Both ASPI and S&P SL20 closed in green due to price gains in counters such as Nestle Lanka, John Keells Holdings and Aitken Spence Hotel Holdings with turnover crossing Rs 488 Mn.
Colombo equities continued the positive momentum for the second consecutive session driven by buying pressure in heavy cap counters. Benchmark All share price index gained 14.31 points or +0.20% to end at 7,053.96 while S&P SL 20 index gained 25.77 (+0.66%) to end at 3,938.46. Daily market turnover was LKR 810mn.
Colombo stock market closed with flat returns on Wednesday shedding the early gains as investor sentiment continued to remain weak ahead of potential general election. During the opening hours, main index crossed 7,072 mark but failed to maintain the momentum, closed 0.13 index points (-0.00%) lower at 7,053.83. The 20-scrip S&P SL index shed 11.06 index points or 0.28% to end at 3,927.40. Daily market turnover was LKR 606mn.
Colombo shares ended in negative territory on Thursday continuing the bearish momentum. The main index started with positive returns but closed in the red zone recording a loss of 22.50 points or 0.32% to end at 7,031.33 while S&P SL 20 index lost 14.34 points (-0.37%) to end at 3,913.06.
Today’s losses were mainly driven by price declined in primary blue chip counters such as Nestle Lanka (closed at LKR 2,100.00, -2.3%), Lion Brewery (closed at LKR 620.00, -3.1%) and John Keells Holdings (closed at LKR 204.10, -0.9%).
Daily market turnover was LKR 628mn supported by several negotiated deals recorded in John Keells Holdings (0.2mn shares at LKR 204.50 per share), Commercial Bank (0.2mn shares at LKR 160.00 per share), Nestle Lanka (0.02mn shares at LKR 2,100.00 per share) and Hatton National Bank (0.1mn shares at LKR 218.00 per share). Total crossings accounted for 19% of the market turnover.
John Keells Holdings positioned at the top of the turnover list with LKR 112mn followed by Hatton National Bank (LKR 57mn), Commercial Bank (LKR 46mn) and Nestle Lanka (LKR 34mn).
Losers outweighed the gainers 109 to 83 while 60 counters remained unchanged. Cash map declined to 34% from 54%. 11 counters declined to 52wk low prices while only Kelani Cables (LKR 108.00) and East West Properties (LKR 17.50) recorded 52wk high prices.
Moreover shares of Regnis Lanka, JKH Warrant 0022, Anilana Hotels & Properties and FLC Hydro Power were among heavily traded counters of the session.
Foreign investors were net sellers for the second consecutive session with a net foreign outflow of LKR 166mn. Foreign participation was 25%. Net foreign outflows were seen in John Keells Holdings (LKR 95mn), Commercial Bank (LKR 34mn) and Chevron Lubricants (LKR 29mn) while net foreign inflow was mainly seen in Nestle Lanka (LKR 33mn).
• John Keells Holdings on Thursday announced that the Waterfront Properties (Pvt) Ltd, a subsidiary of JKH, has finalized the syndicated project development facility amounting to USD 395mn with Standard Chartered Bank and has concluded the debt financing requirement for the project.
• Singer Sri Lanka announced its intention to purchase shares held by Singer (Sri Lanka) B.V in Regnis (Lanka) & Singer Industries (Ceylon). Based on the independent valuations, the proposed purchase of shares would be LKR 110.00 per share and LKR 206.00 per share respectively. However subsequent to the announcement, all three counters declined where Regnis (Lanka) closed at LKR 130.20, -5.7%, Singer Industries (Ceylon) closed at LKR 199.00, -3.4% and Singer Sri Lanka closed at LKR 128.00, -1.4%.
• At Wednesday’s Treasury bill auction, yields of 3M, 6M and 12M remained unchanged at 6.08%, 6.18% and 6.28% respectively. CBSL offered LKR 22bn worth of Treasury bills today and the auction was oversubscribed by 2.1 times with bids received amounting to LKR 47bn. It was decided to accept LKR 15b