Lanka Securities Market Round up 8 July 2015

Colombo benchmark stock index tumbled for the third consecutive day to record a three month low amid the increase in short-term treasury yields. Political uncertainties continued to keep investors on sidelines and the bourse witnessed another lackluster trading session.

All Share index shed hefty returns of 43.99 index points (-0.63%) to end at 6,923.79 while S&P SL20 index recorded a 14 week low to close at 3,850.37 with a loss of 41.16 index points or 1.06%.

Decline in index was mainly led by high cap counters such as John Keells Holdings (closed at LKR 175.10, -2.8%), Sri Lanka Telecom (closed at LKR 43.00, -3.6%) and Hatton National Bank (closed at LKR 205.00, -1.4%).

Daily market turnover was LKR 520mn. Lanka Milk Foods emerged as the top contributor to the total turnover with LKR 81mn underpinned by two crossings of 0.5mn shares at LKR 155.30. Seylan Bank, Ceylon Tobacco and John Keells Holdings were next best contributors to the turnover with LKR 51mn, LKR 49mn and LKR 47mn respectively.

Several crossings were recorded in Seylan Bank (0.5mn shares at LKR 100.00), Ceylon Tobacco (0.05mn shares at LKR 892.00) and Citizen Development Business Finance (0.3mn shares at LKR 110.00). Accordingly, aggregate value of crossings represented 39% of the total turnover.

Losers offset gainers, 99 to 72 while 54 counters remained unchanged. Cash map declined sharply to 35% from 52%. 12 counters touched 52wk low prices while only Vidullanka reached a fresh 52wk high price of LKR 9.20 but closed lower at LKR 9.10 (+3.4%).

Meanwhile, telecommunication sector counters such as Dialog Axiata and Sri Lanka Telecom declined to 52wk low prices of LKR 10.20 and LKR 43.00 respectively. Dialog Axiata closed flat at LKR 10.30 while Sri Lanka Telecom declined by 3.6%.

Cargills (Ceylon) declared a final dividend of LKR 1.30 per share and counter closed at LKR 140.90 (+0.6%).

All the three counters of John Keells Holdings witnessed negative returns. JKH warrants 0022 and 0023 declined to LKR 18.30 (-3.7%) and LKR 31.00 (-3.1%) respectively.
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