Lanka Securities Market Round up 15 July 2015

Colombo Bourse extended the winning streak to a fifth session on Wednesday despite the increase in short-term treasury yields at the weekly Auction. Yields on short-term gilts inclined for the third consecutive week where 3M & 6M yields moved up by 8bps and 5bps to 6.22% and 6.31% while 12M yield advanced by 3bps to 6.31%.

Main index advanced by 39.19 index points (+0.56%) to end at 7,066.19 while 20 scrip S&P index bagged 37.38 index points or 0.95% to close at 3,957.66. Market Capitalization clinched backed to LKR 3 trillion mark supported by the gains in last five session where ASI increased by 142.40 index points (+2.0%).

Blue-chips pushed the index to the positive territory where notable gains were recorded in Distilleries (closed at LKR 280.00, +3.7%), DFCC Bank (closed at LKR 197.00, +2.9%) and Commercial Bank (closed at LKR 169.50, +2.7%).

Daily market turnover was LKR 834mn. Nestle Lanka topped the turnover with LKR 201mn underpinned by single crossing of 0.1mn shares at LKR 2,000.00 and counter accounted for 24% of the total turnover. Nations Trust Bank (LKR 60mn), Hatton National Bank (LKR 52mn) and Commercial Bank (LKR 41mn) were next best contributors to the total turnover.

Two crossings were recorded in Commercial Bank (0.2mn shares at LKR 165.00) and Nations Trust Bank (0.2mn shares at LKR 100.50. Aggregate value of crossings represented 30% of the total turnover.

Reflecting the optimistic momentum, gainers offset losers 137 to 56 while 42 counters remained unchanged. Cash map increased to 68% from 47%. 9 counters touched 52wk low prices while only Arpico Insurance (LKR 16.30), CIC Holdings non-voting (LKR 78.00) and Three Acre Farms (LKR 73.00) reached 52wk high price levels.

Arpico Insurance, Kegalle Plantations and Textured Jersey were among heavily traded counters.

Foreign investors were net sellers with a net outflow of LKR 38mn. Foreign participation was 46%. Net foreign outflows were seen Hatton National Bank (46mn), Hatton National Bank non-voting (LKR 23mn), Ceylon Tobacco (LKR 20mn) while net foreign inflow was mainly seen in Nations Trust Bank (LKR 57mn).