Lanka Securities Market Round up 16 July 2015

Bullish sentiments stretched the gains for the sixth consecutive session amid notable
improvements in Beverage Food & Tobacco, Construction & Engineering and
Telecommunication sectors.

All share price index advanced by 57.95 index points or 0.82% to record a 6-week high of 7,124.14 whilst S&P SL 20 index advanced by 33.55 points (+0.85%) to end at 3,991.21.

Blue chips such as Sri Lanka Telecom (closed at LKR 50.00, +3.7%), Commercial Bank (closed at LKR 170.00, +2.0%) and Dialog Axiata (closed at LKR 10.90, +1.9%) contributed positively to the market performance.

John Keells Holdings led the turnover list with LKR 434mn underpinned by two crossings where 2.1mn shares changed hands at LKR 183.00 per share. Further Commercial Bank (LKR 229mn), Sampath Bank (LKR 124mn) and Laugfs Gas (LKR 96mn) recorded next best contributions to the turnover.

Other crossings were recorded in banks such as Commercial Bank (0.6mn shares at LKR 169.10 per share), Sampath Bank (0.4mn shares at LKR 260.00 per share) and Hatton National Bank (0.2mn shares at LKR 211.00 per share). Total crossings accounted for 39% of the market turnover.

Market breadth was positive with 158 stocks rising 48 stocks declining while 46 counters remained unvaried. 09 counters declined to 52wk low prices while 06 counters advance to 52wk high prices. Cash map marginally declined to 66% from 68%.

Further, poultry sector counters such as Bairaha Farms (closed at LKR 127.00, +4.1%), Three acre farms (closed at LKR 74.40, +5.1%) and Grain Elevators (closed at LKR 55.00, +4.8%) advanced notably during the session whilst managing to attract heavy investor interest. Grain Elevators (LKR 56.00) and Three acre farms (LKR 74.90) recorded fresh 52wk high prices.

Moreover shares of Kegalle Plantations, Softlogic Finance and Textured Jersey were among heavily traded counters.

Hikkaduwa Beach Resort made an announcement to CSE informing that the company decided to borrow a sum of LKR 480mn from Sampath Bank.