Weekly turnover value amounts to Rs. 3.33 bn
Markets declined over the holiday-shortened week with the ASPI losing
0.58% (or 33.20 points) W-o-W to close at 5735.68 points and the S&P SL
20 Index falling 19.14 points to close at 3293.57 points (also a 0.58%
decline from last week's close). Significant interest in Commercial Bank
made the counter the largest contributor to this week's total turnover
value.
The counter accounted for 20.10% of the market's total turnover as it
contributed LKR 669.38mn over the week. Sampath Bank made a contribution
of LKR 477.68mn, to represent 14.34% of total market turnover value. JKH
meanwhile, accounted for 13.25% (or LKR 441.47mn) of the week's total
turnover value.
Weekly turnover value consequently amounted to LKR 3.33bn, a dip
(-5.52%) nonetheless from last week's turnover value of LKR 3.53bn.
Daily average turnover value for the week amounted to LKR 1.11bn
relative to LKR 705.14mn a week ago. Market capitalization meanwhile
recorded a 0.58% W-o-W decline to LKR 2205.05bn compared to last week's
market capitalization of LKR 2217.81bn.
The Banking and Finance sector was the highest contributor to the
week's total turnover value, accounting for 58.14% (or LKR 1.94bn) of
the market; Commercial Bank and Sampath Bank accounted for a significant
portion (59.23%)of the sector's total contribution. The second highest
contributor to total market turnover stemmed from the Diversified sector
which contributed 18.65% (or LKR 621.26mn).
This was followed by the Services sector which accounted for 8.43%
(or LKR 280.82mn) of the week's total turnover. The Diversified sector
was helped primarily by JKH which accounted for 71.06% to the sector's
total turnover value.
The Services sector dominated the market in terms of share volume,
accounting for 50.25% (or 99.89mn shares) of the week's total share
volume. The Banking and Finance sector followed as 46.79mn shares (or
23.54% of total share volume) were traded. The Diversified sector
meanwhile, contributed 9.51% to the week's total turnover volume,
representing 18.91mn shares. The highest price gainer for the week was
Serendib Engineering Group with a W-o-W gain of 31.74%. The share closed
at LKR 204.20 compared to the last week's close of LKR 155.00. SMB
Leasing gained 28.57% over the week to close at LKR 0.90 while Miramar
Beach Hotel gained 22.47% during the week to close at LKR 89.40.
Hapugastenna Plantations and Ceylon Beverage Holdings were also
amongst the week's top price gainers. Despite only three shares trading
over the week, Selinsing Plc was the highest price loser this week,
declining 16.27% W-o-W to close at LKR 1000.10. Ceylon Hospitals Plc
(NV) recorded a W-o-W price decline of 15.05% to close at LKR 75.10
while Beruwela Walkinn closed at LKR 52.20, representing a 12.85%
decline.
Foreign investors recorded a net buying position of LKR 0.48bn, a
29.91% W-o-W decline from last week's net buying position of LKR 0.68bn.
Daily average net inflows however recorded a 16.82% increase, rising
to LKR 0.16bn from LKR 0.14bn recorded last week. Total foreign
purchases amounted to LKR 1.20bn relative to LKR 1.40bn last week
(14.28% W-o-W decline) while total foreign sales increased a marginal
0.34% W-o-W to LKR 0.73bn. In terms of volume, National Development Bank
and JKH led foreign purchases, while Commercial Bank and Tokyo Cement
led foreign sales. In terms of value too JKH and National Development
Bank led foreign purchases, while Commercial Bank and Aitken Spence led
foreign sales.
Markets lost some momentum from last week's late rally, declining 33
points from last Friday to close at 5735.68. Turnover levels however,
hit a 14-day high, reaching LKR2.0bn on Friday with approx. 50% of this
generated through crossings. Significant crossings in Commercial Bank (LKR
568.0mn), Asia Siyaka (LKR 278mn) and slightly smaller off-market
transactions in CLC, JKH, NDB and Tokyo Cement helped boost the week's
overall turnover. Average daily turnover levels for the week were
consequently higher (LKR 1.1bn) helping maintain the Y-T-D daily average
of LKR1.0bn. Meanwhile, foreign inflows to the CSE continued unabated
with net inflows for the three day week totaling LKR 476.0mn relative to
last week's 5-day total of LKR 679.1mn. Solid interest in Banking and
blue-chip counters are likely to remain next week.
Point of View
T-bill rates continued their upward momentum, rising for the 4th
consecutive week since the policy rate cut in December. Weighted average
yields across the 3-month and 12-Month maturities rose by 4 and 9 bps
respectively over the week while bids for 6-month t-bills were rejected
for the 1st time in over a year. Money market liquidity however
continued to be strong, with surplus liquidity increasing to LKR 30.8bn
relative to last week's 2-month low of LKR 19.9bn. |
