closed at LKR 2,040.00, -2.8%), Ceylon Tobacco (closed at LKR 895.00, -0.5%) and Vallibel One (closed at LKR 22.80, -3%).

Daily market turnover was LKR 454mn. John Keells Holdings positioned at the top of the turnover list with LKR 83mn underpinned by two crossings where approx. 0.3mn shares changed hands at LKR 182.70 per share. Total crossings accounted for 11% of the market turnover.

Further, Laugfs Gas non-voting (LKR 67mn), Laugfs Gas (LKR 60mn) and Access Engineering (LKR 45mn) recorded next best contributions to the turnover.

Moreover shares of Access Engineering, Waskaduwa Beach Resort, Textured Jersey and Three Acre Farms were among heavily traded counters.

The losers outweighed the gainers 93 to 78 while 56 counters remained unvaried. Cash map improved to 66% from 52%. 11 counters dropped to 52wk low prices while only Three Acre Farms advanced to 52wk high price. Three Acre Farms advanced to a 52wk high price of LKR 69.90, +2.8%, but closed at LKR 68.30, +0.4%.

In addition counters such as Hayleys Fabric (closed at LKR 18.00, +2.9%) and Dankotuwa Porcelain (closed at LKR 11.40, +0.9%) advanced today following the media report regarding positive prospects of GSP Plus. According to the report the US President has reestablished the GSP Plus scheme with effect from 29th July 2015 until 31st December 2017. However despite the positive news Textured Jersey declined and closed at LKR 27.40, -0.4%
Please refer the link for more detail- http://www.lsl.lk/pdf/research/marketroundup.pdf

Melissa Pereira

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