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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Trading Monday - Sri Lanka stocks up 1.2-pct, rupee weaker

Trading Monday - Sri Lanka stocks up 1.2-pct, rupee weaker

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Aug 27, 2012 (LBO) - Sri Lanka's stocks closed up 1.2 percent in a broad based rally that saw index heavy and several small caps making gains, brokers said, while the rupee traded weaker, dealers said.

The Colombo All Share Index closed up 60.2 points at 5,073.10, and the S&PSL20 closed up 0.88 percent at 2,853.54 (+25.00 points).

Turnover was 454 million rupees.

The rupee weakened to around 132.55/70 in late trading after opening stronger around 132.20/40 rupees, dealers said.

Commercial Ban of Ceylon rose 60 cents to close at 103.40 rupees, DFCC Bank rose 60 cents to close at 115.10 rupees, John Keells Holdings rose 2.20 to close at 197.40 rupees, and Hatton National Bank rose 3.40 to close at 144.40 rupees.

Citrus Leisure rose 2.80 to close at 31.80 rupees, and its warrants rose 1.10 rupees to close at 6.70 rupees, Colombo Pharmacy rose 16.60 to close at 601.50, Entrust Securities rose 2.90 to close at 20.60, ERI rose 40 cents to close at 15.30 rupees.

Hydro Power Sri Lanka rose 1.40 to close at 8.00 rupees, Panasian Power closed up 10 cents at 2.70 rupees, Colombo Land rose 3.10 to close at 35.10 rupees and Lanka Hospitals Rose 3.00 rupees to close at 35.10.

Asiri Central Hospitals rose 54.80 to close at 260.00 rupees with one share trade.
http://lbo.lk/fullstory.php?nid=29886798

2Trading Monday - Sri Lanka stocks up 1.2-pct, rupee weaker Empty Week starts on a healthy note Mon Aug 27, 2012 6:22 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
By The Nation

Market opened on a positive note today with all indices gaining ground. Retail activity was at the forefront with only one private deal taking place. Retail interest was seen throughout the day as most retail active counters were trading above their previous closing prices.

ASI gained 60.26points (1.20%) to close at 5,0773.10. MPI gained 87.49points (1.89%) to close at 4,724.02 and the S&P index gained 18.30 points (0.65%) to close at 2,846.84. Turnover was Rs. 454.3Mn.

Top contributors to turnover were Central Finance with Rs. 36.6Mn, John Keells Holdings with Rs. 30.9Mn and Colombo Land with Rs. 22.9Mn. Most active counters for the day were Hydro Power Free Lanka, Colombo Land and Citrus Leisure warrant 19.

Notable gainers for the day were Multi Finance up by 26.3% to close at Rs. 27.40, Hydro Power Free Lanka up by 22.7% to close at Rs. 8.10 and Citrus Leisure warrant 19 up by 21.4% to close at Rs. 6.80. Notable losers for the day were Tokyo cement non-voting down by 3.6% to close at Rs. 19.00, Galadari Hotels down by 2.2% to close at Rs. 13.10 and Colombo Investment Trust down by 0.1% to close at Rs. 104.90.

Cash map for today was 68.23%. Foreign participation was 15.06% of total market turnover and foreigners were net buyers of Rs. 42.5Mn.
http://www.nation.lk/edition/biz-news/item/9797-week-starts-on-a-healthy-note.html

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Aug 27 (Reuters) - Sri Lankan stocks on Monday rose 1.2 percent to their highest close since June 20, which dealers said stemmed largely from foreign buying of heavyweight John Keells Holdings.

The Colombo Stock Exchange's main index gained 60.26 points to 5,073.10. For 2012, the market has fallen 16.5 percent.

Monday's trading was the first since Treasury Secretary P.B. Jayasundera on Friday said a new chief for the country's Securities and Exchange Commission will be appointed this week.

Shares in conglomerate John Keells, which has interests in transport, hotels and other businesses, rose 1.13 percent to 197.40 rupees.

The day's turnover of 454.3 million rupees ($3.44 million) was less than a third of this year's daily average of 854.6 million rupees.

Foreign investors bought a net 42.5 million rupees worth of shares, increasing the net foreign inflow this year to 28.37 billion rupees.

