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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Net inflow to Bourse tops Rs. 8 b mark as foreigners focus on COMBank

Net inflow to Bourse tops Rs. 8 b mark as foreigners focus on COMBank

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1Net inflow to Bourse tops Rs. 8 b mark as foreigners focus on COMBank Empty Bourse near a resistance Mon Apr 22, 2013 5:36 pm

Redbulls

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

Apr 22, 2013 (LBT) - Indices wandering on a resistance: The Colombo bourse was trading on mixed sentiments, near a resistance area at 5,900. The benchmark index has been clustering near this area for the last few days on indecision. ASPI lost marginally by 10 points to end at 5,872.43. Gains denoted on Colombo Land and Development (6.9%), National Development Bank (2.0%) and losses on Finlay Colombo (-10.0%), Selinsing (-7.7%) led indecision tone on the benchmark index.

Commercial spearheading the crossings board: Commercial Bank the largest private listed bank spearheaded the turnover contributing to 42.2% of the daily turnover. The counter registered five large off-board blocks totaling 3.1mn shares which were transacted at a price of LKR113.0. However on-board activity of the counter was low except for a single 98k transaction which was dealt at LKR113.0 in early trading. The counter closed flat at LKR113.0. Brown and Company too exhibited some off-board interest with a single crossing of 175k shares at a price of LKR118.0.

Heavy retail activity on Colombo Land & Development Company: Investor interest was further evident on Colombo Land and Development Company with notable on-board activity. The counter denoted several large on-board transactions, largest being 50k shares which was dealt at LKR43.4. The counter further extended its rally today with an intra-day high of LKR43.60 before closing at LKR43.40 with a gain of 7.0%. Retail activity heavy on speculative counters: Investor interest was heavy on speculative counters with intra-day rallies on several retail favorites; HVA Foods (+6.8%), Citrus Leisure (+6.0%) and Kalpitiya Beach Resort (+15.1%).
http://lbt.lk/stock-market/movement/4218-bourse-near-a-resistance

sriranga

sriranga
Co-Admin
COLOMBO, April 22 (Reuters) - Sri Lankan shares edged down for a second straight session on Monday, as investors sold banking stocks that have a fair exposure to gold pawn business after prices of the yellow metal plummeted in global markets.

Gold rose on Monday, supported by strong physical buying after its fall last week to the weakest price in two years, but sentiment was shaky as bullion holdings in exchange-traded funds were trimmed to the lowest in three years..

'Banking shares brought the market down,' said a stockbroker.

'Investors are worried over gold prices as some banks have a fair exposure to pawning.'

Shares in Sampath Bank PLC closed 0.89 percent weaker at 211.60 rupees, while Hatton National Bank PLC fell 0.65 percent to 169.10 rupees.

Shares in the country's biggest listed lender, Commercial Bank of Ceylon PLC, ended flat at 113 rupees.

The main stock index fell 0.17 percent, or 9.82 points, to 5,872.43.

The turnover was at 885.3 million rupees ($7.03 million) on Monday, less than this year's daily average of 964 million rupees.

Foreign investors were net buyers of 390.7 million rupees worth of shares, extending the year-to-date net foreign inflow to 8.19 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The market hit a six-month high on Thursday on hopes of an expected fall in interest rates, after Treasury Secretary P.B. Jayasundera and the central bank said official interest rates could ease in May and June.

The rupee edged weaker for a fifth straight session to 126.65/126.85 per dollar, from Friday's close of 125.95/126.00, due to demand from importers for the greenback, currency dealers said. ($1 = 125.9600 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

(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/2013/04/22/3316337.htm?c=1&t=

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

CSE.SAS

CSE.SAS
Global Moderator
The rupee fell sharply against the US dollar on Monday (22) while the Colombo bourse closed in the red for the second consecutive day.

The rupee, opening at Rs. 125.98/126.05 against the greenback, fell sharply closing at Rs. 126.65/75.

"The rupee hit an intraday low of Rs. 126.80 against the dollar on heightened demand. An oil bill had come to the market, and also the CEB price hike drove sentiments south with expected productivity constraints," one dealer said.

Activity in the secondary market for Treasury bonds remained dull ahead of the weekly Treasury bill auction.

Excess rupee liquidity in the banking system amounted to Rs. 26.8 billion.

The Colombo bourse fell for the second consecutive day with the All Share Price Index dropping down 9.82 points to close 0.17 percent lower at 5,872.43 while the S&P SL20 closed 0.07 percent higher, gaining 2.26 points to 3,338.38.

Turnover reached Rs. 885.27 million.

Foreign purchases amounted to Rs. 414.35 million resulting in a net inflow of Rs. 390.75 million.

"The ASPI ended marginally lower for a second consecutive trading day. Turnover neared the Rs.1bn mark and was led by block trades on COMB which accounted for 40% of turnover," John Keells Stockbrokers said.

"Even though the bourse may trade sideways in the immediate term, we advise investors to carefully select bluechip stocks on price weakness which are likely to report healthy1Q2013 corporate results, as we believe that the market will see a turning point sooner than later. In this respect, we advise investors to focus on companies with largely monopolistic attributes and strong brand loyalty within sectors and sub-sectors that are both growth and resilient," DNH Financial said.

