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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Foreigners step up buying; net inflow tops Rs. 400 m in two days

Foreigners step up buying; net inflow tops Rs. 400 m in two days

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
‘What do foreigners see that locals don’t?’ was a question posed at a recent stock market forum, and proving its relevance, non-nationals continue to dominate the Colombo Bourse with net inflows topping Rs. 400 million in the past two days.

Yesterday net foreign buying amounted to Rs. 251 million, on the back of Rs. 178 million on Monday. Year to date figure is Rs. 24 billion. During the first two days foreigners had bought Rs. 520 million worth of shares.

Foreign participation was 38% of total market turnover yesterday whilst on Monday it was 33.5%. Foreigners were active on Commercial Bank non-voting shares which dominated turnover with Rs. 100 million, HNB non-voting, which saw a turnover of Rs. 65 million and Distilleries, which produced Rs. 48 million. On Monday foreign funds picked up JKH as well as Union Bank and Sampath Bank shares. A big parcel of 6% stake or 4.37 million shares of Dankotuwa Porcelain traded at Rs. 12.20 each in a deal worth Rs. 53 million with Japanese firm International Ceramic Inc., doing a transfer.

Turnover yesterday was a healthy Rs. 520 million, above Monday’s Rs. 332 million, whilst indices closed marginally negative.

Among other active blue chips were Carson Cumberbatch, Nestle and Ceylon Tobacco, whilst the market also saw some renewed interest in stocks such as Pan Asia Bank, Guardian Capital, Ascot Holdings, LAUGFS Gas non-voting, HVA Foods, Free Lanka Capital, Richard Peiris and Softlogic Holdings.

“The Bourse extended its sluggish momentum as it dipped below its intra-day support level by mid-day to touch a low of 4862.78 points (down by 19 points) in ASPI. A slight recovery was witnessed thereafter as the broader index closed largely flat whilst the MPI and the S&P SL20 index also followed a similar pattern.

However four large off-board transactions fuelled the stagnant volume level and thereby the turnover within the initial hour followed by another off-market deal during mid-day,” Softlogic Stockbrokers said.
http://www.ft.lk/2012/07/25/foreigners-step-up-buying-net-inflow-tops-rs-400-m-in-two-days/

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics


‘What do foreigners see that locals don’t?’ was a question posed at a recent stock market forum, and proving its relevance, non-nationals continue to dominate the Colombo Bourse with net inflows topping Rs. 400 million in the past two days.
Yesterday net foreign buying amounted to Rs. 251 million, on the back of Rs. 178 million on Monday. Year to date figure is Rs. 24 billion. During the first two days foreigners had bought Rs. 520 million worth of shares. Foreign participation was 38% of total market turnover yesterday whilst on Monday it was 33.5%. Foreigners were active on Commercial Bank non-voting shares which dominated turnover with Rs. 100 million, HNB non-voting, which saw a turnover of Rs. 65 million and Distilleries, which produced Rs. 48 million. On Monday foreign funds picked up JKH as well as Union Bank and Sampath Bank shares. A big parcel of 6% stake or 4.37 million shares of Dankotuwa Porcelain traded at Rs. 12.20 each in a deal worth Rs. 53 million with Japanese firm International Ceramic Inc., doing a transfer.
Turnover yesterday was a healthy Rs. 520 million, above Monday’s Rs. 332 million, whilst indices closed marginally negative.
Among other active blue chips were Carson Cumberbatch, Nestle and Ceylon Tobacco, whilst the market also saw some renewed interest in stocks such as Pan Asia Bank, Guardian Capital, Ascot Holdings, LAUGFS Gas non-voting, HVA Foods, Free Lanka Capital, Richard Peiris and Softlogic Holdings.
“The Bourse extended its sluggish momentum as it dipped below its intra-day support level by mid-day to touch a low of 4862.78 points (down by 19 points) in ASPI. A slight recovery was witnessed thereafter as the broader index closed largely flat whilst the MPI and the S&P SL20 index also followed a similar pattern. However four large off-board transactions fuelled the stagnant volume level and thereby the turnover within the initial hour followed by another off-market deal during mid-day,” Softlogic Stockbrokers said.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It is the local retail investors who want to make a small profit for the day bring down the prices to unrealistic levels.
For example even one million shares of a particular company trade say at 20 /= , when there is no other buyer, the retailer will try to get a 100 shares at 19.90 /= from another retailer who quote at 20.10 /= and there won’t be any trade.
Next day supposing the same share trades at 22/=, the same retailer will try to buy the share at 21.90/=. The retailers should buy quality shares at least for the price what the big investors pay(make sure that the price is worth and not market manipulation ). The retailer should buy shares with the idea of keeping the shares at least for six months. They should have the financial background for that.Otherwise they will loose. As it is now it is the retailers who bring down the market by bargaining for 10 cents for a hundred rupee share while foreigners and other investors accumulate good shares.



