Lanka Securities Market Round up 4 August 2015

Equities fell on Tuesday, snapping the four-day winning streak as profit taking halted the upward drive on the Colombo Bourse. In the opening hours, main index advanced to 7,345 mark but failed to continue the positive momentum and closed 26.54 index points or 0.36% below at 7,310.05 while 20-scrip S&P SL index declined by 16.06 index points (-0.39%) to end at 4,072.63.

Index heavy counters such as Ceylon Tobacco Company (closed at LKR 960.00, -1.7%), John Keells Holdings (closed at LKR 192.00, -1.2%) and Commercial Leasing & Finance (closed at LKR 4.10, -2.4%) drove the index performance to negative territory.

Daily market turnover reached to LKR 1.6bn underpinned by several crossings recorded in John Keells Holdings (1.9mn shares at LKR 191.00-191.50), Hemas Holdings (0.6mn shares at LKR 95.00) and Seylan Bank (0.2mn shares at LKR 108.20). Aggregate value of crossings represented 28% of the total turnover.

John Keells Holdings topped the turnover list with LKR 377mn followed by Hemas Holdings (LKR 121mn), Hayleys Fabric (LKR 88mn) and Royal Ceramic (LKR 55mn).

Out of 247 counters, 106 slipped, 89 advanced while 52 counters remained unchanged. Cash map declined to 49% from 53%. 13 counters managed to reach 52wk high prices while only Ceylon Leather Products warrant 14 declined to 52wk low price level.

Heavy activity was seen in all three counters of John Keells Holdings during the session. Voting share of the company advanced to LKR 195.40 in the early hours but failed to maintain the positive momentum and closed lower. Along with the voting share, both warrant 0022 and 0023 closed below at LKR 31.20 (-4.6%) and LKR 41.50 (-0.7%) respectively.

Poultry sector counters continued to attract investor preference and all three stocks, Ceylon Grain Elevators (LKR 69.00), Three Acre Farms (LKR 87.00) and Bairaha Farms (LKR 157.00) reached 52wk high price levels. Further, scripts in banking & financial sector, such as Vallibel Finance, Singer Finance, Bimputh Finance, Pan Asia Bank, Citizen Development Business Finance non-voting advanced to 52wk high prices during the session.

Meanwhile, the 74% profit growth in Sathosa Motors for the June quarter failed to attract investor interest and the stock closed below at LKR 273.10 (-7.5%). In addition, Haycarb declined to LKR 190.00 (-2.6%) amid the marginal profit growth of 4% recorded in June quarter.