Colombo bourse concluded the three-day trading week on a high note amidst the renewed optimism seen amongst local investors on certain index heavy stocks.
However, the market on yesterday showcased mixed signals whilst the All Share Price Index increased by 68.4 points (+0.9%) to close at 8,136.8 although the S&P SL20 Index marginally dropped by2.8 points (-2.8%) to close the day at 3,092.3. LOLC Development Finance, LOLC Holdings, Expolanka Holdings, CT Holdings and Hayley remained as the top positive contributors to the ASPI during the day.
Further, broader market’s total turnover stood at LKR5,666.8 mn against the 12-month average daily turnover of LKR 3,195.4 mn, whilst the volume traded for the day was 285,794.5k against the 12-month average daily volume of 181,106.1k.Transportation, Capital Goods and Diversified Financials were the main sectors that contributed to the daily turnover.
The top traded counters for yesterday were Expolanka Holdings LKR 1,253.2 mn (+3.2%), Royal Ceramics LKR 521.0 mn (+2.4%), Dipped Products LKR 507.7 mn (+1.5%), Lanka Milk Foods LKR 442.2 mn (+2.7%) and Hayleys LKR 437.7 mn (+1.8%).
Foreigners were net sellers yesterday recording an outflow of LKR 542.9 mn during the day.
Foreign purchases stood at LKR 30.6 mn which were approximately witnessed in Commercial Bank, Sampath Bank, Expolanka Holdings and LOLC Holdings whilst total foreign sales amounted to LKR 573.5 mn, assumed to be seen in Lanka Milk Foods, LB Finance, Dipped Products and Dialog Axiata. Further, off-board transactions were witnessed in Lanka Milk Foods, Expolanka Holdings, Ambeon Holdings and Alumex yesterday.
Additionally, Hotel Sigiriya, C.W. Mackie, Expolanka Holdings, Bogala Graphite and Malwatte Valley Plantations touched their 52-week high prices whilst HNB Assurance and Prime Land Residencies witnessed the 52-week low price points yesterday.
Further, SMB Leasing (Voting & Non-Voting), Expolanka Holdings and Browns Investments remained as the most actively traded stocks yesterday.
Furthermore, interim results of Ceylon Cold Stores were released yesterday where the profits for 1QFY22 increased by more than 132% YoY to LKR 111.2 mn.
Meanwhile, Swadeshi Industrial Works announced a first and final dividend of LKR 1.0 for the financial year 2021. In addition, Laugfs Gas disclosed that the company would temporarily suspend its LGP importation operations given no actions being taken by the regulators to increase the local retail gas prices despite the surging global LGP prices.
Meanwhile, Sri Lanka’s debt office is anticipating rising up to USD 110 mn in bonds of up to 5-years in an auction which will close on July 27. The auction Sri Lanka Development bonds will be for USD 30 mn and could be upsized by another USD80 mn. Bids could be made for 9-months, 1-year 8-months, 2-year 9-months and 5 years.
(Courtesy: Softlogic Stock Brokers)
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