Colombo Stock Exchange Market Review – 12th Oct 2016

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Colombo Stock Exchange Trade Summary 12-Oct-2016

Colombo bourse concluded the session with negative returns on Wednesday. The ASI closed red for the third consecutive day with a loss of 28.10 index points (0.4%) at 6,510.18. The S&P SL 20 index closed at 3,638.08, a drop of 12.01 index points or 0.3%.

Price decline in Sri Lanka Telecom (LKR 37.10,-1.9%), Ceylon Tobacco (LKR 850.50,0.8%), Hatton National Bank (LKR 228.00,-1.3%) and John Keells Holdings (LKR 154.80,-0.4%) impacted adversely to the index performance.

Daily market turnover was LKR 609mn. Top contributions to the turnover came from LB Finance (LKR 232mn) supported by a crossing of 1.6mn shares at LKR 127.00. Further, HNB- voting made a contribution of LKR 72mn with a crossing of 0.3mn shares at LKR 229.00. Teejay Lanka (LKR 60mn) and Hemas Holdings (LKR 36mn) made noteworthy contributions to the turnover.

Market sentiments were mostly negative with losers outweighing gainers 109 to 27. Retail investor activity was concentrated on Bogala Graphite, Teejay Lanka and Tokyo Cement – nonvoting.

Foreign investors were net buyers with a net inflow of LKR 270mn. Foreign participation was 34% Top net inflows were seen in LB Finance (LKR 203mn), Teejay Lanka (LKR 46mn) and HNB – voting (LKR 13mn). Top net outflows were mainly seen in Richard Peiris & Co (LKR 1mn).

Source: LSL

Sri Lankan shares end at 2-week low ahead of corporate results

Reuters: Sri Lankan shares hit a two-week closing low on Wednesday, their third straight session of losses, as increased risk appetite by foreign investors failed to offset selling pressure on index heavyweights and financials ahead of corporate results.

Trading volumes were moderate as cautious investors waited for announcements of corporate results for the September quarter starting later this month and for direction on economic policy when the country's budget is unveiled early November, brokers said.

The benchmark index of the Colombo Stock Exchange ended 0.43 percent weaker at 6,510.18, its lowest close since Sept. 27.

"Similar sentiment will prevail until the next month budget," said Prasad Fernando, CEO at Acuity Research.

Turnover was 609.3 million rupees ($4.16 million), less than this year's daily average of around 750 million rupees.

Foreign investors, who have sold a net 2.46 billion rupees worth of shares so far this year, bought a net 270 million rupees worth equities on Wednesday.

Top fixed-line phone operator Sri Lanka Telecom lost 1.85 percent, while John Keells Holdings fell 0.39 percent.

Hatton National Bank and L B Finance, both of which accounted for around 50 percent of the turnover mainly due to purchases by foreign investors, ended 1.34 percent and 0.08 percent weaker, respectively.

($1 = 146.3700 Sri Lankan rupees)

(Reporting by Shihar Aneez; Editing by Biju Dwarakanath)

Colombo Stock Exchange Market Review – 11th Oct 2016

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Colombo Stock Exchange Trade Summary 11-Oct-2016

Colombo stock market declined for second straight day despite foreign inflows to selected blue chips. Benchmark index closed at 6,538.28, down by 24.22 index points or 0.37% after touching 6,562 mark in the opening hours. High cap constituent, S&P SL 20 index shed 11.14 index points or 0.30% to end the session at 3,650.09.

Price depreciation in premier blue-chip, John Keells Holdings (closed at LKR 155.40, -1.3%) and its subsidiaries, Ceylon Cold Stores (closed at LKR 625.10, -2.6%) and Asian Hotels & Properties (closed at LKR 60.00, -3.2%) impacted the index negatively.

Daily market turnover was LKR 604mn. Commercial Bank was the top contributor to the turnover with LKR 217mn underpinned by a single crossing of 1.2mn shares at LKR 150.00. Counter accounted for 36% of the total turnover. 

Hatton National Bank (LKR 40mn), Tokyo Cement (LKR 33mn) and Seylan Developments (LKR 29mn) were among top contributors.

Losers outweighed the gainers 93 to 38, while 78 remained unchanged. High investor activity was witnessed in Seylan Developments, Commercial Credit & Finance and Tokyo Cement.

Foreign investors stood on buy side with a net foreign inflow of LKR 246mn. Foreign participation was 26%. Net foreign inflows were seen in Commercial Bank (LKR 196mn), Hatton National Bank (LKR 26mn), Teejay Lanka (LKR 18mn) while net foreign outflow was mainly seen in Hemas Holdings (LKR 14mn).

Source: LSL

Sri Lankan shares fall for 2nd session, led by John Keells

Reuters: Sri Lankan shares ended weaker for a second straight session on Tuesday, led by top conglomerate John Keells Holdings, though foreign investors' buying and gains in financials helped to cap the fall.

Trading volume was low as cautious investors awaited direction from the budget and September-quarter corporate results.

The benchmark index of the Colombo Stock Exchange finished 0.37 percent weaker at 6,538.28, its lowest close since Sept. 30.

"There was a bit of interest in the banking sector. But the overall market is still struggling with not many people ready to invest as tight liquidity has driven up market interest rates," said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.

"Outlook is mixed with expectations of better earnings for the last quarter and rising fixed-income returns ahead of the budget. Not many people are in for medium- to long-term investments at the moment. The market will move sideways until the budget."

