Sri Lanka shares edge up; Nestle, HNB gain

(Reuters) - Sri Lankan shares edged higher in light trade on Wednesday, led by Nestle Lanka Plc and Hatton National Bank PLC (HNB) despite foreign outflows as an impending U.N. resolution on the country's human rights record later this month dented sentiment.

The main stock index ended up 0.07 percent, or 4.41 points, at 5,912.05.

Foreign investors were sellers for a fourth straight session, recording net sales of 274.2 million rupees worth of shares on Wednesday. Net outflows so far in 2014 stand at 4.16 billion rupees, and clocked 22.88 billion rupees in 2013.

The day's turnover was at 641 million rupees ($4.91 million), well below this year's daily average of about 907.4 million rupees.

Analysts said investor sentiment has been dented on concerns over the U.N. resolution, which could have an impact on the country's economy. Many potential buyers in risky assets are staying on the sidelines awaiting clear direction.

Nestle Lanka gained 1.99 percent to 1,950.20 rupees while Hatton National Bank rose 3.27 percent to 157.90 rupees.

Earlier this month, Sri Lanka questioned the independence of the human rights office of the United Nations after the United States asked it to investigate violations by the Sri Lanka government related to the civil war.

A vote on the resolution is scheduled for the last week of the session, starting on March 24. 

($1 = 130.5900 Sri Lanka rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

Sri Lanka Treasuries edge lower

Mar 19, 2014 (LBO) - Sri Lanka's Treasuries yield edged lower at Wednesday's auction with the 3-month yield down 03 basis points to 6.66 percent, data from the state debt office showed.

The 6-month yield fell 02 basis points to 6.83 percent and the 12-month yield fell 01 basis point to 7.05 basis points.

The debt office which is a unit of the Central Bank offered 10 billion rupees of bills for roll-over.

It accepted bids for 12.0 billion rupees, made up of 700 million rupees in 3-month bills, 2.8 billion rupees in 6-month bills and 8.5 billion rupees in 12-month bills.

Related News:

http://www.cbsl.gov.lk/pics_n_docs/latest_news/press_20140319.pdf

Sri Lanka shares end slightly higher

Mar 19, 2014 (LBO) - Sri Lanka's shares end 0.07 percent higher with banking and beverages stocks gaining amid strong foreign selling, brokers said.

The Colombo benchmark All Share Price Index closed 4.41 points higher at 5,912.05 up 0.07 percent. The S&P SL20 closed 10.58 points higher at 3,225.22, up 0.33 percent.

Turnover was 640.97 million rupees, up from 509.27 million rupees a day earlier with 92 stocks close positive against 74 negative.

John Keells Holdings closed 1.00 rupee lower at 218.00 rupees with market transactions of 379.53 million rupees contributing to 59 percent of the daily turnover.

JKH’s W0022 warrants closed 20 cents lower at 63.80 rupees and its W0023 warrants closed 20 cents lower at 67.10 rupees.

Foreign investors bought 180.30 million rupees worth shares while selling 454.45 million rupees of shares.

Sampath Bank closed 1.70 rupees higher at 179.90 rupees, attracting most number of trades during the day.

Nestle Lanka closed 38.10 rupees higher at 1,950.20 rupees and Hatton National Bank closed 5.00 rupees higher at 157.90 rupees, contributing most to the index gain.

Commercial Leasing and Finance closed 20 cents higher at 4.00 rupees and Commercial Bank closed 1.50 rupees higher at 116.50 rupees.

N D B Capital Holdings closed 39.00 rupees lower at 500.00 rupees and Ceylinco Insurance closed 59.90 rupees lower at 1,390.00 rupees.

Carson Cumberbatch closed 5.20 rupees higher at 350.20 rupees and Ceylon Tobacco Company closed 20.00 rupees lower at 1,100.00 rupees.

Bukit Darah closed 3.90 rupees lower at 551.10 rupees.

Sri Lanka Telecom to develop property holdings

Mar 19, 2014 (LBO) - Sri Lanka Telecom group said it had set up a separate company to develop its "extensive property portfolio" around the country which was unused or or under-used.

In 2013, SLT Property Management (Pvt) Ltd (SLTPM) had been incorporated to develop its property holdings.

"Given the growing demand for property in Sri Lanka, it was strongly felt that such idle lands could ideally be channelled towards more lucrative avenues that would not only enhance the value of the property, but also have a positive impact on the SLT Group bottom line," the company told shareholders in the annual report.

Sri Lanka Telecom inherited land around the country when the former state-run Department of Telecommunications was corporatized after being priced by the government valuer in 1991. SLT became a public company in 1996.

"The Directors believe that the Company has freehold title to the land and buildings transferred on incorporation (conversion of SLT into a public limited company on 25 September 1996), although the vesting orders specifying all the demarcations and extents of such land and buildings could not be traced," the firm said.

"The Company has initiated action to transfer legal title documentations."

