Change in ownership of Lanka Ceramic was the highlight of the Monday’s activities. The counter gained a maximum 50%. The capital gain of the selling party, CT Holdings amounts to ~Rs. 2.0bn. Royal Ceramic was the buying party to the transaction (76.1% stake of the Lanka Ceramic). The market gained helped by blue chips. ASI gained 107.99 points (1.80%) to close at 6,121.17 and the S&P SL20 index gained 55.13 points (1.62%) to close at 3,461.12. Turnover was Rs. 4.1Bn. Top contributors to turnover were Lanka Ceramic with Rs. 3.2Bn, Royal Ceramics 65.2Mn and John Keells Holdings with Rs. 42.5Mn. Most active counters for the day were Vallibel One, nation Lanka Finance and Lanka Ceramics.
Colombo Bourse surpassed 6,200 levels on Tuesday with high volumes. All Share Index advanced by 80.51 index points (1.32%) to close at 6,201.68 and S&P SL 20 Index advanced by 50.83 index points (1.47%) to close at 3,511.95. Daily market turnover was LKR 1.4bn. Top contributors to the turnover were Vallibel One with LKR 127.0mn, Seylan Bank non-voting with LKR 100.0mn and Commercial Bank with LKR 99.9mn. Seylan Bank non-voting made a single crossing of 0.89mn shares at a price of LKR 40.00 per share. Vallibel One, Colombo Land & Development and Textured Jersey were the heavily traded stocks during the day.
Market maintained the positive momentum on Wednesday. ASI gained 8.42 points (0.14%) to close at 6,210.10 and the S&P SL20 index gained 9.35 points (0.27%) to close at 3,521.30. Turnover was Rs. 1,465.4Mn. Top contributors to turnover were Commercial Bank with Rs. 371.6Mn, Vallibel One with Rs. 114.0Mn and John Keells Holdings with Rs. 105.1Mn. Most active counters for the day were Vallibel One, Pan Asia Bank and Capital Alliance Finance.
Colombo Bourse closed higher on Thursday for the sixth day in a row. ASI gained 28.61 points (+0.5%) to close at 6,238.71. S&P SL 20 index closed at 3,526.51 with gain of 5.21 points (+0.2%). Investors’ renewed hopes for a rate cut drove the activity levels across the board and the market turnover reached Rs. 2.1bn.Commercial Bank (Rs.416.5mn), Distilleries (Rs.315.4mn) and HNB (RS.207.7mn) were the top contributors to the turnover. Touchwood Investments, Capital Alliance Finance, East West Properties, Vallibel One and Dankotuwa Porcelain were among the heavily traded counters.
Retail play was shaky on Friday as most investors were booking profits whilst some were taking new positions to further benefit from the prevailing positive sentiment. ASI reached an intra-day high of 6,290.02 and closed at 6,250.00 (+11.29 points – 0.2%). S&P SL 20 Index gained 4.39 points (0.1%) to close at 3,530.90. The market turnover was Rs.1.5bn.
Top contributors to turnover were Distilleries (Rs.389mn), Commercial Bank (Rs.143mn) and NDB (Rs.62mn). Most active counters for the day were East West Properties, Entrust Securities and Softlogic Holdings. Notable gainers for the day were JL Morisons (Rs.240.00,+31.9%), First Capital Holdings (Rs.16.10,+6.6%) and Dunamis Capital (Rs.13.20,+8.2%) while notable losers were Amaya Leisure (Rs.78.00,-5.9%) and Environmental resources – warrants 03 (Rs.1.70,-5.6%).
Cash map was 51%. Foreign participation was 23% of total market turnover with net foreign buying of Rs. 285mn.
http://www.nation.lk/edition/business/item/17734-weekly-market-focus.html