The Colombo bourse started the month in a positive note yesterday with a spike of the share price of LOLC Holdings due to reporting impressive financial results for FY21. Then, ASPI witnessed a gradual pull back during mid-day and thereafter, resumed its upward momentum over the latter part of session to conclude the day in green territory with the local investor appetite.
Thus, the All Share Price Index increased by 45.7 points (+0.6%) to close at 7,449.1, while the S&P SL20 Index also increased by 28 points (+0.9%), surpassing the 3,000 barrier after six weeks, to close the day at 3,006.9. Moreover, LOLC Holdings, Ceylon Tobacco, Browns Investments, Commercial Bank and Cargills Ceylon remained as the top positive contributors to the ASPI during the day. Meanwhile, today’s total turnover stood at Rs2,910.8 mn (USD14,520.7k) vs. 12-month average daily turnover of Rs 3,047.2 mn (USD15,201.4k) whilst the volume traded for the day was 110,885.6k against the 12-month average daily volume of 170,656.5k. Diversified Financials, Capital Goods and Food and Beverage were the main sectors that contributed to the daily turnover.
Furthermore, top traded counters for the day were LOLC Holdings Rs 621.9 mn, Royal Ceramics Rs 290.7 mn, Dipped Products Rs 218.0 mn, Browns Investment Rs 211.2 mn and Lanka Walltile Rs 140.0 mn. Foreigners were net sellers recording an outflow of Rs 42.8 mn during the day. Foreign purchases stood at Rs 95.0 mn enticed by Hatton National Bank (Rs16.9 mn), Hatton National Bank (Non-Voting) (Rs13.9 mn) and Ceylon Cold Stores (Rs. 11.0 mn) whilst total foreign sales amounted to Rs137.8 mn, mainly seen in Hayleys (Rs 49.7 mn), John Keells Holdings (Rs 21.2 mn) and LB Finance (Rs20.1 mn). Off-board crossings were noticed in Commercial Bank and Royal Ceramics yesterday.
Mahaweli Coconut Plantation, Dialog Axiata, Laugfs Power (Voting & Non-Voting) and HNB Finance (Voting & Non-Voting) touched their 52-week high prices today whilst SMB Leasing reached its 52-week low price point. Further, Browns Investment, Raigam Wayamba Saltern, Royal Ceramics and Hayleys Fabric remained as the most actively traded stocks for the day.
LOLC Holdings (LOLC) net earnings reported yesterday was Rs 7.2 bn (vs. Rs1.5 bn) in 4QFY21 whilst Rs28 bn (vs. Rs11 bn) for FY21. ACL Cables (ACL) earnings increased by 171% YoY to Rs 423mn in 4QFY21 mainly driven by grid modernization of CEB. Cables segment profitability increased by Rs 339mn on a QoQ basis.
Further, Vallibel One (VONE) declared a final dividend of Rs1.0 for FY21 and United Motors (UML) announced a final dividend of Rs1.
Courtesy: Softlogic Finance
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