The property is carried in its books at a cost of only 356 million rupees in its 2013 financial statements.

The company said there was a large number of unused or under-used properties in the group.

CSE to educate undergrads and teachers on capital market investment

In a ground breaking achievement for capital market education the University Grants Commission (UGC) and the Education Ministry have approved a program proposed by the Colombo Stock Exchange (CSE) to conduct compulsory workshops for undergraduate students and commerce teachers across the country. The introductory sessions that were held recently saw avid interest generated from the parties involved.

Accordingly workshops will be conducted throughout the year at State universities, national schools and provincial schools across the island. In turn the workshops will have a reach of over 15,000 undergraduate students and a reach of nearly 13,000 teachers. These workshops intend on making capital market investment a prevalent topic of discussion amongst an important group of future investors and influencers.

For university undergraduate students the two-day program, conducted by the investor education arm of the CSE, will provide an introduction to personal financial planning and the role of the CSE in facilitating transactions within the capital market.

The aim of the program is to motivate students to channel their savings or excess funds towards the capital market and give them an understanding of the alternative investment avenues available, while providing a theoretical and practical overview of the fundamentals of the market.

The first day of the workshop will cover the areas of savings and investment, investment opportunities, capital market processes and the benefits of investing in shares. The second day of the workshop will explain the role of the Stock Exchange as a facilitator, the role of the Securities and Exchange Commission, and the role of listed companies, stockbrokers, investors and the capital market’s contribution to the economy.

In addition to this information the teacher training workshops will also focus on providing participants with an understanding of the basics necessary to analyse financial statements and the intricacies of investing in debt securities.

“The objective of the teacher training workshop program is to educate an important and influential group of educators who will be catalysts in nurturing future investors to develop the ability to make informed investment decisions,” said CSE CEO Rajeeva Bandaranaike.
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Sri Lanka stocks inch down on foreign outflows

(Reuters) - Sri Lankan shares edged down on Tuesday in thin trade, led by a fall in Nestle Lanka Plc and foreign outflows as investors were cautious ahead of a U.N. resolution on the country's human rights record later this month.

The main stock index fell 0.11 percent, or 6.47 points, to 5,907.64.

The day's turnover was at 509 million rupees ($3.90 million), nearly half of this year's daily average of about 912.8 million rupees.

Analysts said investor sentiment has been dented on concerns over the U.N. resolution, which could have an impact on the country's economy. Many potential buyers in risky assets are staying on the sidelines awaiting clear direction.

Foreign investors were sellers for the third straight session, with net selling of 61.2 million rupees worth of shares on Tuesday. Net outflows so far in 2014 stand at 3.88 billion rupees. They were 22.88 billion rupees in 2013.

Shares in Nestle Lanka fell 3.94 percent to 1912.10 rupees.

Earlier this month, Sri Lanka questioned the independence of the human rights office of the United Nations after the United States asked it to investigate violations by the Sri Lanka government related to the civil war.

A vote on the resolution is scheduled for the last week of the session, starting on March 24. 

($1 = 130.6000 Sri Lanka Rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anand Basu)

Sri Lanka shares end weaker

Mar 18, 2014 (LBO) - Sri Lanka's shares end 0.11 percent lower with food and beverages firm Nestle losing ground amid net foreign selling on the board, brokers said.

The Colombo benchmark All Share Price Index closed 6.47 points lower at 5,907.64 down 0.11 percent. The S&P SL20 closed 1.22 points higher at 3,214.64, up 0.04 percent.

Turnover was 509.27 million rupees, up from 91.19 million rupees a day earlier with 91 stocks close positive against 74 negative.

Foreign investors bought 307.99 million rupees worth shares while selling 369.22 million rupees of shares.

Nestle Lanka closed 78.40 rupees lower at 1,912.10 rupees and Commercial Leasing and Finance closed 20 cents lower at 3.80 rupees, contributing most to the index drop.

Asiri Surgical closed 10 cents higher at 13.90 rupees and Sampath Bank closed 2.60 rupees higher at 178.20 rupees, attracting most number of trades during the day.

Carson Cumberbatch closed 5.00 rupees lower at 345.00 rupees and Bukit Darah closed 3.90 rupees higher at 555.00 rupees.

Ceylon Tobacco Company closed flat at 1,120.00 rupees and John Keells Holdings closed 90 cents higher at 219.00 rupees.

JKH’s W0022 warrants closed 2.00 rupees higher at 64.00 rupees and its W0023 warrants closed 2.40 rupees higher at 67.30 rupees.

Commercial Bank closed 50 cents higher at 115.00 rupees and Lanka Orix Leasing Company closed 2.00 rupees lower at 75.00 rupees.

Distilleries closed 30 cents lower at 199.20 rupees.

Associated Motor Finance Company closed flat at 308.00 rupees with the company on Monday allowed a due diligence in line with central bank’s financial sector consolidation process.