Amidst foreign buying, return of locals boosts Bourse

Redbulls · 1 Trading Wednesday - Sri Lanka stocks close up 0.4-pct Wed Apr 03, 2013 5:01 pm

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Apr 03, 2013 (LBO) – Sri Lanka’s stock closed up 0.4 percent Wednesday helped by investor interest in banks brokers said.

The benchmark Colombo All Share Index closed up 23.85 points at 5,728.47 up 0.42 percent and the S & P SL 20 Index closed 15.90 points higher at 3,305.27 up 0.48 percent.

The day's turnover was 931 million rupees.

Foreign activity was a net inflow of with purchases of 474 million rupees and sales of 134 million.

DFCC gained 3.90 rupees to close at 136.00 rupees. Union Bank of Colombo gained 2.10 rupees to close at 19.30 rupees, while Commercial Bank of Ceylon closed flat at 94.0 rupees

The top contributors were Ceylon Tobacco Company, DFCC and Union Bank of Colombo

Ceylon Tobacco Company gained 11.30 rupees to close at 779.60 rupees. Index heavy John Keells Holdings gained 1.30 rupees to close at 62.70 rupees.

Aitken Spence Hotel Holdings PLC gained 3.60 rupees to close at 76.60 rupees.
http://lbo.lk/news/Sri_Lanka_stocks_close_up_0.4-pct/1477063004

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COLOMBO, April 3 (Reuters) - Sri Lankan stocks finished higher on Wednesday, snapping a five-session losing streak as foreign investors picked up beaten down bank shares while hopes of easing interest rates boosted retail investor sentiment, brokers said.

The main index ended 23.85 percent, or 0.42 points firmer at 5,728.47, recovering from its lowest since March 15.

Foreign investors, who mainly bought banks, were net buyers of 328.1 million rupees worth of shares, extending the year-to-date net foreign inflow to 5.64 billion rupees worth of shares.

Yields in T-bills were steady at a weekly auction, ending a four-week rising trend, two days after the central bank chief said that market interest rates would ease this year as the monetary authority maintains a loose monetary policy stance. ,

'If the trend of falling interest rate continues, then we will see a revival in retail activity which will boost the overall market,' said a stockbroker asking not to be named.

Turnover was 931.1 million rupees ($7.36 million), below this year's daily average of 999.1 million rupees.

The rupee ended firmer at 126.20/25 to the dollar, from Tuesday's close of 126.40/45, on inward remittances and exporter dollar conversions, a currency dealer said. ($1 = 126.4500 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/2013/04/03/3286861.htm

CSE.SAS · 3 Renewed buying interest on bourse Wed Apr 03, 2013 5:54 pm

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WEDNESDAY, 03 APRIL 2013 17:30 WRITTEN BY THARANGA SENARATNE

Apr 03, 2013 (LBT) - Bourse on uptrend: The benchmark index displayed a clear uptrend today with notable buying pressure on banking counters. In the mid-day trading the bourse displayed a notable retracement, giving investors the opportunity to buy into the next rally. ASPI gained 24 points to settle at 5,727.47. Gains marked in Ceylon Tobacco Company (+1.5%), DFCC Bank (3.0%) and Union Bank (12.2%) weighted heavily on the positive performance of the index. S&P SL20 too ended up green by 16 points to settle at 3305.27.

John Keells Holdings spearheaded turnover: John Keells Holdings spearheaded the turnover with heavy off-board buying interest. The counter recorded three off-market blocks accumulating to 1.2 mn shares which were transacted at LKR248.0 before closing with a 0.4% gain at LKR247.0. Nations Trust Bank too recorded large crossing of 1.5mn shares which changed hand at a price of LKR58.0. The counter closed at LKR59.1, up 1.03%. BFI sector displaying sustained interest: Notable level of interest was seen in much sought after banking sector counters such as National Development Bank, DFCC Bank, Union Bank, Sampath Bank and Pan Asia Bank. The former three counters gained significant momentum today where it reached 52-week high by gaining 2.0%, 3.0% and 12.2% respectively. Pan Asia Bank too displayed sustained buying interest throughout the day where it peaked to a psychological high of LKR20.0 before closing at LKR.19.80, up 5.9%. Subdued Retail Interest: Retail activity remained sluggish though some interest was witnessed in Nation Lanka Finance with active level of trading. The counter closed flat at LKR.8.80.
http://lbt.lk/stock-market/movement/4065-renewed-buying-interest-on-bourse

CSE.SAS · 4 Amidst foreign buying, return of locals boosts Bourse Thu Apr 04, 2013 1:39 am

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The Colombo stock market experienced a rebound yesterday with its value rising by Rs. 9 billion thanks to the return of locals amidst continued foreign buying.

The ASPI improved by 24 points, with gains marked in Ceylon Tobacco Company (+1.5%), DFCC Bank (3.0%) and Union Bank (12.2%) weighted heavily on the positive performance of the index.

The S&P SL20 too ended up green by 16 points.

“The benchmark index displayed a clear uptrend with notable buying pressure on banking counters. In the mid-day trading the Bourse displayed a notable retracement, giving investors the opportunity to buy into the next rally,” Softlogic Stockbrokers said.

“Turnover passed Rs. 900 million mainly owing to the 50% contribution that came from index heavy John Keells Holdings, National Development Bank and Nations Trust Bank,” NDB Stockbrokers said. John Keells Holdings saw continued foreign interest while retail buying was seen in National Development Bank, day prior to its ex-dividend date. Buying interest was also evident in Union Bank, NDBS added.

Lanka Securities emphasised banks were the star performers, with NDB, DFCC Bank and Union Bank reaching their 52-week highs. NDB, which declared a Rs. 10 dividend last week, closed at Rs. 171 (+1.6%) with only one day remaining before the XD. DFCC Bank closed at Rs. 137.10 (+3.8%) while speculators drove Union Bank share to Rs. 19.30 (+12.2%).

Premier blue chip JKH saw heavy off-board buying interest. The counter recorded three off-market blocks accumulating to 1.2 million shares done at Rs. 248 before closing with a 0.4% gain at Rs. 247. Nations Trust Bank too recorded large crossing of 1.5 million shares which changed hand at a price of Rs. 58 whilst it closed up 1% to Rs. 59.1.

Sampath Bank and Pan Asia Bank too figured among investor favourites. Sustained buying interest on Pan Asia Bank saw its price peak to a psychological high of Rs. 20 before closing at Rs. 19.80, up 5.9%.

Retail activity remained sluggish though some interest was witnessed in Nation Lanka Finance with active level of trading. The counter closed flat at Rs. 8.80. Further, among the heavily traded stocks Central Finance dropped by 7.2% and reached a 52-week low price of Rs. 2.50 during the day.
Lanka Securities said cash map yesterday was 61.7% whilst foreign participation was 21.7% of total market turnover. Foreigners were net buyers to the tune of Rs. 328 million bringing the year-to-date inflow to Rs. 5.5 billion.
http://www.ft.lk/2013/04/04/amidst-foreign-buying-return-of-locals-boosts-bourse/

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Amidst foreign buying, return of locals boosts Bourse

1 Trading Wednesday - Sri Lanka stocks close up 0.4-pct Wed Apr 03, 2013 5:01 pm

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2 Sri Lanka stocks recover from 2-week low on foreign buying Wed Apr 03, 2013 5:50 pm

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3 Renewed buying interest on bourse Wed Apr 03, 2013 5:54 pm

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4 Amidst foreign buying, return of locals boosts Bourse Thu Apr 04, 2013 1:39 am

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5 Re: Amidst foreign buying, return of locals boosts Bourse

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