Lanka Securities Market Round up 22 July 2015

Bullish sentiments from domestic investors drove the market indices to a positive territory on Wednesday as All share Price index advanced sharply by 54.04 index points or +0.76% to end at 7,199.63 despite the increase in weekly Treasury bill auction. S&P SL 20 index crossed the 4,000 mark to end at 4,037.83, with a gain of 42.86 points (+1.07%).

Daily market turnover was LKR 1.6bn. High net worth and institutional participation was witnessed in blue chips such as Commercial Bank (1.8mn shares at LKR 168.00 per share), John Keells Holdings (0.6mn shares at a price range of LKR 184.80-188.80) and Sampath Bank (0.5mn shares at LKR 260.00 per share) as parcel trades. Crossings accounted for 34% of the market turnover.

Primary Blue chips such as John Keells Holdings (closed at LKR 189.70, +2.5%), Distilleries (closed at LKR 280.00, +3.5%) and Lanka Orix Leasing Company (closed at LKR 107.00, +2.9%) contributed favorably to the market performance. Further both Warrants of John Keells Holdings witnessed positive returns during the session. JKH warrants 0022 and 0023 inclined to LKR 25.80 (+17.3%) and LKR 37.70 (+5.6%) respectively.

Commercial Bank positioned at the top of the turnover list with LKR 322mn followed by John Keells Holdings (LKR 222mn), Sampath Bank (LKR 140mn) and Laugfs Gas (LKR 75mn).

The market breath was positive with 164 stocks rising 47 stocks declining while 48 counters remained unchanged. Cash map further stepped up to 62% from 57%. Meanwhile nine counters declined to 52wk high prices. Kegalle Plantations extended the losses after the XD date to record a fresh 52wk low price of LKR 81.00 per share, but recovered to close at LKR 83.00, -3.4%. Further Blue Diamonds recorded a 52wk low price of LKR 0.50.

Further poultry sector counters such as Ceylon Grain elevators (closed at LKR 58.00, +2.8%), Three Acre Farms (closed at LKR 74.00, +0.3%) and Bairaha Farms (closed at LKR 132.40, +3.4%) advanced today.

Moreover, out of 20 counters in S&P SL index 13 counters advanced, 03 counters weakened while 04 counters remained unvaried. Entire blue chip banking counters namely Commercial Bank (+0.6%), DFCC Bank (+0.6%), Sampath Bank (+0.8%), Hatton National Bank (1.4%) and National Development Bank (1.5%) improved.