Trade Summary Market - 14/08/2013

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Colombo shares further gained and closed with positive returns for the consecutive day, supported by price appreciations in primary blue chip stocks such as Nestle (LKR 2,449.50,+8.6%), Ceylon Tobacco (LKR 1,250.00, + 4.2%) and Carson Cumberbatch (LKR 405.00, +3.6%).

All share price index gained 65.80 points (+1.07%) to close at 6,208.67 and S&P SL 20 index increased by 30.87 points (+0.89%) to close at 3,484.10. Only two stocks namely Nestle and Ceylon Tobacco managed to close at its 52 week high prices while 41 stocks closed with 52 week low prices.

Market turnover was LKR 1.9bn. Almost 81% of the daily turnover was contributed by off-the-floor deals. Four crossings were recorded during today’s session where aprox. 6.0mn shares of Hatton National Bank non-voting (at LKR 115.00), 2.7mn shares of Aitken Spence (at LKR 124.00), 1.8mn shares of Sampath Bank (at LKR 196.00) and 0.8mn shares of John Keells Holdings (at LKR 260.00) changed hands in off-the-floor deals.

Hatton National Bank non-voting with LKR 704mn, Aitken Spence with LKR 369mn and Sampath bank with LKR 356mn emerged as top contributors to the market turnover. PC House, Textured Jersey and Expo Lanka were heavily traded stocks for the day and PC House dropped to a fresh 52 week low price to close at LKR 0.70 (-12.50%).

Foreign investors were net buyers with a net inflow of LKR 858mn. Foreign participation was 57% of the market activity. Foreign net inflows were seen in counters such as Hatton National Bank non-voting (LKR 642mn), Sampath Bank (LKR 353mn) and Commercial Bank (LKR 35mn) while foreign net outflows were seen in John Keells Holdings (LKR 218mn).

Cash Map closed at 66%.

Indices gain sharply supported by Nestle and CTC

Block Trades totaling over Rs.1.5 billion drove the Colombo bourse yesterday to post a turnover topping Rs.1.9 billion, up from the previous day’s Rs.403 million, with the All Share Price Index gaining a tidy 65.80 points (1.07%) while S&P SL20 was up 30.87 points (0.89%) with 105 losers outpacing 92 gainers while 53 counters closed flat.

Foreign purchases amounted to Rs. 1,537.93 million leading to a net inflow of Rs. 857.56 million.

The crossings were in HNB (non-voting) where nearly 6 million shares were crossed in four parcels at a price of Rs.115 in deals worth Rs.686.2 million, Aitken Spence where two parcels of nearly 2.7 million were crossed at Rs.124 contributing Rs.333.1 million, Sampath where 1.8 million shares were crossed in four parcels at Rs.196 generating Rs.352.8 million and JKH where nearly 0.8 million shares were crossed at Rs.260 contributing Rs.197.9 million to the day’s business volume.

"The ASPI rose sharply during the latter hours of trading, reaching a 37 trading day high at market close, amid strong gains in large cap diversified and consumer stocks. Turnover neared Rs. 2bn supported by multiple block trades on HNB.X, SPEN, SAMP, and JKH, which collectively accounted for 80% of the day’s turnover," John Keells Stockbrokers said.

Brokers said that very sharp gains in both Nestle, up Rs.194 to close at Rs.2,449.50 and Ceylon Tobacco up Rs.49.90 to close at Rs.1,250, drove the indices although the volume of Nestle traded was 10,130 and CTC 15,586.

Both counters were on the most traded list with Nestle contributing Rs.23.4 million to turnover and CTC Rs.19.3 million.

JKH led the pack in floor trades closing Re.1 up at Rs.261 on nearly 0.2 million shares done between Rs.260 and Rs.262 contributing Rs.47.3 million to the day’s turnover.

Commercial Bank (voting) followed closing 90 cents up at Rs.120 on nearly 0.4 million shares done between Rs.118.20 and Rs.120.40 generating a turnover of Rs.46.3 million.

Aitken Spence was number three among the most traded stocks closing Rs.2.20 up at Rs.124 on nearly 0.3 million shares done between Rs.122 and Rs.124 contributing Rs.335.7 million to turnover.

Retail interest was focused on Access, Textured Jersey and Expolanka with Access seeing over 0.2 million shares traded at an average price of Rs.21.90, Textured Jersey over 0.3 million shares at an average price of Rs.14 and Expolanka where there was both retail and institutional interest with 2.4 million shares done at an average price of Rs.7.05.

Expolanka closed 30 cents up at Rs.7.20 generating a turnover of Rs.17.1 million.

Among banking stocks HNB (voting) was down 50 cents to Rs.154 on nearly 0.2 million shares, HNB (non-voting) up Rs.1.10 to Rs.115 on nearly 0.2 million shares and Commercial Bank (voting) up 90 cents to Rs.120 on nearly 0.4 million shares.

On’ally Holdings announced a first and final dividend of Rs.1.50 for 2012/13, XD from Aug. 23 with payment on Sept. 3 while Hayleys Fibre (previously Hayleys Exports) an interim dividend of 30 cents per share for 2012/13 XD from Aug. 23 and with payment on Sept. 3.

HVA Foods announced a first and final dividend of 20 cents per share for 2012/13 after shareholder approval at a Sept. 18 AGM with the counter trading XD from Sept. 20 and with payment on Sept. 30. Lanka Ashok Leyland announced a first and final dividend of Rs.10 per share for 2012/13 following shareholder approval at a Sept. 20 AGM. The counter will trade XD from Sept. 23 and with payment on Sept. 27.
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