Colombo stock witnessed positive returns on Wednesday amid the continued drop in T-bill yields for the tenth consecutive week. During the opening hours, bourse crossed 7,296 mark but failed to maintain the positive momentum where main index gained 23.57 index points or 0.32% to close at 7,289.77. 20-scrip S&P SL index bagged 26.69 index points (0.66%) to end at 4,073.52.
Price appreciations in John Keells Holdings (closed at LKR 204.90, +1.7%), Carson Cumberbatch (closed at LKR 415.00, +3.2%), LB Finance (closed at LKR 199.00, +7.1%) contributed positively to the index performance.
Daily market turnover was LKR 2.1bn. Commercial Credit & Finance topped the turnover list with LKR 408mn underpinned by a single crossing of 4.0mn shares at LKR 75.00. Ceylinco Insurance non-voting and Commercial Bank were next best contributors to the turnover with LKR 237mn and LKR 210mn respectively.
Several crossings were recorded in Commercial Bank (1.1mn shares at LKR 169.00-169.10), National Development Bank (0.6mn shares at LKR 272.00-275.00), Ceylinco Insurance non-voting (0.2mn shares at LKR 670.00), Sampath Bank (0.2mn shares at LKR 265.00) and Hatton National Bank non-voting (0.3mn shares at LKR 181.00). Aggregate value of crossings represented 42% of the total turnover.
Out of 264 counters, 135 advanced, 80 slipped while 49 counters remained unchanged. Cash map marginally increased to 59% from 52%. 22 counters managed to reach 52wk high prices while 6 counters touched 52wk low price levels.
Commercial Credit & Finance, Sanasa Development Bank and Abans Finance attracted heavy investor preference during the session. All three counters reached 52wk high prices of LKR 70.00, LKR 155.80 and LKR 37.50 respectively.
Subsequent to the announcement of sub division of ordinary shares of LB Finance, stock reached to a 52wk high price of LKR 208.50. Proposed sub-division to increase number of ordinary shares by the division of 01 existing ordinary share into 02 ordinary shares.
Most of the banks & finance sector counters such as Seylan Bank (voting & non-voting), National Development Bank, Softlogic Finance, Bimputh Finance, Vallibel Finance reached 52wk high price levels.
Following to the dividend announcement of Talawakelle Tea Estates, stock touched 52wk high price of LKR 44.00 but closed lower at LKR 39.50 (+7.9%).
National Development Bank and DFCC Vardhana Bank announced that the companies have received CSE approval for the debentures issues of LKR 10bn and LKR 5bn respectively.
Foreign investors were net sellers with a marginal net foreign outflow of LKR 0.2mn. Foreign participation was 21%. Net foreign outflows were seen in National Development Bank (LKR 74mn), Royal Ceramic Lanka (LKR 15mn), Lanka Century Investments (LKR 13mn) while net foreign inflow was mainly seen in Hatton National Bank non-voting (LKR 51mn).
Meanwhile at today’s Treasury bill auction, T-Bill yields further dropped where 6M yield declined by 3bps to 6.19% and 3M yield declined by 2bps to 6.08% while 12M yield unvaried at 6.31%. CBSL offered LKR 20bn worth of Treasury bills today and the auction was oversubscribed by 3.2 times with bids received amounting to LKR 63.9bn. It was decided to accept LKR 28.3bn.
Colombo stock witnessed positive
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Lanka Stocks
