Categories: Business

LNP – Bourse continues positive momentum

Colombo bourse continued its positive momentum and to concluded in the green territory today amidst reporting impressive interim results in selected fundamentally sound stocks. ASPI increased by 18.4 points (+0.3%) to close at 7,161.8, while the S&P SL20 Index also increased by 7.0 points (+0.3%) to close at 2,850.4.

Total turnover stood at LKR1,593.8 mn (USD7,978.3k) vs. 12-month average daily turnover of LKR3,020.3 mn (USD15,118.7k) whilst the volume traded for the day was 94,617.0k against the 12-month average daily volume of 167,641.9k.

Net foreign outflow of LKR119.1 mn (USD59.6k) was seen during the day, where foreign purchases stood at LKR193.2 mn (USD96.7k), while foreign sales amounted to LKR312.3 mn (USD156.3k). Foreign buying was mainly witnessed in Cargills (Ceylon) (LKR57.4 mn), Melstarcorp (LKR41.7 mn) and Windforce (LKR18.7 mn) whilst foreign selling was observed in Commercial Bank (LKR136.1 mn), Ceylon Tobacco (LKR33.4 mn) and Dialog Axiata (LKR24.4 mn).

Top traded counters for the day were Royal Ceramics LKR290.7 mn (USD1,454.5k, +1.1%), Commercial Banks LKR141.8 mn (USD709.4k, 0.0%), Hayleys Fabric LKR123.6 mn (USD618.6k, -2.2%), Cargills (Ceylon) LKR117.0 mn (USD585.3k, +2.3%) Dialog Axiata LKR103.0 mn (USD515.0k, -0.8%).

Mahaweli Coconut Plantations, Windforce and Laugfs Power (Voting & Non-Voting) recorded 52-week high prices today whilst Ceylon Cold Stores, Renuka Foods, Bimputh Finance and Lankem Ceylon reached their 52-week low price points. Further SMB Leasing (Non-Voting), Browns Investments, SMB Leasing and Royal Ceramics were amongst the most actively traded counters today.

Interim results of Sampath Bank PLC (SAMP) was released where profits in 1Q2021 grew by +90.7% YoY to LKR5.1 bn was mainly due to drop in impairments and tax savings. Additionally, the local lube blender Chevron Lubricants (LLUB) recorded a net earnings growth of +198% YoY to LKR1.5 bn in 1Q2021 mainly backed by a surge in topline and a reversal in income taxes.

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Tyronne Jayamanne

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