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Monday
Colombo equities swung between gains and losses in another choppy session on Monday and ended on negative note amid price declines in high cap counters. The market moved to the green territory in the morning, recording a gain of 12.51 index points but lost the momentum in the evening session. All share price index shed 44.07 points or 0.62% to end at a 7-week low of 7,078.66 while S&P SL 20 index shed 39.35 points (-0.99%) to end at 3,924.33. Daily market turnover was LKR 660mn.

Tuesday
Colombo bourse closed with negative returns for the second consecutive session amid the political uncertainties. Main index swung between gains and losses where index crossed 7,090 mark in the opening hours but failed to maintain the optimistic momentum. All Share index shed 11.55 index points (-0.16%) to end at LKR 7,067.11 while 20-scrip S&P SL20 index declined by 8.48 index points or 0.22% to close at 3,915.85. Daily market turnover recorded a 3-month low of LKR 329mn.

Wednesday
Colombo bourse ended modestly lower on Wednesday as investors practice the wait and watch approach amid the unsettled political situation and profit taking. There was a little sideway force in the market as the market opened with positive returns but closed in the negative zone. All share price index marginally declined to 7,063.45 with a drop of 3.66 index points or -0.05% while S&P SL 20 index slightly lost 1.44 points (-0.04%) to end at 3,914.41. Daily market turnover was LKR 364mn.

Thursday
Colombo stock market continued the losing streak where bourse witnessed negative returns for the fourth consecutive day to touch 11 week low. During the opening hours, main index managed to cross the 7,080 mark but failed to maintain the momentum, reflecting the negative investor sentiment stemming mainly from the political uncertainties.

All share index declined by 11.93 index points (-0.17%) to end at 7,051.52 while S&P SL20 index shed 8.39 index points or 0.21% to close at 3,906.02.

Price declines in heavy cap counters such as Nestle Lanka (closed at LKR 2,110.30, -1.4%), Ceylinco Insurance (closed at LKR 1,590.00, -0.6%) and Hayleys (closed at LKR 330.00, -5.7%) affected negatively to the index performance.

Daily market turnover was LKR 836mn. Sampath Bank topped the turnover list with LKR 198mn underpinned by a single crossing of 0.1mn shares at LKR 255.00. John Keells Holdings, Laugfs Gas voting and non-voting were next contributors with LKR 80mn, LKR 54mn and LKR 53mn respectively.

A single crossing was recorded in John Keells Holdings (0.2mn shares at LKR 190.00) and aggregate value of crossings represented 7% of the total turnover.

Out of 253 counters, 100 slipped, 92 advanced while 61 remained unchanged. Cash map sharply declined to 48% from 58%. 12 counters touched 52wk low prices while only Alufab (LKR 58.50) and Hunters & Company (LKR 450.00) reached 52wk high price levels.

Heavy investor activity was seen in Sinhaputhra Finance preference shares, Ceylon & Foreign Trades and Access Engineering counters. Sinhaputhra Finance preference shares advanced to LKR 13.00 but closed lower at LKR 11.80 (-1.7%).

Further, York Arcade Holdings and Commercial Credit & Finance declared final dividends of LKR 0.20 & LKR 1.00 per share respectively. Despite the dividend announcement, Commercial Credit & Finance declined by 2.0% to LKR 63.50.

Debenture issue of Singer Finance which was opened today, was oversubscribed and the issue was closed today.

Foreign investors were net sellers with a net outflow of LKR 69mn. Foreign participation was 21%. Net foreign outflows were seen in Laugfs Gas non-voting (LKR 53mn), National Development Bank (LKR 39mn), Chevron Lubricants (LKR 22mn) while net foreign inflow was mainly seen in Laugfs Gas (LKR 54mn).

Meanwhile, EAP Broadcasting Company announced that the company has taken steps to obtain another credit rating as directed by the SEC for the proposed debenture issue of LKR 3bn.

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