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Market rises on lower activity – Acuity Stockbrokers

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Expolanka was the highest contributor to the week’s turnover value, contributing LKR 2.36Bn or 25.61% of total turnover value. Browns Investments followed suit, accounting for 12.41% of turnover (value of LKR 1.14Bn) while JKH contributed LKR 0.71Bn to account for 7.74% of the week’s turnover.

Total turnover value amounted to LKR 9.20 Bn (cf. last week’s value of LKR 23.61 Bn), while the daily average turnover value amounted to LKR 2.30Bn (-51.30% W-o-W) compared to last week’s average of LKR 4.72Bn.

Market capitalization meanwhile, increased by 1.57% W-o-W (or LKR 61.57 Bn) to LKR 3,983.80 Bn cf. LKR 3,922.23 Bn last week.

Liquidity (Value & Volume)

Transportation Industry Group was the highest contributor to the week’s total turnover value, accounting for 25.64% (or LKR 2.36Bn) of market turnover. Industry Group’s turnover was driven primarily by Expolanka which accounted for 99.89% of the sector’s total turnover. Food Beverage & Tobacco Industry Group meanwhile accounted for 19.90% of the total turnover

value while Capital Goods Industry Group contributed 19.73% to the weekly turnover.

The Food Beverage & Tobacco Industry Group dominated the market in terms of share volume, accounting for 42.89% (or 184.74 Mn shares) of total volume, with a value contribution of LKR 1.83Bn.

The Consumer Services Industry Group followed suit, adding 14.89% to total volume (64.13 Mn shares) while the Diversified Financials Industry Group contributed 12.37% (53.28 Mn shares) to the weekly share volume.

Dividend Announcements

Company, DPS (Rs.), Dividend Type, Date (XD); Bukit Darah, 1.00, First Interim, 05/10/2021; Serendib Land, 25.00, First and Final, 01/11/2021. Company, Proportion, Dividend Type, No. of shares; Amana Bank, 1:29, Scrip Dividend, 89,705,039.

Key Economic Indicators August; Prime Lending Rate-5.85%; Ave. Wtd. Deposit Rates-4.75%; Ave. Wtd. Fixed Dep. Rates-5.62%; CCPI Inflation Y-o-Y %-6%.

Net Foreign Position

Foreign investors were net sellers this week with a total net outflow amounting to LKR 0.16 Bn relative to last week’s total net outflow of LKR 1.26 Bn (87.4% W-o-W).

Total foreign purchases increased by 79.0% W-o-W to LKR 0.65Bn from last week’s value of LKR 0.36Bn, while total foreign sales amounted to LKR 0.81Bn relative to LKR 1.62Bn recorded last week (-50.1% W-o-W).

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