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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Bourse closes week virtually flat with turnover topping bn. Year-end window dressing suspected on some crossings

Bourse closes week virtually flat with turnover topping bn. Year-end window dressing suspected on some crossings

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
WRITTEN BY THARANGA SENARATNE

Mar 22, 2013 (LBT) - Bourse ended trading on a flat note: Bourse journeyed on a volatile path today as the benchmark index fluctuated with marginal gains and losses with improved buying interest leading the turnover to a 2-week high. Commercial Leasing & Finance (+6.45), Sri Lanka Telecom (+2.1%) and Carsons Cumberbatch (+1.1%) weighted positively on the index while losses in Nestle Lanka, John Keells Holdings and Distilleries led the bourse to close broadly flat at 5,768.88 points. The S&P SL20 followed a similar pattern closing flat at 3,312.71 points.

7 crossings breathed in 68% to the turnover: Investor hunt in John Keells Holdings persisted with the counter emerging to spearhead the turnover backed by 3 off-board blocks carrying c.995k shares which were crossed off at LKR248.0. The counter traded between LKR245.0 and LKR249.0 before closing with a marginal dip of 0.6% at LKR247.5. Union Assurance and Keells Food Products witnessed renewed participation as the former recorded a deal which carried c.2.8 mn shares at LKR91.9 while the latter added c.487k shares at a 52-week (off-market) price of LKR70.1. Sampath Bank encountered a crossing of 500k shares at LKR233.0 while on-board play in the counter was relatively dormant. National Development Bank booked a slot in the top turnover with a block of 400k shares which was crossed off at a 52-week high (off-market) price of LKR163.0.

BFI sector dominated trading contributing 56% to the turnover: Notable investor participation surrounded the BFI sector extending its trend supported by its strong 88% YoY growth in earnings during the December quarter. Banks enjoyed active play led by Sampath Bank and National Development Bank while each witnessed intra-day gains of 0.4%. Hatton Nation Bank [Non-Voting] too secured interest dipping 1.1% at its close of LKR130.1 while DFCC Bank continued to trade at tis 52-week high price at of LKR131.0. Renewed play in CLC & RAL: Commercial Leasing & Finance was among the top turnover slot with an on-board block of c.10.3 mn shares which was transacted at its intra-day high of LKR5.0 (+6.4%). Renuka Agri Foods which accounted for foreign outflows recently recorded several large trades while it traded at a 52-week low of LKR4.0. Asian Hotels & Properties saw a block of 250k shares being picked on-board at LKR70.0. Improved retail participation: Retail activity encountered some improvement as PC House, Free Lanka Capital and Panasian Power saw notable participation. Renewed interest was observed in the poultry sector with Bairaha Farms and Grain Elevators gaining 5.7% and 9.3% at their intra-day high levels respectively.
http://lbt.lk/stock-market/movement/3970-crossings-carry-the-turnover-to-a-2-week-high-led-by-bfi-sector

sriranga

sriranga
Co-Admin
COLOMBO, March 22 (Reuters) - Sri Lankan stocks gained for a seventh straight session on Friday, led by foreign buying in blue chips, but stockbrokers said local investors remained cautious over rising interest rates and a U.N. resolution on investigating war crimes.

The main index edged up 0.09 percent, or 5.05 points, to 5,768.88, its highest close since Feb. 18.

'Retailers are not back because of the high interest rates and local investors are concerned over the U.N. resolution, though it is too early to say what kind of impact it will have on the market,' said a stockbroker on condition of anonymity.

The United Nations urged Sri Lanka on Thursday to carry out credible investigations into killings and disappearances during its nearly 30-year civil war, especially in the final stages in 2009.

After the market closed, the director general of Sri Lanka's Securities and Exchange Commission said that he had tendered his resignation to take effect from May 27. No specific reason was given.

Analysts said local investors had stayed on the sidelines as yields in T-bills rose.

Yields on treasury bills rose for the third straight week at a Wednesday's auction even though the central bank kept its key policy rates unchanged for a third month in a row.,

Shares in leading fixed line telephone operator Sri Lanka Telecom rose 2.14 percent to 42.90 rupees and No.1 mobile phone operator Dialog Axiata PLC rose 1.11 percent to 9.10 rupees.

Foreign investors were net buyers of 153.8 million rupees worth of shares, extending the year-to-date net foreign inflow to 4.44 billion rupees ($34.95 million) worth of shares.

Turnover was 1.07 billion rupees, just above this year's daily average of 1 billion rupees.

The rupee ended firmer at 126.70/75 to the dollar, up from Thursday's close of 126.98/127.00, on dollar sales by banks, helping the local currency to recover from early fall of 127.05, dealers said. ($1 = 127 rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Nick Macfie)

(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/2013/03/22/3269729.htm

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

CSE.SAS

CSE.SAS
Global Moderator
The Colombo bourse closed the week yesterday with a turnover of Rs.1.07 billion, up from the previous day’s Rs.539.7 million, with the All Share Price Index up slightly by 5.05 points (0.09%) while S&P SL20 was down a marginal 0.57 points (0.02%) with 95 losers ahead of 84 gainers while 49 counters closed flat.

Crossings in JKH, Union Assurance, Keells Food, NDB and Sampath supported business volumes to the extent of Rs.652 million with a crossing of over 2.8 million Union Assurance at Rs.91.90 contributing Rs.261.8 million and nearly 0.9 million JKH crossed at Rs.248 contributing Rs.419.6 million.

Keells Food saw nearly 0.5 million shares crossed at Rs.70.10 contributing Rs.34.2 million to business volumes, NDB 400,000 shares crossed at Rs.163 generating Rs.65.2 million and Sampath 0.5 million shares crossed at Rs.243 contributing Rs.116.5 million.

There was speculation that some of the crossings may have been between connected accounts with brokers and analysts saying that ``window dressing’’ is normal with the end of the financial year on Mar. 31 approaching.

NDB was the top turnover generator on the floor closing flat at Rs.162.50 with nearly 0.2 million shares done between Rs.160.50 and Rs.163.20 contributing Rs.35.7 million to turnover.

Renuka Agri Foods with over 2 million shares traded between Rs.4 and Rs.4.20 closed 10 cents down at Rs.4 to generate the second biggest turnover of Rs.8.3 million followed by JKH down Rs.1.50 to Rs.247.50 on 30,362 shares done between Rs.245 and Rs.249.

Among the most traded blue chips, DFCC lost 80 cents to close at Rs.130 on 40,662 shares and Commercial Bank (voting) lost 60 cents to close at Rs.113.10 on 38,901 shares while NTB was up 60 cents to close at Rs.64 on 57,903 shares and Central Finance up Rs.2.10 to close at Rs.181.90 on 19,573 shares.

Brokers said that the market was slow during early trading but picked up later in the day.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=75265

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