The rupee was trading 132.45/55 against the dollar at 1030 GMT, from Friday's close of 132.25/30, on importer demand for greenback, dealers said. ($1 = 132.2500 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Richard Borsuk)
http://in.reuters.com/article/2012/08/27/markets-srilanka-idINL3E8JR2BH20120827

sriranga

sriranga
Co-Admin
*Rally could be sustained if interest rates ease
*Asiri Hospital Holdings mulls private placement for Rs. 2.2bn


The Colombo bourse surged on Monday on buoyant investor sentiments while speculative counters made a comeback. Brokers said the rally seen in the last few days could be sustained if interest rates eased further.

The All Share Price Index gained 60.26 points to close 1.20 percent higher at 5,073.1 while the Milanka Price Index gained 1.89 percent to close 87.49 points higher at 4,724.02. The S&P SL20 index rose 18.3 points to close at 2,846.84, a gain of 0.65 percent.

Turnover amounted to Rs. 454.3 million on a volume of 33.4 million shares changing hands during the day.

The net foreign inflow amounted to Rs. 42.5 million, taking the total net inflow to Rs. 28.5 billion so far this year.

Year-to-date, the bourse was down 16.5 percent.

"Slowly but surely the Colombo Bourse is re-gaining its investor confidence with more and more retail participation being observed. The stability of the interest rates has been a supporter of this momentum. However for the sustainability of the rally interest rates need to show a downward direction," Softlogic Equity Research (SER) said yesterday.

"John Keells Holding was the top performer of the day with continued buying interest despite the counter gaining 7% over the last 2 weeks. However, buying interest has been slowing down amidst some profit taking. The counter saw 156k shares changing hands as it gained 1.6% to close at LKR198.3. The sole crossing for the day was recorded in Central Finance with 250k shares being dealt with at LKR135.0. Number of blocks of the counter were picked up last week as well. The onboard transactions of the counter took its price to LKR140, allowing a gain for the counter of 2.3%.

Commercial Bank, a counter that has been in forefront of investor interest saw 220k shares changing hands which included 2 large blocks of 53k and 122k being dealt on-board at a similar price of LKR102.8. The counter closed the day with a marginal gain of 0.7%. The Non-voting share of the counter, which has been highly recommended for its attractive dividend yield, grabbed investor attention with counter recording a gain of 3.4% to close at LKR82.9.

The speculative counters also recorded strong investor participation with Colombo Land (+14.1%), HVA Foods (+5.3%), Citrus Leisure [Warrants 0019] and Lanka Hospitals (+14.0%) ending among the leaders," SER said.

Environment Resources Investments (ERI) gained 40 cents to close at Rs. 15.30.

Announcements...

Regnis Lanka [REG: LKR65.50]: Mr. V.J.K Vidyaratne, Director, purchased 30,000 shares at LKR65.00 on the 24th of August 2012.

Asiri Hospital Holdings [ASIR:LKR8.70]: The Board of Directors of ASIR has resolved to issue 209,829,258 ordinary shares by way of private placement at a price of LKR10.80 to Actis Investments Holdings SL Ltd for a total consideration of LKR2,266,155,986.40. The issue of shares is subject to CSE approval and shareholder approval and constitutes 19.09% of the company immediately after the issue of shares. The proceeds shall be utilized for the acquisition of 7,303,257 shares in ASHA from AMSL for not more than LKR250.00 and the acquisition of 15,883,569 shares in Central Hospital Ltd from AMSL for not more than LKR25.00 while the balance funds will be used to increase its shareholding in ASHA and AMSL and reduce the debt of the Asiri Group.

Asiri Surgical Hospital [AMSL: LKR7.50]: The board of Directors of ASHA has resolved on the 27th of August 2012 that the company shall repurchase the entirety of the 210,000,000 unlisted preference shares currently in issue in the company at a price of LKR7.06 amounting to a total consideration of LKR 1,482,600,000. The entirety of such preference shares are held by Asiri Hospital Holdings.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=60187

http://sharemarket-srilanka.blogspot.co.uk/

5Trading Monday - Sri Lanka stocks up 1.2-pct, rupee weaker Empty Return of retailers revs up Bourse Tue Aug 28, 2012 2:48 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Perhaps in anticipation of better times ahead, retailers with improved sentiments returned to the CSE in large numbers yesterday, as the Bourse saw its value rise by Rs. 23 billion with over 10,000 trades done as opposed to July-month’s daily average of 4,000 plus.

Most brokers and analysts said retailers made a strong comeback yesterday dwarfing some sceptics’ reservations over liquidity issues and negative sentiments.

