Colombo equity market started weekly operations on positive note where both counters witnessed marginal returns. Bourse swung between gains and losses on Monday where main index touched 7,209 mark in the opening hours. All share index managed to gain 1.16 index points or 0.02% to end at 7,213.63 while 20-scrip S&P SL index advanced by 2.42 index points (+0.06%) to close at 4,061.04. Daily market turnover was LKR 587mn.
Colombo bourse closed on positive note on Tuesday amid positive earnings and dividend announcements. The main index notably advanced by 44.98 points or 0.62% to record a nearly 10 week high of 7,258.61 while S&P SL 20 index record a nearly one month high of 4,073.56 with a gain of 12.52 points (+0.31%).Daily market turnover crossed the LKR 1bn mark to record LKR 1.1bn without negotiated deals.
Colombo stock market witnessed negative returns on Wednesday despite the continued drop in T-bill yields for the ninth consecutive week. During the opening hours, bourse crossed 7,271 mark but failed to maintain the positive momentum gained in previous session. Main index shed 13.56 index points or 0.19% to close at 7,245.05 while 20-scrip S&P SL index declined by 0.31% (12.71 index points) to end at 4,060.85. Daily market turnover was LKR 1.2bn.
Colombo shares ended the activities on negative note on Thursday for the second consecutive session amid political uncertainty on investor sentiments and profit taking. However the market turnover recorded an 8-month high of LKR 5.3bn driven by hefty crossings recorded in Ceylinco Insurance during the session. Benchmark All Share Price index slipped 8.18 index points or -0.11% to end at 7,236.87 while S&P SL 20 index lost 17.25 points (-0.42%) to end at 4,043.60.
The losses were mainly contributed by the price depreciations in counters such as Distilleries (closed at LKR 283.00, -2.4%), Bukit Darah (closed at LKR 675.00, -2.2%) and John Keells Holdings (closed at LKR 200.00, -0.7%). Further price decline in Sri Lanka Telecom was also negatively affected to the market performance where the counter declined to closed at LKR 46.50, -2.1% on its XD date.
Losers surpassed the gainers 105 to 100 while 52 remained as the same. Cash map declined to 45% from 53%. 18 counters touched 52wk high prices while only Anilana Hotels & Properties, Reef Warrant 0019 and Expolanka recorded 52wk low prices.
Moreover, Sanasa Development Bank, John Keells Holding and Commercial Credit & Finance traded heavily during the session. In addition Panasian Power attracted heavy investor preference subsequent to the yesterday’s final dividend announcement of LKR 0.30 per share. Both Panasian Power and Sanasa Development Bank recorded 52wk high prices of LKR 4.00, +5.3% and LKR 136.60, +6.9% respectively.
Meanwhile several finance sector counters such as Softlogic Finance (LKR 53.00), Singer Finance (LKR 23.20), Vallibel Finance (LKR 58.20), Lanka Orix Finance (LKR 4.60) and LB Finance (LKR 185.00) touched 52wk high prices.
Foreign investors were net buyers with a net foreign inflow of LKR 2.7bn for the second consecutive day. Foreign participation was 35%.