by Sriranga Wed Nov 12, 2014 6:15 pm
Colombo stock market managed to maintain the momentum gained on last session where both indices witnessed notable returns. Core index bagged 56.69 index points or 0.76% to end at 7,469.41 while 20-scrip S&P SL index gained 16.59 index points (+0.40%) to close at 4,136.59. Price appreciations in counters such as Access Engineering (closed at LKR 37.40, +8.4%), People’s Leasing & Finance (closed at LKR 24.00, +5.7%) & Lanka IOC (closed at LKR 67.70, +6.0%) fueled the index performance.
Market witnessed the highest turnover for the month with LKR 2.7bn. People’s Leasing & Finance topped the turnover list with LKR 356mn underpinned by a single crossing of 2.2mn shares at LKR 23.00. Chevron Lubricants and Access Engineering were next best contributors to the turnover with LKR 242mn and LKR 208mn respectively.
Numerous crossings were recorded in Dialog Axiata (4.7mn shares at LKR 12.50), Citizen Development Business Finance (0.3mn shares at LKR 95.00), John Keells Hotels (1.1mn shares at LKR 17.80) and Chevron Lubricants (0.7mn shares at LKR 342.00). Aggregate value of crossings represented 14% of the turnover.
Access Engineering, People’s Leasing Finance and Lanka IOC continued to attract heavy investor preference during the day. All three counters reached 52wk high prices of LKR 37.40, LKR 24.30 respectively.
Out 274 counters, 158 advanced, 62 slipped and 54 remained unchanged. Cash map improved to 66% from 48%. 37 counters reached 52wk high prices while 6 counters touched 52wk low price levels.
Manufacturing counters such as Piramal Glass, Kelani Tyres and Dipped Products advanced during the day and reached 52wk high prices. Further all ceramic and tile stocks such as Dankotuwa Porcelain, Lanka Tiles, Lanka Walltiles and Royal Ceramic reached 52wk high price levels and closed at LKR 17.90 (+2.9%), LKR 116.00 (+1.3%), LKR 100.90 (+2.6%) & LKR 120.00 (+1.4%) respectively.
Subsequent to the announcement of the withdrawal of windup case by petitioner against Orient Garments, counter advanced by 24.8% during the day to close at LKR 20.10.
Most of the banking counters such as National Development Bank (LKR 252.00, +2.4%), DFCC Bank (LKR 230.00, +1.9%), Hatton National Bank (LKR 200.00, +1.4%), Sampath Bank (LKR 235.20, +0.4%) and Commercial Bank (LKR 174.10, +0.1%) advanced during the session.
Following the release of interim financial statements, both CIC voting and non-voting counters reached 52wk high price of LKR 93.00 & LKR 72.00 and closed at LKR 90.00 (+4.4%) & LKR 71.70 (+4.1%) respectively.
Foreign investors closed the day as net buyers for the fifth consecutive day with net inflow of LKR 188mn worth of equities. Foreign participation was 18%. Net foreign inflows were seen in People’s Leasing & Finance (LKR 194mn), Lanka IOC (LKR 33mn), John Keells Holdings (LKR 16mn) while net foreign outflows was mainly seen in Chevron Lubricants (LKR 124mn).
At today’s weekly primary T-bill auction, 12 month and 6 month yield remained unvaried at 6.00% & 5.84%. Auction was oversubscribed by 5.6 times while 3 month bills were not offered by CBSL.
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