Some linked the return of retailers to a perceived strong rally in tandem with the impending new appointment of a more pragmatic chairman by Finance Minister to head the Securities and Exchange Commission (SEC).

The benchmark ASI gained 60 points or 1.20% to close at 50,773.10 points, the highest level since 20 June. The MPI gained 87 points or 1.89%, helping the more active index to move back to below the 10% negative return threshold.

Turnover was Rs. 454.3 million, less than a third of this year’s daily average of Rs. 854.6 million, reflecting a full rebound in sentiments yet to come. However, the level of activity 33.4 million shares transacted via 10,484 trades lifted stakeholder sentiments. On Friday only nine million shares were done via 3,829 trades whilst the July average of daily trades was around 4,856 and in June it was 7,472 trades.

“Retail activity was at the forefront with only one private deal taking place. Retail interest was seen throughout the day as most retail active counters were trading above their previous closing prices,” Lanka Securities said, confirming overall market view. “The Bourse started the week on a positive note with both indices gaining on the back of heavy retail investor activity,” said NDB Stockbrokers.

Softlogic Stockbrokers concurred, saying: “Indices surged once again with strong positive momentum building up among investors. Activity levels have gradually improved with a lot more retail participation being witnessed. Four shares gained for every one share declined, signalling the higher investor confidence in the market.”

Asia Wealth Management opined: “The activities in the Bourse saw a boost, with gainers exceeding losers, primarily due to speculation over the appointment of a new regulator.”

The market saw a mixture of blue chips and speculative counters dominating trading yesterday. However, top blue chips fuelled the ASI’s gain led by JKH (up by Rs. 1.6% or Rs. 3.10 with a 4.89% contribution), Asian Hotels (4.40%), CDIC (4.27%), Carsons (3.29%) and Asha Central (3.20%). Overall 69% or 170 stocks of those traded gained, with only 43 reporting a dip in prices.

Top contributors to turnover were Central Finance with Rs. 36.6 million, JKH (Rs. 31 million), Colombo Land (Rs. 23 million) and Commercial Bank (Rs. 21.8 million). Volume wise, most active counters for the day were Hydro Power Free Lanka, Colombo Land and Citrus Leisure Warrant 19.

Notable gainers for the day were Multi Finance, up by 26.3% to close at Rs. 27.40, Hydro Power Free Lanka, up by 22.7% to close at Rs. 8.10, and Citrus Leisure Warrant 19, up by 21.4% to close at Rs. 6.80.
Lanka Securities said the cash map for the day was 68.23%. Foreign participation was 15.06% of total market turnover and foreigners were net buyers of Rs. 42.5 million.

NDB Stockbrokers said despite the lacklustre start, the market picked up during the latter part with heavy activity in speculative counters such as Colombo Land, HVA Foods and Lanka Hospitals.

Accumulation continued in Banking and Finance sector counters such as Commercial Bank voting and nonvoting and Central Finance, while index heavy John Keells Holdings also witnessed collection.

The Banking, Finance and Insurance sector became the highest contributor to the market turnover (due to Central Finance and Commercial Bank) and the sector index gained 1.69%. The share price of Central Finance increased by Rs. 3.10 (2.26%) to close at Rs. 140 while Commercial Bank’s share price edged up Rs. 0.70 (0.68%) to close at Rs. 103.50.

Colombo Land and Colombo Investment Trust were also seen among the top contributors for the day. The share price of Colombo Land gained Rs. 4.50 (14.06%), while Colombo Investment Trust saw its share price sliding Rs. 0.10 (0.10%) to close at Rs. 104.90.

DNH Financial said although it views the opportunities in the local Bourse from a bottom-up perspective, at a macro level, economic growth would continue unabated, notwithstanding expectation of a rise in inflationary pressures due to cost push factors caused by the rupee depreciation and high oil prices.

“We believe that the Government will have the capacity to fuel economic growth not only by strong domestic consumption but also supported by access to foreign capital at attractive rates, thereby creating multiple, interrelated drivers for economic expansion. In balancing what we consider the compelling opportunities provided by the Sri Lanka Bourse, we see particular value in domestically-focused companies, which should experience less earnings volatility against an uncertain global backdrop. Among domestically-oriented stocks, we are buyers of selected counters in the Consumer, Industrial, Diversified, Banking and Hotel sectors, which we believe are likely to attract investors who will appreciate their potential upside,” DNH opined.
http://www.ft.lk/2012/08/28/return-of-retailers-revs-up-bourse/

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