The Bourse Weekly Performance (Week ended June 13, 2014)

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http://www.sundayobserver.lk/2014/06/15/fin52.asp

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Colombo equities started a fresh week on Monday with positive returns after two consecutive days of losses. All share price index gained 7.89 points or 0.13% to end at 6,287.03 and S&P SL 20 index marginally gained 0.52 points or 0.01% to end at 3,479.69. Daily market turnover reached LKR 1.4bn with the support of several crossings recorded in John Keells Holdings, Ceylon Theatres and Aitken Spence. John Keells Holdings (LKR 759mn) emerged as the top contributor to the market turnover followed by Expolanka (LKR 91mn) and Ceylon Theatres (LKR 69mn). Foreign investors were net buyers with net inflow of LKR 925mn. Foreign participation was 40%.

Colombo bourse continued the momentum gained in previous session to close with positive returns. Benchmark All share price index gained 6.61 points (+0.11%) to end at 6,293.64 while S&P SL 20 index marginally gained 4.43 points (+0.13%) to end at 3,484.12. Market turnover was LKR 818mn. Distilleries (LKR 115mn) emerged as the top contributor to the market turnover followed by John Keells Holdings (LKR 104mn) and Ceylon Investment (LKR 80mn). Adams
Investments managed to attract heavy investor interest during its initial day of trading and closed higher at LKR 4.10, +37%. Foreign investors were net buyers with net inflow of LKR 5mn. Foreign participation was 31%.

Colombo shares witnessed lackluster trading session on Wednesday, as both indices closed with negative returns. Core index marginally dropped by 0.28 points (0.00%) to end at 6,293.36 while S&P SL 20 index dropped by 6.32 points (0.18%) to end at 3,477.80. Market turnover reached nearly three week high of LKR 1.41bn with the support of several negotiated deals recorded in John Keells Holdings, Commercial Bank and DFCC Bank. John Keells Holdings (LKR 769mn) topped the turnover list followed by Commercial Bank (LKR 98mn) and Distilleries (LKR 55mn). Foreign investors were net buyers with net inflow of LKR 263mn. Foreign participation was 55%. Aitken Spence made an announcement to CSE informing that Aitken Spence Hotel Managements South India Private Limited has purchased 143 roomed five start hotel in Chennai for a consideration of USD 25mn.

Colombo stock market was closed on Thursday due to public holiday.The Colombo bourse wrapped up the weekly operations on a positive note with benchmark indices gaining notably.

The All Share Price Index gained 43.86 points (+0.7%) to close at 6,337.22 while S&P SL 20 index gained 28.45 points (+0.8%) to close at 3,505.03. The index performance was supported by price appreciations in index heavy counters such as Sri Lanka Telecom (closed at LKR 48.00, +1.10%), Bukit Darah (closed at LKR 650.00, +2.9%) and Lanka Orix Leasing (closed at LKR 90.90, +4.1%).

The cash map improved to 69% from 57%. Gainers outweighed losers 162 to 59, while 53 counters remained unchanged.

The daily market turnover was LKR 809mn. The premier blue-chips John Keells Holdings and Commercial Bank topped the turnover list with a turnover of LKR 161mn and 121mn respectively.

Both these counters witnessed crossings where 0.46mn shares of JKH changed hands at LKR 234.50 while 0.43mn shares of Commercial Bank changed hands at LKR 132.00. The crossings accounted for 20% of the market turnover. JKH closed at LKR 234.40 (-0.04%) while Commercial Bank closed at LKR 134.00 (+1.52%). Further, Hemas Holdings (LKR 34mn), Sampath Bank (LKR 33mn) and Hatton National Bank – nonvoting (LKR 30mn) made notable contribution to the turnover.

Subsequent to the rights issue announcement, (4 new shares for every 11 existing shares held at LKR 9.50 per share), Hayleys MGT share price declined 17.3% to LKR 11.00. The share was traded heavily along with shares of Blue Diamond and Laxapana Batteries.

Foreign investors were net buyers of LKR 176mn worth of shares. Net foreign inflows were seen in counters such as John Keells Holdings (LKR 112mn), Sampath Bank (LKR 19mn), Chevron Lubricants (LKR 19mn) and net foreign outflows were seen in counters such as Ceylon Guardian (LKR 14mn) and Dialog Axiata (LKR 3mn). The foreign participation accounted for 32% of the market activity.
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