Navara Daily Market Insights 27 May 2015

Colombo Stock Exchange traded on a negative note with All Share Price Index closing 3.75 lower at 7,258.03, 0.05% down while more sensitive S&PSL20 closed 8.03 lower at 4,029.78, 0.20% down.

Market turnover crossed 1bn mark to Rs.1490mn, 26% increase from Rs.1184mn recorded on the previous trading day. Highest contributions to the turnover came from Seylan Bank PLC (Non-voting), Lanka Walltiles PLC Hatton National Bank PLC Rs.130mn, Rs.65mn and Rs.41mn turnover respectively.

Overall, Market was dominated by local investors with participating to 90% of the turnover. However, locals were net buyers of 482mn worth of shares while foreigners were net sellers of Rs.482mn worth of shares while the year to date net inflow stands at Rs.5.0bn.

Aggregate value of total crossings transactions amounted to Rs.419mn which was 28% of the daily turnover.

Commercial Bank of Ceylon PLC Rs.240mn worth of shares changed hands at Rs.164.00 per share while quantity worth of 180mn of National Development Bank PLC crossed hands at Rs.275.00 per share contributing to Rs.419mn turnover.

Sinhaputhra Finance PLC and Ceylon Grain Elevators PLC attracted retail investor appetite with recording highest number of trades of 764 and 558 during the day.

Top gainers list was led Sinhaputhra Finance PLC with 24.05% return for the day and closed Rs.1.90 higher at Rs.9.80. Meanwhile, top decliners list was led by SMB Leasing PLC with 25.00% price deprecation and closed Rs.0.10 lower at Rs.0.30.