"We re-iterate the need consequently to build a solid portfolio of both value and growth stocks that have strong top line revenue growth, low debt levels and sustainable margins which we believe are likely to benefit most from the domestic demand story," it said.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=77403

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Few red day without drastic falls ( hopefully) will do good for CSE.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Net foreign inflow to the Colombo Bourse has surpassed the Rs. 8 billion mark with the past two market days seeing overseas institutional funds investing over Rs. 800 million on blue chip Commercial Bank.

Foreigners accounted for net buying of Rs. 391 million yesterday on top of Rs. 491 million on Friday. The inflows pushed the year-to-date figure to Rs. 8.4 billion by yesterday.

Brokers said Commercial Bank shares were subject to heavy institutional foreign buying by existing funds both on Friday and yesterday. Last week overall Commercial Bank saw Rs. 551 million in net buying by foreigners, followed by HNB shares worth Rs. 405 million and Pan Asia Bank worth Rs. 250 million.

The burgeoning net foreign inflows have solidified the attractiveness of the Colombo stock market on valuations even though the bulk of the locals continue to remain inactive.

The Rs. 8 billion plus net inflow is on the back of the record Rs. 39 billion enjoyed last year whilst the market was down by 8.5% in 2012. This year so far the market is up 4% though the benchmark ASI dipped for the second consecutive day yesterday.

NDB Stockbrokers said the ASPI fell for the second session in a row while posting healthy turnover levels.

“Foreign interest in Commercial Bank continued to drive market activity while Brown & Company also saw a parcel trade. Heavy activity continued in Colombo Land and Development while Agstar Fertilizer saw some activity with price volatility. Additionally, retail activity in counters such as HVA Foods and Citrus Leisure was also seen,” it added.

Softlogic Stockbrokers said: “The Colombo Bourse was trading on mixed sentiments, near a resistance area at 5,900. The benchmark index has been clustering near this area for the last few days on indecision. The ASPI lost marginally by 10 points.”

“Gains denoted on Colombo Land and Development (6.9%), National Development Bank (2.0%) and losses on Finlay Colombo (-10.0%), Selinsing (-7.7%) led the indecision tone on the benchmark index,” it added.

Softlogic said investor interest was further evident on Colombo Land and Development Company with notable onboard activity. The counter denoted several large onboard transactions, the largest being 50,000 shares which was dealt at Rs. 43.4. The counter further extended its rally with an intra-day high of Rs. 43.60 before closing at Rs. 43.40 with a gain of 7.0%.

Retail activity was also seen on HVA Foods (+6.8%), Citrus Leisure (+6.0%) and Kalpitiya Beach Resort (+15.1%), according to Softlogic Stockbrokers.

Asia Wealth Management said high-net worth participation was seen on Agstar Fertilizers where a transaction nearing four million shares pushed the counter to record the highest volume for the day.
http://www.ft.lk/2013/04/23/net-inflow-to-bourse-tops-rs-8-b-mark-as-foreigners-focus-on-combank/

shan


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Net foreign inflow to the Colombo Bourse has surpassed the Rs. 8 billion mark with the past two market days seeing overseas institutional funds investing over Rs. 800 million on blue chip Commercial Bank.

Foreigners accounted for net buying of Rs. 391 million yesterday on top of Rs. 491 million on Friday. The inflows pushed the year-to-date figure to Rs. 8.4 billion by yesterday.
Brokers said Commercial Bank shares were subject to heavy institutional foreign buying by existing funds both on Friday and yesterday. Last week overall Commercial Bank saw Rs. 551 million in net buying by foreigners, followed by HNB shares worth Rs. 405 million and Pan Asia Bank worth Rs. 250 million.
The burgeoning net foreign inflows have solidified the attractiveness of the Colombo stock market on valuations even though the bulk of the locals continue to remain inactive.
The Rs. 8 billion plus net inflow is on the back of the record Rs. 39 billion enjoyed last year whilst the market was down by 8.5% in 2012. This year so far the market is up 4% though the benchmark ASI dipped for the second consecutive day yesterday.
NDB Stockbrokers said the ASPI fell for the second session in a row while posting healthy turnover levels. “Foreign interest in Commercial Bank continued to drive market activity while Brown & Company also saw a parcel trade. Heavy activity continued in Colombo Land and Development while Agstar Fertilizer saw some activity with price volatility. Additionally, retail activity in counters such as HVA Foods and Citrus Leisure was also seen,” it added.
Softlogic Stockbrokers said: “The Colombo Bourse was trading on mixed sentiments, near a resistance area at 5,900. The benchmark index has been clustering near this area for the last few days on indecision. The ASPI lost marginally by 10 points.”
“Gains denoted on Colombo Land and Development (6.9%), National Development Bank (2.0%) and losses on Finlay Colombo (-10.0%), Selinsing (-7.7%) led the indecision tone on the benchmark index,” it added.
Softlogic said investor interest was further evident on Colombo Land and Development Company with notable onboard activity. The counter denoted several large onboard transactions, the largest being 50,000 shares which was dealt at Rs. 43.4. The counter further extended its rally with an intra-day high of Rs. 43.60 before closing at Rs. 43.40 with a gain of 7.0%.
Retail activity was also seen on HVA Foods (+6.8%), Citrus Leisure (+6.0%) and Kalpitiya Beach Resort (+15.1%), according to Softlogic Stockbrokers.
Asia Wealth Management said high-net worth participation was seen on Agstar Fertilizers where a transaction nearing four million shares pushed the counter to record the highest volume for the day.
http://www.ft.lk/2013/04/23/net-inflow-to-bourse-tops-rs-8-b-mark-as-foreigners-focus-on-combank/

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