Lanka Securities Market Round up 10 September 2015

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Lanka Securities Market Round up 10 September 2015

Post  Melissa Pereira on Mon Sep 14, 2015 10:09 am

Colombo equities recorded negative returns on Thursday as the index failed to continue the positive momentum gained on the previous session. Concerns on the exchange rates, interest rates and peer market fluctuations drove the investor sentiment down.

Benchmark index shed 23.31 index points (-0.32%) to end at 7,159.94 while 20-scrip S&P SL index declined by 12.41 index points (-0.32%) to close at 3,924.67.

Declines in telecommunication segment stocks, such as Dialog Axiata (closed at LKR 11.30, - 1.7%) and Sri Lanka Telecom (closed at LKR 47.00, -1.3%) clipped the index performance.

Further, dips in Lion Brewery (closed at LKR 630.40, -3.0%), Ceylon Cold Stores (closed at LKR 370.10, -2.4%) and People’s Leasing (closed at LKR 24.00, -2.0%) impacted the index performance.

Daily market turnover reached LKR 589mn boosted by two crossings recorded in Dialog Axiata. 10mn shares of Dialog Axiata changed hands at LKR 11.20 and counter topped the turnover list with LKR 112mn. Distilleries (LKR 93mn), Ceylon Grain Elevators (LKR 42mn)
and Kalamazoo Systems (LKR 37mn) were next best contributors to the turnover.

Further, several crossings were recorded in Tokyo Cement (0.5mn shares at LKR 52.00), Tokyo Cement non-voting (0.5mn shares at LKR 41.50) and Distilleries (0.3mn shares at LKR 280.00). Aggregate value of crossings represented 43% of the total turnover.

Reflecting the negative investor sentiment, out of 240 counters, 113 declined, 79 advanced and 48 remained unchanged. Cash map declined from 53% to 41%. 17 counters touched 52wk low price levels.

John Keells Holdings warrant 0022 continued witness heavy trades where in the opening hours, counter advanced to LKR 13.30 but close below at LKR 11.50 (-6.5%). Ceylon Grain Elevators, Hayleys and Sanasa Development Bank were among active trading counters.

Most of the high cap banks such as National Development Bank, DFCC Bank, Commercial Bank, Sampath Bank and Sanasa Development Bank posted negative returns for the day.

Foreign investors were net sellers with a net outflow of LKR 17mn. Foreign participation was 31%. Net foreign outflows were seen in Dialog Axiata (LKR 113mn), Aitken Spence (LKR 12mn), Kalamzoo Systems (LKR 8mn) while net foreign inflow was mainly seen in Distilleries (LKR 92mn).
Please refer the link for more details- http://www.lsl.lk/pdf/research/marketroundup.pdf

Melissa Pereira

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