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June sustains robust investor appetite

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This was mainly spearheaded by investors taking positions in LOLC Holdings, Expolanka Holdings, Windforce, Royal Ceramics and Browns Investments during the month.

However, the bourse witnessed back to back index drops over the last couple of days of the month led by some profit taking and price dips seen in several blue-chip counters. Hence, the All Share Price Index decreasedby18.9 points (-0.2%) to close at 7,837.8 yesterday while the S&P SL20 Index also weakened by 34.7 points (-1.2%) to close the day at 2,968.3.

Moreover, LOLC Holdings, Nestle Lanka, Commercial Bank, Dialog Axiata and Browns Investment remained as the top negative contributors to the ASPI during the day.

Further, the broader market’s total turnover stood at LKR. 1,713.9 mn against the 12-month average daily turnover of LKR3,114.9 mn, whilst the volume traded for the day was 87,149.5k against the 12-month average daily volume of 173,327.7. Diversified Financials, Capital Goods, Food and Beverage and Materials were the main sectors that contributed to the daily turnover.

The top traded counters for yesterday were Browns InvestmentLKR171.8mn, Expolanka Holdings LKR., LOLC Holdings LKR. 130.0 mn, John Keells Holdings LKR. 81.1 mn and Hatton National Bank LKR. 80.5mn.

Foreigners were net sellers yesterday recording an outflow of LKR61.0mn (USD30.5k) during the day. Foreign purchases stood at LKR48.7mn (USD24.3k) enticed by Hatton National Bank (LKR33.4mn), Grain Elevators(LKR6.0mn), Lanka Walltiles (LKR2.7mn) and Browns(LKR1.0mn) whilst total foreign sales amounted to LKR110.0mn (USD54.8k), mainly seen in John Keells Holdings (LKR43.4mn),LB Finance (LKR14.1mn), Ceylon Tobacco (LKR11.3mn) and Hatton National Bank (Non-Voting) (LKR8.0mn). Further, off-board transactions were witnessed in Hayleys yesterday.

Additionally, LOLC Development Finance, Kotmale Holdings, Commercial Development and Dialog Finance refreshed their 52-week high prices whilst HNB Assurance, Hayleys Fibre and Prime Land Residencies witnessed the 52-week low price points yesterday. Further, Browns Investments, Expolanka Holdings, LOLC Holdings, John Keells Holdings and Hatton National Bank remained as the most actively traded stocks yesterday.

Meanwhile, Panasian Power announced a second interim dividend of LKR0.14 whilst Printcare declared a final dividend of LKR1.0 for the financial year 2021.Malwatte Valley Plantations also announced a final dividend of LKR0.1 for financial year 2020.

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