Lanka Securities Market Round up 22 June 2015

Colombo stock market witnessed lackluster trading session on opening day of the week despite the mild gains. Investor sentiment continued to remain weak amid the prevailing political perplexity. Main index slightly advanced by 4.50 index points (0.06%) to close at 7,039.65 while 20-scrip S&P SL bagged 6.41 index points or 0.16% to end at 3,924.82.

Price inclines in counters such as Nestle Lanka (closed at LKR 2,150.00, +7.4%), John Keells Holdings (closed at LKR 200.10, +1.2%) and Aitken Spence Hotel Holdings (closed at LKR 79.60, +4.7%) contributed positively to the index performance.

Daily market turnover was LKR 489mn. DFCC Bank emerged as the top contributor to the total turnover with LKR 105mn underpinned by two crossings of 0.5mn shares at LKR 200.00 and counter accounted for 21% of the total turnover. Anilana Hotels and Properties and Hatton National Bank were next best contributors to the turnover with LKR 53mn and LKR 35mn respectively.

Anilana Hotels and Properties, Nation Lanka Finance and Sinhaputhra Finance were the heavily traded counters. Moreover, active trading was witnessed in bank and finance stocks during the session.

Out of 240 counters, 95 advanced, 82 slipped while 60 counters remained unchanged. Cash map inclined to 48% from 36%. 11 counters touched 52wk low price levels while counters such as Three Acre Farms (LKR 67.40), East West Properties (LKR 17.20) and J.L.Morison Sons & Jones (LKR 300.00) advanced to 52wk high prices. However, Three Acre Farms and East West Properties closed below at LKR 65.20 (+0.5%) and LKR 17.00 (+1.2%) respectively.

Meanwhile Citrus Leisure stock declined to 52wk low price of LKR 12.00 (-2.4%) regardless of the announcement of 50 room boutique business hotel scheduled to open on Friday (26th June 2015).

Further, as per the announcement made, Dr. T. Senthilverl has increased his current holding of issued shares of Watawala Plantations to 10.05%. Stock closed lower at LKR 22.30 (-3.0%).

Foreign investors were net sellers for the second consecutive day with a net foreign outflow of LKR 51mn. Foreign participation was 17%. Net foreign outflows were seen in DFCC Bank (LKR 52mn), Ceylon Cold Stores (LKR 12mn), Commercial Bank