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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka bourse down in thin trade on credit woes

Sri Lanka bourse down in thin trade on credit woes

+3
aj
opfdo
thilankad
7 posters

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thilankad

thilankad
Manager - Equity Analytics
Manager - Equity Analytics

Sri Lanka's stock market fell in thin volume on Wednesday despite foreign buying, while the central bank held the rupee steady against dollar demand from offshore investors cashing in treasury bonds.

The island nation's main share index closed 0.73 percent or 43.67 points weaker at 5,950.99, its lowest close since Nov. 25.

The day's turnover was 498.5 million Sri Lanka rupees ($4.38 million), far below last year's average of 2.4 billion and this
year's 2.4 billion.

Analysts said the market was going through a typical year-end bout before the Christmas holidays while investors and
brokers awaited direction from the Securities and Exchange Commission under a new chief.

The regulator, after the market closed, said under Chairman Tilak Karunaratne will continue measures to maintain a fair and efficient market, including surveillance of transaction, investigations and enforcement against offenders.

"The SEC will continue to implement these measures under the newly appointed chairman and he has not been pressurized in any way by investors or any other stakeholders of the capital market in this regard," the regulator said in a statement.

The market has become attractive after falling 12.3 percent since Oct. 1 and it is trading at a forward price-to-earnings (P/E) ratio of 10.8, lower than emerging markets like Indonesia
(13.1), Malaysia (13.4), and the Philippines (12.4).

On a net basis, foreign investors bought 290,950 shares in John Keells Holdings PLC, which ended 1.7 percent
weaker at 179 rupees.


http://www.reuters.com/article/2011/12/14/markets-srilanka-idUSL3E7NE55Y20111214

http://thilankadinush.blogspot.com/

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics

"The market has become attractive after falling 12.3 percent since Oct. 1 and it is trading at a forward price-to-earnings (P/E) ratio of 10.8, lower than emerging markets like Indonesia"

wow confused PE 10.8...................?????????????? is that true??????
Because CSE site shows 15.5

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

osmand wrote:"The market has become attractive after falling 12.3 percent since Oct. 1 and it is trading at a forward price-to-earnings (P/E) ratio of 10.8, lower than emerging markets like Indonesia"

wow confused PE 10.8...................?????????????? is that true??????
Because CSE site shows 15.5

PE numbers are misleading. See http://forum.srilankaequity.com/t13941-company-profits-in-the-next-few-quarters-and-the-pe-ratio.

Some people want to pass the 'valuable' shares to the uneducated investors before the profits go down and the PE ratios go up in the next quarters.



Last edited by aj on Thu Dec 15, 2011 9:19 am; edited 1 time in total

Universalgoal


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Below 15.5 is attractive but 10.8 is dangerous situation it is a questionable why 10.8

opfdo

opfdo
Vice President - Equity Analytics
Vice President - Equity Analytics

Friends, i got a call to CSE now & they confirmed that Market PE as at yesterday was 15.5 according to their calcualtion.

CSE.SAS

CSE.SAS
Global Moderator

Thax to share the news in talk section.

Keep it up...

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

I still hold JKH shares which were above 200...

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics

osmand wrote:Friends, i got a call to CSE now & they confirmed that Market PE as at yesterday was 15.5 according to their calcualtion.

They caculate base on auditered accounts only. That means mostly their caculation may be based on Last Dec. and March Accounts. But If someone calculate the present PE with most recent Accounts, PE should be less than CSE figure.However If we caculate with most recent Accounts information we have to estimate EPS and that might be wrong when we get the actual Account information.

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