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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Bourse up as sentiment improves; net foreign inflow tops Rs. 37 b mark

Bourse up as sentiment improves; net foreign inflow tops Rs. 37 b mark

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sriranga

sriranga
Co-Admin
Dec 6 (Reuters) - Sri Lankan stocks gained more than 1 percent on Thursday to hit a two-week high, recovering from a three-month low, as foreign investors bought blue chips.

The Colombo Stock Exchange's main index rose 1.2 percent, or 64.12 points to 5,387.33, its highest close since Nov. 26.

"The market is upbeat on foreign buying in blue chips," said a stock broker.

Foreign investors bought a net 120.2 million rupees worth of shares, extending the net foreign inflow this year to 36.42 billion rupees.

The day's turnover was 877.1 million rupees ($6.82 million) shy of this year's daily average of 898.5 million rupees.

The rupee closed weaker at 128.75/85 to the dollar compared with Wednesday's close of 128.50/70 on importer dollar demand, dealers said.
($1 = 128.6500 Sri Lanka rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sanjeev Miglani)
http://uk.reuters.com/article/2012/12/06/markets-srilanka-idUKL4N09G1VR20121206

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

2Bourse up as sentiment improves; net foreign inflow tops Rs. 37 b mark Empty Stocks finally recover Thu Dec 06, 2012 10:28 pm

ddharmawardhane


Equity Analytic
Equity Analytic
Colombo bourse, coming off four consecutive trading sessions of losses, gained in value on Thursday. The benchmark ASI recovered 64.12 points (+1.20%) to close at 5,387.33 while sensitive MPI recovered 42.41 points (+0.87%) to close at 4,899.25. S&P SL 20 Index gained 28.71 points (0.98%) to close at 2,951.85.

Daily market turnover reached LKR 877.1mn supported by institutional activities in Nestle, John Keells Holdings, Distilleries, NDB and Environmental Resources Investments (warrants). Accordingly almost 63% of the total turnover was from crossings. Top contributor to the turnover was Distilleries (LKR 182.1mn) followed by National Development Bank (LKR 128.5mn) and Environmental Resources Investments – warrant 0006 (LKR 103.2mn).

Stocks which played a major role in driving the index up include Nestle Lanka (up 8.1%, close at LKR 1,300.99), Sri Lanka Telecom (up 2.6%, close at 43.20), and Chevron Lubricants (up 2.6%, close at 190.00). Out of the 19 stocks traded in S&P SL Index, only one (Carsons Cumberbatch) recorded a drop in price.

Central Investment & Finance, Peoples Leasing & Finance, HVA Foods and Swarnamahal Financial Services were the heavily traded stocks for the day.

Foreign participation was relatively higher and it accounted for 66% of the total turnover. Foreign investors ended as net buyers with a net inflow of LKR 120.2mn.

In terms of technical indicators market RSI on All Share Index increase to 41 from the previous figure of 29. The 5day moving average line is just about to cross the 10day moving average from the bottom which can be considered as a short-term bullish crossover. And also cash map excluding crossings improved to 56% suggesting the return of bargain hunters to the stock market.
http://www.nation.lk/edition/business-tbl/item/13224-stocks-finally-recover.html

http://www.elthub.blogspot.com

sriranga

sriranga
Co-Admin
All indices up, retailers encouraged by big deals

Several large crossings drove the Colombo bourse yesterday to post a turnover of Rs.877.1 million, up from the previous day’s Rs.871 million, with all indices moving up tidily – the All Share by 64.12 points (1.2%), the Milanka by 42.41 points (0.87%) and S&P by 28.71 points (0.98%) with 151 gainers leaving 51 losers trailing while 44 counters closed flat.

"The indices edged sharply higher mainly due to gains on large caps with activity led by crossings on DIST, NEST, NDB, JKH and GREG (warrants), which collectively accounted for 58% of turnover," John Keells Stockbrokers said.

A net foreign inflow of Rs. 120.21 million was reported with purchases amounting to Rs. 641.49 million.

There were crossings in Nestle (29,837 shares), JKH (over 0.1 million shares), ERI warrants W0003 (25.3 million) and W0006 (26.4 million), Distilleries (over 0.8 million shares) and NDB (1 million shares).

All these deals contributed over Rs.510 million of the day’s turnover.

