Lanka Securities Market Round up 30 June 2015

Colombo stock market closed with negative returns on Tuesday amid the increase in treasury bill rates. Reflecting the weak investor sentiment, All Share index advanced to 7,035 mark but failed to maintain the optimistic momentum. Main share index shed 11.35 index points (-0.16%) to end at 7,020.80 while 20-scrip S&P SL index marginally declined by 3.93 index points or -0.10% to close at 3,908.03.

Price depreciation in Commercial Leasing and Finance (closed at LKR 4.20, -2.3%), Sri Lanka Telecom (closed at LKR 44.20, -1.8%) and CT Holdings (closed at LKR 130.00, -5.5%) dragged index performance to red zone.

Daily market turnover was LKR 652mn. Commercial Bank topped the turnover list with LKR 208mn underpinned by two crossings of 1.3mn shares at LKR 160.00 and stock accounted for 32% of the total turnover.

Access Engineering, CIC Holdings and Hatton National Bank were next best contributors to the turnover with LKR 42mn, LKR 27mn and LKR 26mn respectively. Single crossing was recorded in Hatton National Bank (0.1mn shares at LKR 217.80). Aggregate value of crossings represented 35% of the total turnover.

Out of 253 counters, 102 advanced, 87 slipped while 64 remained unchanged. Cash map declined to 55% from 67%. 11 counters touched 52wk low prices while only Kelani Cables reached 52wk high price of LKR 108.00 supported by the interim dividend announcement of LKR 3.00 per share. Counter closed lower at LKR 106.00 (-1.2%).

Meanwhile, index high cap counters such as Sri Lanka Telecom and Ceylon Tobacco touched fresh 52wk low prices of LKR 44.00 and LKR 896.50 respectively.

Textured Jersey counter witnessed heavy trading following the announcement of the decision to acquire Ocean Mauritius Ltd and the consequent share swap to partly fund the acquisition. Stock declined to LKR 27.90 initially but closed higher at LKR 28.00 (-2.1%).

Access Engineering, Laxapana Batteries and Lanka IOC were among heavily traded counters. Further, ACL Plastics declared an interim dividend of LKR 4.00 per share and stock closed at LKR 127.00.
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