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Monday
Colombo bourse continued the winning streak for the third day and closed the session with gains on a critical day for domestic politics. Accepting nominations for the August general election was closed today and major political parties handed over the much debated nominations lists to the election commissioner.
In today’s trading session ASI crossed 7,000 mark after five days and closed at 7,002.78 with a gain of 18.66 points (+0.3%) while S&P SL 20 index gained 11.17 points (+0.3%) to close at 3,916.44. Daily market turnover was LKR 531mn.

Tuesday
Bourse expanded the optimistic momentum for the fourth consecutive day in a thin trading session, amid slight direction in politics after the conclusion of nominations for the mid-August general election. Main index gained 24.22 index points or 0.35% to close at 7,027.00 while S&P SL20 index bagged 3.84 index points (+0.10%) to end at 3,920.28.

Mirroring the lackluster trading, daily market turnover recorded one month low of LKR 367mn while market volume declined to 3 month low of 11mn shares.

Wednesday
Colombo Bourse extended the winning streak to a fifth session on Wednesday despite the increase in short-term treasury yields at the weekly Auction. Yields on short-term gilts inclined for the third consecutive week where 3M & 6M yields moved up by 8bps and 5bps to 6.22% and 6.31% while 12M yield advanced by 3bps to 6.31%.

Main index advanced by 39.19 index points (+0.56%) to end at 7,066.19 while 20-scrip S&P index bagged 37.38 index points or 0.95% to close at 3,957.66. Market Capitalization clinched backed to LKR 3 trillion mark supported by the gains in last five session where ASI increased by 142.40 index points (+2.0%). Daily market turnover was LKR 834mn.

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

Meanwhile Bimputh Finance released their June quarter results today with a significant profit of LKR 135mn, +>100%YoY against the comparative year profit of LKR 11mn. Subsequent to the positive earnings the counter advanced today to LKR 60.00, but closed at LKR 59.50, +10.6%.

Foreign investors were net sellers for the second consecutive session with a net outflow of LKR 110mn. Foreign participation was 55%. Net foreign outflows were seen Hatton National Bank (91mn), Seylan Bank (LKR 71mn) and Lanka Century Investment (LKR 60mn) while net foreign inflow was mainly seen in Sampath Bank (LKR 99mn).

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