FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Stock market rebound gathers momentum

Stock market rebound gathers momentum

Go down  Message [Page 1 of 1]

1Stock market rebound gathers momentum Empty Stock market rebound gathers momentum Wed Aug 29, 2012 3:03 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The rebound in the Colombo stock market gathered further momentum yesterday, with retailers remaining and those with improved sentiments reinvesting gains from mid-day profit taking.

The latter was evident as the market originally rose sharply with ASI up 0.8% and MPI by 1.1% and thereafter slowed down before gaining upwards once again. Throughout the day, both indices remained in positive territory before the ASI closed up 0.5% and the MPI by closed up 0.6%.

A fresh transfer of a 5% stake, amounting to 23 million shares of Aitken Spence from Distilleries to Melstacorp at Rs. 110, in a deal worth Rs. 2.54 billion, boosted turnover to Rs. 3.07 billion.

With yesterday’s transfer Melstacorp has acquired almost the entirety of Spence stake from its parent Distilleries, whilst only a further 0.8 million shares remain.

The high volume of 60.4 million shares done via 13,211 trades reflects the level of activity yesterday largely dominated by retailers. Both were new highs whilst on Monday volumes were 33 million shares done via 10,000 plus trades. Though less active, foreigners remain net buyers collecting top stocks.

Premier blue chip JKH too was inactive with Captains and foreigners focused elsewhere. Captains were seen collecting Sampath Bank whilst ETF was picking up DFCC, Distilleries and ACL Cables. EPF was absent.

“The broader market started the day in the green but saw the MPI dip into negative territory due to a drop in John Keells Holdings. However, positive sentiment across the board resulted in the indices soon recovering,” NDB Stockbrokers said.

“Improving activity levels is now signalling a regain in investor confidence as all three indices consolidated their stay in the green,” said Softlogic Stockbrokers.

Asia Wealth Management added: “The Bourse enjoyed active trading and extended its stay in green” and said retailers making a strong comeback was noteworthy and this was evident through their active participation in retail favourite counters.

Lanka Securities too said retail interest continued with poultry companies also getting into the act and added that many counters with lower absolute values gained ground on the hope of better times ahead. “However, the worrying factor remains to be the rising rate of interest. Yields on all three maturing treasury bills edged higher in auction,” it added.

Analysts said retailers were revitalised in anticipation of a more pragmatic capital market regulation by the incoming SEC chairman, whilst others noted the fresh round of buying was akin to return of bargain hunters given the original 20% fall in ASI last month and attractive price earnings ratio.

However, the year-to-date negative return has been reduced to 16% by yesterday, thanks to the recent revival. The market’s value rose by Rs. 35 billion yesterday, bringing the total to Rs. 106 billion since the 20 July meeting between President and Finance Minister Mahinda Rajapaksa and capital market stakeholders.

Whilst Spence boosted turnover levels NDB Stockbrokers said interest was seen in Distilleries and DFCC Bank. Meanwhile, Colombo Land and Citrus Leisure saw considerable retail activity.

The Banking, Finance and Insurance sector emerged as the second highest contributor to the market turnover (due to DFCC Bank) and the sector index moved up by 0.29%. The share price of DFCC Bank appreciated by Rs. 3.90 (3.39%) to close at Rs. 119.00.

Colombo Land, Citrus Leisure and Distilleries were also seen among the top contributors for the day. The share price of Colombo Land gained Rs. 2.30 (6.55%) to close at Rs. 37.40 while Citrus Leisure saw its share price sliding Rs. 1 (3.14%) to close at Rs. 30.80. The share price of Distilleries jumped Rs. 4 (3.36%) to close at Rs. 123.

Softlogic Stockbrokers said JKH sustained its pose as a key contributor for the day as it surged 0.8% at its highest to close at Rs. 198.40 (+0.3%) along with Sri Lanka Telecom, which secured a gain of 3.93% at its close of Rs. 39.30.

“Retail participation encompassed the momentum with main focus surrounding Colombo Land and Development, HVA Foods, Lanka Hospitals, Citrus Leisure and its Citrus Leisure [Warrants 0019]. Further, several large on-board transactions were witnessed in a number of penny stocks; Beruwala Resorts, Panasian Power, Free Lanka Capital and Hydro Power Free Lanka,” Softlgic added.

DNH Financial said it sees no credible reason for medium to longer term investors to shy away from the domestic Bourse given the prospect of a gradual re-rating over the next few months underpinned by macroeconomic and corporate EPS growth.

“However, for those seeking speculative gains, the Bourse is clearly likely to disappoint as the opportunity to realise short term gains is likely to prove more and more difficult,” it added.

“While investors may perceive high interest rates as stealing the appeal for equities, we do not expect this to happen in the short term given the relative asset allocation disconnect between equities and interest rates.

Accordingly, we believe that the next few months will offer an attractive opportunity for risk-savvy domestic investors to be able to proactively position themselves to capitalise on a positive movement in the market.

We also believe that for international fund managers squaring off their books or increasing their emerging markets equity allocation, Sri Lanka offers an attractive investment opportunity against a nervous global markets backdrop,” DNH Financial said.
http://www.ft.lk/2012/08/29/stock-market-rebound-gathers-momentum/

K.Haputantri

K.Haputantri
Co-Admin
As I see the current run, its some what manipulated.

Reasons? Genuine investor sentiments are in shatters(this was confirmed by IMF too), manipulaters are of upbeat mood over the two resignations, no regulater to oversee what is happenning at present and manipulaters have a field day! This would last until the manipulators off load their over priced stocks.

Hence, my advise is "play safe" in such fake runs. Of course, this is a good time for experienced, short term players. Dont play this risky game if you dont know the game.

Novices, please stick to fundamentally strong shares (better EPS/NAV, good management, future plans etc) and avoide CRAPS even if you feel like jumping on them. There are good fundamentally strong shares at bargain prices.

Dont be guided by any one. Ask questions even in this forum (there are guys who promote CRAPS) and decide yourself. Afterall its your hard earned money. Happy trading. sunny

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum