Lanka Securities Market Roundup 8 September 2015

Colombo stock market extended the losing streak for the third consecutive day amid the concerns over BOP and currency depreciation. Bourse witnessed a thin trading session where turnover hit 07 week low of LKR 431mn.

All share index dropped by 0.35% or 25.24 index points to close at 7,124.46 while 20-scrip S&P SL index shed 16.86 index points (-0.43%) to end at 3,914.04. During the last three sessions, benchmark index decreased by 121.04 index points (-1.7%) and year-to-date loss on ASI extended to 2.4%.

Premier blue chip, John Keells Holdings dragged index performance down where voting share dipped to LKR 174.60, down by -1.5%. Along with the voting share, warrant 0022 traded heavily and counter declined to LKR 10.30 (-33.5%) in the latter part of the trading session but managed to close higher at LKR 11.10 (-28.4%). Warrant 0023 remained unchanged at LKR 35.50.

Further, index heavy caps such as Commercial Bank (closed at LKR 166.00, -1.2%), Trans Asia Hotels (closed at LKR 85.00, -8.6%) and Ceylon Tobacco (closed at LKR 970.00, 0.5%) impacted negatively to the index performance.

John Keells Holdings topped the turnover with LKR 97mn followed by Hatton National Bank (LKR 31mn), Dialog Axiata (LKR 29mn) and Textured Jersey (LKR 26mn). Off-the-floor dealing of 2.2mn shares of Dialog Axiata changed hands at LKR 11.40 and accounted for 6% of the total turnover.

Out of 250 counters, 119 slipped, 80 advanced while 51 counters remained unchanged. Cash map dropped steeply from 40% to 29%. 21 counters touched 52wk low prices while only Kalamazoo Systems reached to 52wk high price of LKR 1,900.00.

Hayleys, John Keells Holdings, Textured Jersey were among heavily traded counters. Hayleys counter advanced to LKR 330.00 but closed lower at LKR 326.90 (+1.2%).

Foreign investors closed the day on the selling with a net foreign outflow of LKR 34mn. Foreign participation was 15%. Net foreign outflows were seen in John Keells Holdings (LKR 29mn), Seylan Bank (LKR 7mn), ACL Cables (LKR 3mn) while net foreign inflow was mainly seen in Ceylon Tobacco (LKR 5mn).
the link for more details- http://www.lsl.lk/pdf/research/marketroundup.pdf