Last edited by Harry82 on Wed Jul 25, 2012 8:12 pm; edited 2 times in total (Reason for editing : spelling)

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Thanks for posting, but please include the source/link.

Yes the foreign inflows has been encouraging this week.

@Harry82 wrote:

‘What do foreigners see that locals don’t?’ was a question posed at a recent stock market forum, and proving its relevance, non-nationals continue to dominate the Colombo Bourse with net inflows topping Rs. 400 million in the past two days.
Yesterday net foreign buying amounted to Rs. 251 million, on the back of Rs. 178 million on Monday. Year to date figure is Rs. 24 billion. During the first two days foreigners had bought Rs. 520 million worth of shares. Foreign participation was 38% of total market turnover yesterday whilst on Monday it was 33.5%. Foreigners were active on Commercial Bank non-voting shares which dominated turnover with Rs. 100 million, HNB non-voting, which saw a turnover of Rs. 65 million and Distilleries, which produced Rs. 48 million. On Monday foreign funds picked up JKH as well as Union Bank and Sampath Bank shares. A big parcel of 6% stake or 4.37 million shares of Dankotuwa Porcelain traded at Rs. 12.20 each in a deal worth Rs. 53 million with Japanese firm International Ceramic Inc., doing a transfer.
Turnover yesterday was a healthy Rs. 520 million, above Monday’s Rs. 332 million, whilst indices closed marginally negative.
Among other active blue chips were Carson Cumberbatch, Nestle and Ceylon Tobacco, whilst the market also saw some renewed interest in stocks such as Pan Asia Bank, Guardian Capital, Ascot Holdings, LAUGFS Gas non-voting, HVA Foods, Free Lanka Capital, Richard Peiris and Softlogic Holdings.
“The Bourse extended its sluggish momentum as it dipped below its intra-day support level by mid-day to touch a low of 4862.78 points (down by 19 points) in ASPI. A slight recovery was witnessed thereafter as the broader index closed largely flat whilst the MPI and the S&P SL20 index also followed a similar pattern. However four large off-board transactions fuelled the stagnant volume level and thereby the turnover within the initial hour followed by another off-market deal during mid-day,” Softlogic Stockbrokers said.

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics
@Harry82 wrote:It is the local retail investors who want to make a small profit for the day being down the prices to unrealistic levels.
For example even one million shares of a particular company trade say at 20 /= , when there is no other buyer, the retailer will to get a 100 shares at 19.90 /= from another retailer who quote at 20.10 /= and there won’t be any trade.
next day supporting the same share trades 22/=, the same retailer will try to buy the share at 21.90/=. the retailers should buy quality shares at least for the price what the big investors pay(make sure that the price is worth and not market manipulation ). The retailer should buy shares with the idea of keeping the shares at least for six months they should have the financial background for that. otherwise they will loose. As it is now it is the retailers who bring down the market by bargaining for 10 cents for a hundred rupee share while foreigners and other investors accumulate good shares

Retailers should move into "habit of investing" when market is down.

ie: Invest certain amount in every month ;

notme

notme
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
locals step up selling

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