Turnover was 603.7 million rupees ($4.12 million), less than this year's daily average of around 750 million rupees.

Stockbrokers said the market might see lower trading volumes as many investors await direction from the budget, scheduled on Nov. 10, and the government's long-term economic policy announcement.

A number of companies are expected to report their September-quarter results later this month, stockbrokers said.

Foreign investors, who have sold a net 2.73 billion rupees worth of shares so far this year, bought a net 246.3 million rupees worth of shares on Tuesday.

Shares of John Keells Holdings fell 1.3 percent.

Banking shares gained with top lender Commercial Bank of Ceylon rising 0.47 percent and Hatton National Bank climbing 0.87 percent.

($1 = 146.3700 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

Colombo Stock Exchange Market Review – 10th Oct 2016

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Colombo Stock Exchange Trade Summary 10-Oct-2016

Colombo bourse closed lower on Monday amid lackluster trading session. All Share index declined by 19.84 index or 0.30% to end at 6,562.50 while 20-scrip S&P SL index marginally dipped by 3.25 index points or 0.09% to close at 3,661.23.

Price depreciations in Nestle Lanka (closed at LKR 2,013.00, -4.2%), Ceylon Tobacco (closed at LKR 865.00, -0.6%) and Commercial Credit & Finance (closed at LKR 65.60, -3.5%) drove the index down. Ceylon Cold Stores (closed at LKR 641.70, +1.6%) and Asian Hotels & Properties (closed at LKR 62.00, +3.2%) contributed positively to the index.

Daily market turnover was LKR 336mn. John Keells Holdings (LKR 48mn) was the top contributor to the turnover with LKR 48mn followed by Ceylon Tobacco (LKR 46mn), Lanka Developments (LKR 28mn) and Tokyo Cement (LKR 28mn). No crossings were recorded during the day. 

Market breadth was negative where out of 215 stocks, 78 slipped and 48 advanced. Lankem Developments attracted high investor attention and counter closed with a gain of 11.6% at LKR 4.80. Seylan Developments, Commercial Credit & Finance and Galadari Hotels witnessed heavy investor activity.

Foreign investors were net sellers with a net outflow of LKR 8mn. Foreign participation was 29%. Net foreign outflows were seen in Tokyo Cement (LKR 15mn), Nestle Lanka (LKR 6mn), Seylan Developments (LKR 1mn) while net foreign inflow was mainly seen in Sampath Bank (LKR 3mn).

Source: LSL

Sri Lankan shares end slightly weaker; turnover touches 3-wk low

Reuters: Sri Lankan stocks edged down on Monday, led by blue chips on profit-taking, while trading volume fell to a three-week low as investors stayed on the sidelines awaiting direction from the budget and September-quarter corporate results.

The benchmark index of the Colombo Stock Exchange finished 0.3 percent weaker at 6,562.50.

Turnover was 336.2 million rupees ($2.30 million), the lowest since Sept. 19, and less than half of this year's daily average of around 751 million rupees.

Investors are not willing to sell at lower prices, resulting in lower volume, said Prashan Fernando, CEO at Acuity Research.

Stockbrokers said the market might see lower trading volumes as many investors await direction from the budget, scheduled on Nov. 10, and the government's long-term economic policy announcement.

"Investors will make their moves depending on corporate earnings in the September quarter," Fernando added.

A number of companies are expected to report their September-quarter results later this month, stockbrokers said.

Foreign investors sold a net 7.7 million rupees worth of shares on Monday, extending the net foreign outflow to 2.97 billion rupees so far this year.

Shares of Nestle Lanka Plc fell 4.15 percent, while leading fixed-line phone operator Sri Lanka Telecom dropped 1.05 percent.

($1 = 146.3700 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

Colombo Stock Exchange Market Review – 07th Oct 2016

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Colombo Stock Exchange Trade Summary 07-Oct-2016

Colombo bourse wrapped the weekly operations in greener territory despite low investor activity. Benchmark index bagged 15.38 index points or 0.23% to end the session at 6,582.34 while 20-scrip S&P SL index increased by 18.35 index points or 0.50% to close at 3,664.48.

Commercial Bank (closed at LKR 148.50, +1.8%) head the index gains along with Dialog Axiata (closed at LKR 11.60, +0.9%) and John Keells Holdings (closed at LKR 157.50). Price drops in Asian Hotels & Properties (closed at LKR 60.10, -1.6%) and Central Finance (closed at LKR 113.00, -1.4%) impacted negatively to the index performance.

Daily market turnover recorded two week low of LKR 388mn. Cargills emerged as the top contributor to the turnover with LKR 47mn underpinned by a single crossing of 0.3mn shares at LKR 175.00. Tokyo Cement (LKR 34mn), LB Finance (LKR 26mn) and Commercial Bank (LKR 26mn) were among top contributors.

Gainers outweighed the losers 66 to 59, while 83 scripts remained unchanged. High investor activity was witnessed in Galadari Hotels and counter closed with a gain of 4.2% at LKR 12.50. John Keells Holdings, Tokyo Cement non-voting and Commercial Credit & Finance were among heavily traded counters.

Foreign investors closed the session on sell side with a net foreign outflow of LKR 56mn. Foreign participation was 19%. Net foreign outflows were seen in Cargills (LKR 46mn), Tokyo Cement (LKR 19mn) and Richard Pieris (LKR 4mn). Net foreign inflow was mainly seen in Hatton National Bank (LKR 7mn).

Source: LSL