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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Turnover remained relatively high at LKR1.2 bn

Turnover remained relatively high at LKR1.2 bn

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sriranga

sriranga
Co-Admin
COLOMBO, March 8 (Reuters) - Sri Lanka shares edged up on Friday for the third session, with the index ending at a two-week high even though many cautious retail investors awaited some direction on interest rates after the central bank held policy rates steady, brokers said.

The central bank, before the market opened, left policy rates unchanged for a third straight month, as expected, saying inflation was expected to ease and reach more favourable levels by the end of the year.

The main share index rose 0.2 percent, or 11.37 points, to 5,691.39, its highest since Feb. 22.

The central bank's decision on rates came after yields on treasury bills reversed their falling trend on Wednesday for the first time in 13 weeks.

The day's stock market turnover was 1.21 billion rupees ($9.51 million), compared with a daily average this year of 1.05 billion rupees.

Foreign investors were net buyers of 206.1 million rupees, extending year-to-date foreign inflows to 2.73 billion rupees.

The rupee ended firmer at a three-week closing high of 126.50/60 to the dollar compared with Thursday's finish of 127.05/15, due to dollar sales by banks and exporters on expected foreign inflows to the stock market, dealers said. ($1 = 127.2500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Robert Birsel)

(ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)
http://www.xe.com/news/2013/03/08/3244673.htm

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Colombo bourse yesterday closed the week on a turnover of Rs.1.21 billion, down from the previous day’s Rs.2.54 billion, with both indices up – the All Share by 11.37 points (0.20%) and S&P SL20 by 2.33 points (0.07%) with 139 gainers comfortably ahead of 74 losers while 99 counters closed flat.

Brokers said that the market gave some intra-day gains at close of trading with the All Share Price Index being over 20 points most the day.

Crossings in Ceylon Tobacco, JKH, ERI, Sampath and Royal Ceramics contributed Rs.717.5 million to turnover with Ceylon Tobacco, where over 0.4 million shares were crossed at Rs.800, contributing Rs.321.4 million to turnover.

JKH too saw over 1.2 million shares crossed in two parcels at different prices – one at Rs.233 and the other at Rs.234.50 contributing Rs.288.6 million to turnover.

Royal Ceramics yielded Rs.21.8 million with over 0.2 million shares crossed at Rs.98.10, ERI Rs.62.4 million with nearly 4.1 million shares crossed at Rs.15.30 and Sampath Rs.23.3 million with 0.1 million shares crossed at Rs.232.50.

Commercial Bank (voting) was the biggest turnover generator on the floor with nearly a million shares done between Rs.107.80 and Rs.109.40 closing 20 cents down at Rs.107.90 contributing Rs.103.5 million to turnover.

A large quantity of nearly 10.2 million Piramal Glass was transacted on the floor between institutions in deals worth Rs.61.2 million. The counter closed 20 cents down at Rs.6 trading between Rs.6 and Rs.6.10 contributing Rs.61.2 million to turnover.

Royal Ceramics was up Rs.1.30 to close at Rs.100 on over 0.4 million shares done between Rs.98.20 and Rs.101 contributing Rs.43.7 million to the day’s business volumes while HNB (voting), which had seen considerable interest recently, closed Rs.4 up at Rs.156 on nearly 0.3 million shares done between Rs.152 and Rs.156 generating a turnover of Rs.39 million.

HNB (non-voting) also moved up Rs.3.70 to close at Rs.127.40 on over 0.2 million shares done between Rs.123.50 and Rs.128.50 contributing Rs.27.3 million to turnover.

Renuka Shaw Wallace was up Rs.1.70 to close at Rs.20 on nearly 1.5 million shares, JKH down Rs.1.10 on the floor to close at Rs.233 on over 0.1 million shares and Asian Hotel Properties up Rs.1.40 to close at Rs.71 on over 0.2 million shares.

Renuka Holdings closed 50 cents up at Rs.31.30 on 0.5 million shares, Nation Lanka closed 40 cents down at Rs.9.50 on over 1.4 million shares and Janashakthi closed 50 cents up at Rs.12 on nearly a million shares.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=74243

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
WRITTEN BY THARANGA SENARATNE

Mar 08, 2013 (LBT) - The market ended the week on a soft note with the ASPI closing a notch higher at 5691. Turnover remained relatively high at LKR1.2 bn with trading in Ceylon Tobacco and John Keells Holdings accounting for 53% of the day’s total. Gainers matched losers with Miramar Beach, Huejay and SMB Leasing(X) rising by 42.5%, 28.8% and 25.0% and offsetting declines in EB Creasy, Nuwara Eliya Hotels and Hikkaduwa Beach Resort which lost 8.2%, 7.2% and 7.1% respectively. Meanwhile, Asian markets climbed further higher today following another record-breaking close for Wall Street's Dow Jones index, while Tokyo hit its highest level since the collapse 12 of Lehman Brothers in 2008.

Analysing, the performance of stocks on an YTD basis, the strongest gains continued to be reported by bluechip stocks in food & beverages, banking & finance and diversified sectors on the back of robust domestic consumption and we expect this trend to continue in 2013 which is likely to be supported by declining interest rates. Even though several of these stocks can be perceived to have moved away from the undervalued range to the low end of the "fairly valued" category, we believe that the likelihood of firm EPS growth will compress any excess building – up in valuations and consequently remain an attractive investment opportunity for alpha investors. Consequently, we advise investors to adopt a highly focused stock picking strategy focusing on liquid counters that will benefit from the current strong domestic consumption cycle while avoiding a herd mentality approach.
http://lbt.lk/stock-market/movement/3854-turnover-remained-relatively-high-at-lkr12-bn-

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