Despite the initial negativity, the broader market revived during the latter part of the trading session where the ASPI increased by 12.9 points (+0.2%) to close at 7,233.6, while the S&P SL20 Index also increased marginally by 0.3 points (+0.0%) to close the day at 2,900.6.
Moreover, Ceylon Tobacco, LOLC Holdings, Browns Investments, Royal Ceramics and Lanka Walltiles remained as the top positive contributors to the ASPI during the day. Meanwhile, yesterday’s total turnover stood at LKR1,325.9 mn vs. 12-month average daily turnover of LKR3,028.2 mn whilst the volume traded for the day was 101,034.2k against the 12-month average daily volume of 170,091.2k. Capital Goods, Food and Beverage and Materials were the main sectors that contributed to the daily turnover.
Furthermore, top traded counters for the day were Browns Investments LKR249.5 mn, Royal Ceramics LKR. 121.6 mn, Lanka Walltiles LKR76.1 mn, Expolanka Holdings LKR70.4 and Dipped Products LKR69.4 mn.
Foreigners were net sellers recording an outflow of LKR51.3 mn during the day. Foreign purchases stood at LKR55.7 mn (USD27.8k) enticed by Sampath Bank (LKR16.8 mn), Commercial Bank (LKR8.7 mn) and Cargills Ceylon (LKR2.3 mn) whilst total foreign sales amounted to LKR107.1 mn,mainly seen in Dialog Axiata (LKR51.4 mn), John Keells Holdings (LKR9.4 mn) and Renuka Capital (LKR8.8 mn).
Alliance Insurance, Mahaweli Coconut Plantation and Bogala Graphite touched their 52-week high prices today whilst HNB Assurance and Nations Trust Bank (Non-Voting) reached their 52-week low price points. Further, Browns Investments, Renuka Capital and SMB Leasing remained as the most actively traded stocks for the day. Meanwhile, John Keells Holdings (JKH) reported net profit of LKR4.8 bn in 4QFY21 (Vs. LKR3.7 bn) also announced a final dividend of LKR0.50.
However, Trans Asia and Asian Hotels & Properties reported losses in 4QFY21 due to tourism being one of the hardest hit sectors in the pandemic. Aitken Spence (SPEN) released 4QFY21 results of their companies, where Aitken Spence made a profit of LKR1 bn, Aitken Spence Hotel Holdings reported a loss of LKR 372.1 mn and Browns Beach Hotel made a loss of LKR138 mn. Additionally, Aitken Spence declared a first and final dividend of LKR1.00 today.
On the economic front, headline NCPI inflation increased to 5.5% YoY in April 2021 from 5.1% in March 2021. This was mainly due to the statistical effect of the low base prevailing in April 2020.
Complied by Softlogic Stock Brokers)
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