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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Reuters: Sri Lanka stocks edge higher; Rupee down

Reuters: Sri Lanka stocks edge higher; Rupee down

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

COLOMBO | Fri Oct 19, 2012 5:06pm IST
Oct 19 (Reuters) - Sri Lankan stocks inched higher on Friday led by telecom shares, but trading volumes were thin as most investors stayed on the sidelines.

The Colombo Stock Exchange's main index rose 0.43 percent, or 24.21 points, to 5,649.53 with No. 1 mobile phone operator Dialog Axiata and top fixed-line phone operator Sri Lanka Telecom gaining 1.2 percent and 3.73 percent respectively.

"The market should go up in the coming week as investors could not find the quantity they wanted. I think sellers are waiting for better prices," one stockbroker said.

The day's turnover was 306 million rupees ($2.38 million), less than a third of this year's daily average of 945 million rupees.

The market saw a net foreign inflow of 4 million rupees, extending the net offshore inflow to 33.51 billion rupees so far this year.

The rupee ended weaker at 129.10/20 to a U.S. dollar compared to Thursday's close of 128.90/95, on importer demand for the dollars, dealers said.

($1 = 128.7250 Sri Lanka rupees)
(Reporting by Shihar Aneez; Editing by Jeremy Laurence)
http://in.reuters.com/article/2012/10/19/markets-srilanka-idINL3E8LJ3NZ20121019

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Redbulls wrote:COLOMBO | Fri Oct 19, 2012 5:06pm IST
Oct 19 (Reuters) - Sri Lankan stocks inched higher on Friday led by telecom shares, but trading volumes were thin as most investors stayed on the sidelines.

The Colombo Stock Exchange's main index rose 0.43 percent, or 24.21 points, to 5,649.53 with No. 1 mobile phone operator Dialog Axiata and top fixed-line phone operator Sri Lanka Telecom gaining 1.2 percent and 3.73 percent respectively.

"The market should go up in the coming week as investors could not find the quantity they wanted. I think sellers are waiting for better prices," one stockbroker said.

The day's turnover was 306 million rupees ($2.38 million), less than a third of this year's daily average of 945 million rupees.

The market saw a net foreign inflow of 4 million rupees, extending the net offshore inflow to 33.51 billion rupees so far this year.

The rupee ended weaker at 129.10/20 to a U.S. dollar compared to Thursday's close of 128.90/95, on importer demand for the dollars, dealers said.

($1 = 128.7250 Sri Lanka rupees)
(Reporting by Shihar Aneez; Editing by Jeremy Laurence)
http://in.reuters.com/article/2012/10/19/markets-srilanka-idINL3E8LJ3NZ20121019
yes around 6300 another sell rabbit

3Reuters: Sri Lanka stocks edge higher; Rupee down Empty Bourse holds ground on low turnover Sat Oct 20, 2012 12:29 am

sriranga

sriranga
Co-Admin

Indices up marginally

The Colombo bourse yesterday held its ground though on a low turnover of Rs.306 million, down from the previous day’s Rs.621.1 million, with all indices up, albeit marginally. The All Share Price Index gained 24.21 points (0.43%), the Milanka 6.57 points (0.13%) and S&P 12.98 points (0.43%) with 111 gainers ahead of 93 losers with 106 counters closing flat.

Brokers reported a very quiet trading day with turnover low and no block trades or major transactions. The indices were much higher during early trading but the market lost steam by the close of the trading day, they said.

The day’s biggest business generators were Distilleries (Rs.31.1 million), Central Finance (Rs.31.1 million), Commercial Bank - voting (Rs.25.3 million) and Dockyard (Rs.21.3 million).

Distilleries closed flat at Rs.140 on over 0.2 million shares done between Rs.140 and Rs.141 while Central Finance closed Rs.4.80 up at Rs.170 on nearly 0.2 million shares done between Rs.165.40 and Rs.170.

Brokers said that the bulk of the Distilleries trades were in three parcels as has been the case earlier this week where big parcels accounted for most of its trades of this stock.

This held true for Central Finance too where a few large parcels accounted for most of the shares traded yesterday.

Commercial Bank (voting) closed a rupee up at Rs.107 on over 0.2 million shares done between Rs.105 and Rs.108 and Dockyard gained Rs.1.50 to close at Rs.223 on nearly 0.1 million shares done between Rs.220 and Rs.223.80.

Chevron and JKH were among the most traded blue chips with Chevron closing a rupee up at Rs.196 on nearly 0.1 million shares done between Rs.195 and Rs.197 while JKH closed Rs.2.10 up at Rs.206 on 55,173 shares done between Rs.205 and Rs.208 contributing Rs.11.4 million to turnover.

Retailers were active in Access Engineering which closed 50 cents down at Rs.19.50 on over 0.4 million shares while Panasian Power closed flat at Rs.2.60 on over 1 .3 million shares.

Among stocks which gained sharply on the most traded list were Hotel Sigiriya up Rs.9 to close at Rs.89 on nearly 63,000 shares and Ceylon Leather up Rs.5.90 to close at Rs.86 on slightly over 46,000 shares.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=64096

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

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Very Happy next week another run as per this article....or is the reuters just relaying this brokers opinion ...show me proof come monday i will believe on market turning green cheers

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