27 May 2015
Colombo bourse concluded the session on a negative note on Tuesday amid profit taking in selected stocks. The positive momentum in the morning session faltered in the mid-day pulling the index down to 7,261.78, with a drop of 22.98 points (-0.3%) while the S&P SL 20 index lost 16.01 points (-0.4%) to close at 4,037.81.
The negative sentiment was reflected in the broad market where out of the 262 counters traded, the losers outweigh the gainers 126 to 86. 50 counters remained unchanged. The cash-map weakened from 53% to 44%. Seven counters touched 52 week low prices today while five counters touched 52 week high price levels. Price deprecations in blue-chips such as Carsons Cumberbatch (LKR 410.00,-6.8%), Nestle Lanka (LKR 2,228.00,-1.0%) and Distilleries (LKR 276.50, -1.3%) affected the index performances.
The market turnover improved to LKR 1.2bn. The premier banks, namely, Commercial Bank (LKR 348mn), Sampath Bank (LKR 106mn), Hatton National Bank (LKR 76mn) and Seylan Bank – nonvoting (LKR 60mn) made the top contributions to the turnover. These four counters collectively accounted for 50% of the market turnover.
Meanwhile, 2mn shares of Commercial Bank changed hands at LKR 165.00 per share in two off-the-floor deals while 373,145 shares of Sampath Bank was traded at LKR 265.00 per share in a single crossing. The crossings accounted for 36% of the market turnover.
FLC Hydro Power emerged as the star performer today as it touched a 52 week high of LKR 9.10 during the session subsequent to the announcement of the interim dividend of LKR 0.70 per share. The share closed at LKR 8.90, +20.3%.
Further Seylan Bank shares managed to maintain the positive momentum as the counters reached fresh 52 week high prices. Seylan Bank – voting share closed at LKR 119.50 (+1.4%) while non-voting share closed at LKR 80.00 (+3.8%).
Subsequent to the announcement of revaluation properties, United Motors share gained notable investor interest and the share touched a high of LKR 106.60 during the session but closed at LKR 105.00 (+3.1%). According to the announcement made, the company will recognize a reevaluation surplus of LKR 1.7bn (LKR 17.2 per share). Furthermore, the company announced a final dividend of LKR 4.00 per share yesterday.