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Stock Market Review – 07th Nov 2014

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1Stock Market Review – 07th Nov 2014 Empty Stock Market Review – 07th Nov 2014 Sat Nov 08, 2014 5:50 pm

kuma524

kuma524
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Colombo shares concluded in positive territory on Friday as core index notably advanced by 57.69 points or 0.78% to close at 7,416.15 while 20-script S&P SL 20 index gained 26.19 points or 0.64% to close at 4,128.30. The gains were mainly driven by price appreciations in counters such as Ceylon Tobacco (closed at LKR 1,150.00, +1.8%), John Keells Holdings (closed at LKR 257.70, +1.1%) and Dialog Axiata (closed at LKR 12.50, +2.5%).

Daily market turnover was LKR 2.5bn. John Keells Holdings topped the turnover list with LKR 428mn followed by Dialog Axiata (LKR 263mn) and Lanka IOC (LKR 177mn). Several crossings were recorded in John Keells Holdings (0.4mn shares at LKR 258.00 per share), CIC (0.2mn shares at LKR 87.00 per share) and Dialog Axiata (19.1mn shares at LKR 12.50 per share). Aggregate value of crossings represented 16% of the total market turnover.

Further positive movement in sectors such as Trading (+5%), Construction & Engineering (+4%) and Power & Energy (+4%) affected favorably to the index movement.

Out of 268 counters traded 136 advanced, 80 declined and 52 counters remained unchanged. Cash map inclined to 67% from 59%. 26 counters reached 52wk high price levels and 05 counters touched 52wk low price levels.

Shares of Lanka IOC attracted heavy investor interest during the week with the decreasing crude oil prices in the world market. Counter closed at LKR 63.40, +7.1%. Lanka IOC also emerged as the top gainer of the week with an increase of 23%.

Further, Access Engineering, Softlogic Holdings and Renuka Foods were among mostly traded counters of the day.

Foreign investors were net buyers with a net inflow of LKR 739mn worth of equities. Foreign participation was 26%. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 332mn), Dialog Axiata (LKR 240mn), Hemas Holdings (LKR 37mn) while net foreign outflows were seen in John Keells Holdings warrant 0022 (LKR 9mn).

Additionally, foreign investors were also net buyers for the week with a net foreign inflow of LKR 795mn while foreign participation was 26%. Net foreign inflow was mainly seen in John Keells Holdings (LKR 892mn) whereas net foreign outflow was mainly seen in Vallibel Power (LKR 1.1bn). Accordingly year to date net foreign inflow stood at LKR 15.6bn.

Vallible Power Erathna announced that Dr. T Senthilverl purchased a total of 106mn shares on 4th November 2014. Subsequent to the purchase Dr. Senthilverl’s shareholding in Vallible Power Erathna increased to 109mn shares or 14.4% of the issued share capital.

Further, Royal Ceramics Lanka (LKR 1.00 per share), Lanka Tiles (LKR 2.00 per share), Lanka Walltiles (LKR 2.00 per share) and Printcare (LKR 0.45 per share) declared interim dividends during the session while Ceylon Tobacco Company declared their third interim dividend of LKR 11.10 per share.

Lanka Securities Research

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