Bourse down on profit-taking despite the earnings season
The market ended the week in red territory owing to profit taking by
the investors on the grounds of re-investing in growth stocks.
The ASPI (All Share Price Index) closed the week at 4235.6 points,
down by 16.8 points or 0.4 percent compared to last week, while the MPI
(Milanka Price Index) abated by 60 points or 1.25 percent to close at
4738.7 points on Friday.
The Colombo Stock Exchange
Commercial Bank was placed highest in terms of activity levels for
the week with trading a volume of 4.4 million.
The blue chip stock added over Rs 1.1 billion to the week's turnover.
Commercial Bank closed the week at Rs 248.50 per share compared to last
week's closing price of Rs 242.00 per share, whilst trading between a
price band of Rs 242.00 and Rs 250.00 per share over the week's trading.
Apart from the above, John Keells Holding and Ceylon Leather contributed
considerably to the week's turnover.
John Keells Holding's contribution was approximately Rs 789.4 million
and Ceylon Leather was Rs 588.7 million to the total turnover, with
approximately 4.3 million John Keells Holding and 3.4 million Ceylon
Leather shares trading during the week.
John Keells Holding saw its price depreciating by 2.44 percent to
close at Rs 180.25 per share this week, while Ceylon Leather ended the
week at Rs 179.25 per share an increase of 24.9 percent Week-On-Week.
Hatton National Bank and Hayleys were also among the heavily traded
Hayleys recorded an impressive Q4 results of Rs 1.33 billion
(attributable to equity holders) resulting in Rs 2.16 billion for the
financial year, which was the highest in its 132 year history.
Hayleys price appreciated by 4.9 percent to close at Rs 295.00 per
share this week, while Hatton National Bank ended the week at Rs 242.25
per share, a gain of 3.9 percent Week-On-Week.
Overall activity levels abated marginally by 2.9 percent to Rs 7.2
billion this week. The average daily turnover stood at Rs 1.44 billion
compared Rs 1.48 billion posted last week. Foreign investors were net
sellers this week amounting to a net amount of Rs 207 million.
Foreign purchases showed a significant increase of 81.2 percent to
stand at Rs 1.85 billion, while foreign sales witnessed an increase of
63.6 percent amounting to Rs 2.06 billion. Foreign participation stood
at 27.2 percent of total activity.
Earnings season continue
Volume wise highest traded stocks this week were, Janashakthi,
Dialog, Renuka Agri, Tess Agro and Nawaloka.
Nestle recorded the highest price change for the week with a 39
percent price appreciation to close at Rs 756.50.
Overall activity levels abated marginally by 2.9 percent to Rs 7.2Bn
turnover (WOW). While the ASPI ended the week at 4235.6 points, and the
more liquid MPI ending at 4738.7 points.
During the week the ASPI abated 16.8 points and the MPI 60 points.
At the end of the week, 97 companies released their March quarterly
contained herein has been compiled from sources that Acuity Stockbrokers
(Private) Limited (ASB) believes to be true and reliable but we do not
hold ourselves responsible for its completeness or accuracy. No matter
published herein create any liability of any kind on ASB's judgment of
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