Nestle was crossed at Rs.1,350 per share, JKH at Rs.210 per share, the ERI warrants at Rs.3.50 and Rs.3.90, Distilleries in two parcels at Rs.151 and NDB in two parcels at Rs.125.

Brokers said that the NDB crossings were done at a lower price and the stock was trading on the floor between Rs.130 and Rs.134.

"Big transactions dominated yesterday’s activity with retailers too encouraged by the fact that such transactions were taking place," a broker said.

Outside the crossings, Distilleries topped turnover on the trading floor with nearly 0.4 million shares done between Rs.150 and Rs.151.80 closing one rupee up at Rs.151 and generating a turnover of Rs.55.1 million.

Nestle followed with 31,228 shares traded closing Rs.104.50 up at Rs.1,399 per share trading between Rs.1,315 and Rs.1,399 contributing Rs.42 million to turnover.

Ceylon Theatres closed Rs.4 up at Rs.124 on 0.2 million shares trading between Rs.123.80 and Rs.125 generating a turnover of Rs.25 million while JKH closed Rs.1.70 up at Rs.211 on 0.1 million shares traded.

Other most traded stocks included Central Finance up one rupee to Rs.159 on 0.1 million shares, Ceylon Tobacco up Rs.5.50 to Rs.710.50 on 28,215 shares, Seylan X up 40 cents to Rs.34.50 on over 0.4 million shares and Aitken Spence up one rupee to Rs.117 on nearly 0.1 million shares.

Only Carsons which closed 70 cents down at Rs.440 on 13,622 shares was a decliner among the most traded counters yesterday.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=67700

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Colombo stock market saw a rebound thanks to improved investor sentiments whilst foreigners’ persistent buying has helped the net year-to-date inflow top the Rs. 37 billion mark.

The ASI gained by 64 points or 1.2% and MPI by 42 points or 0.8%. Turnover was Rs. 877 million.

Foreign buying amounted to Rs. 641.5 million whilst selling was Rs. 521 million, resulting in a net inflow of Rs. 120.2 million. Wednesday’s inflow of Rs. 702 million largely contributed to push the net year-to-date figure above the Rs. 37 billion mark, an all-time high.

“The Bourse saw a heavy upward movement following a long lapse. Improved market sentiment and activity was witnessed in the Bourse,” Softlogic Stockbrokers said.

The ASI’s gain was led by the gains in Nestle (+8.0%), Bukit Darah (+2.2%), John Keells Holdings (+0.7%) and Nation Lanka Finance (+1.2%).

“Large crossings dominated the turnover accounting for 63% of the turnover. Nine crossings were reported during the day with most in blue chip counters. It is noted that institutional and foreign buying remains strong as YTD net foreign inflow crossing the Rs. 37 billion mark,” Softlogic said.

Distilleries and National Development Bank enjoyed top slots in the turnover list with each counter recording two crossings each. Crossings in the former counter accounted for 841,000 shares at Rs. 151 each. The counter is trading at valuations of 7.4x FY13E earnings and PBV of 1.1x on FY13E book value. The latter counter, which was involved in the sale of its insurance arm, continued to gain interest with crossings amounting to one million shares at Rs. 125.

Further crossings were recorded in Environmental Resources Warrants W:0003 and W:0006 with 25 million and 26 million shares changing hands at Rs. 3.5 and Rs. 3.9. JKH, Nestlé and banking sector counter Seylan Bank [Non-Voting] also recorded crossings with 127,000 29,000 and 1.1 million shares changing hands at Rs. 210, Rs. 1,350 and Rs. 35.

Investor play was also noted in Ceylon Theatres (+3.3%), Central Finance (+0.6%), Aitken Spence (+0.9%) and Sampath Bank (+2.2%) with all counters recording mid-sized on-board blocks.

Lanka Securities said in terms of the technical indicators market RSI, the All Share Index increased to 41 from the previous figure of 29. “The five day moving average line is just about to cross the 10 day moving average from the bottom, which can be considered as a short-term bullish crossover. Cash map excluding crossings improved to 56%, suggesting the return of bargain hunters to the stock market,” the broking firm added.
http://www.ft.lk/2012/12/07/bourse-up-as-sentiment-improves-net-foreign-inflow-tops-rs-37-b-mark/

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