The Bourse Weekly Performance (Week ended March 28, 2014)
Weekly Market Focus By Lanka Securities Research
Share Market managed to end positively on Tuesday as both indices closed higher. Bench mark all share price index advanced by 30.55 points (+0.52%) to close at 5,952.78 and 20-scrip S&P SL index advanced by 9.58 points (+0.30%) to close at 3,256.49. Market turnover recorded as LKR 416mn. John Keells Holdings (LKR 145mn) emerged as the top contributor to the market turnover followed by Chevron Lubricants (LKR 37mn) and Distilleries (LKR 26mn). Further, Richard Pieris declared a second interim dividend of LKR 0.20 per share yesterday and the counter closed at LKR 6.60 with no change. Foreign investors were net sellers with a net outflow of LKR 32mn. Foreign participation was 49%.
Colombo shares concluded with mixed results on Wednesday where main share index marginally declined despite relatively active trading session. All Share Price Index dropped 1.81 index points (-0.03%) to close at 5,950.97 while 20-scrip S&P SL index gained marginally by 4.56 index points (+0.14%) to close at 3,261.05. Daily market turnover was LKR 762mn John Keells Holdings (LKR 246mn) emerged as the top contributor to the market turnover. Further Ceylon Tobacco (LKR 117mn) and Aitken Spence (LKR 72mn) made the next best contributions to the daily turnover. Meanwhile in today’s T-bill auction, 3-month and 6-month treasury yields eased marginally while the 12-month yield was unchanged at 7.05%. The 3-month and 6-month rates dropped to 6.65% and 6.82% respectively. Foreign participation for the day was 53% of the total market activity and foreign investors were net sellers of LKR 41mn worth of shares.
Colombo Bourse managed to regain lost ground on Thursday, with comparatively active trading session. Bench mark All share price index gained 41.65 points (+ 0.7%) to closed at a five week high of 5,992.62 and S&P SL 20 index gained 13.10 points (+0.4%) to closed at 3,274.15. Daily market turnover reached nearly six week high of LKR 1.6bn underpinned by negotiated deals (6.9mn shares at LKR 180.00) recorded in National Development Bank. Accordingly, National Development Bank topped the turnover list (LKR 1.2bn) followed by John Keells Holdings (LKR 70mn) and Seylan Bank (LKR 33mn). Foreign investors were net buyers with a net inflow of LKR 40mn. Foreign participation was 6%. Moreover, shares of Bansei Resorts, which was listed by way of introduction, commenced trading on Thursday and closed at LKR 15.00, 168% above the reference price of LKR 5.60. Meanwhile, Waskaduwa Beach Resorts announced that the 150 room beach resort will be opened on 6th April 2014. The share closed at LKR 7.50,+2.7%.
Stock Market ended with mixed results on Friday where core index was unable to continue the momentum gained in previous day. All share price index dropped by 20.45 index points (-0.34%) to closed at 5,972.17 while 20 Scrip S&P SL20 index marginally gained 4.52 index points (-0.14%) to closed at 3,278.67. Price depreciation in high cap stocks such as Ceylon Tobacco (closed at LKR 1,031.20, -5.0%), Ceylinco Insurance (closed at LKR 1,321.00, -5.1%) & DFCC Bank (closed at LKR 143.00, -1.2%) adversely affected the market performance of the trading session.
Daily market turnover managed to reach seven week high of LKR 3.3bn with the support of bulk volumes recorded in premier blue-chip, John Keells Holdings. John Keells Holdings topped the turnover list with trades of over 12.5mn shares worth of LKR 2.8bn. The next best contributor, Janashakthi Insurance recorded a turnover of LKR 189mn with the support of three negotiation deals of 11.4mn shares at LKR 14.50.
Losers outweighed the gainers 110 to 69, while 65 counters remained unchanged. Cash map improved to 97% from 60%. 15 counters reached 52wk high prices and 4 counters touched 52wk low price levels.
Further Piramal Glass, George Steuart Finance, John Keells Holdings warrant 23 & 22 managed to attract heavy investor participation during the session.
Foreign Participation accounted for 45% while foreign investors were net sellers with a net outflow of LKR 2.8bn. Net outflows were seen in counters such as John Keels Holdings (LKR 2.8bn), John Keells warrants 22 (LKR 2mn) and Lanka IOC (LKR 1mn) while net inflows mainly seen in Commercial Bank (LKR 15mn).
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