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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Market’s value soars by Rs. 42 b as ASI hits 17-month high

Market’s value soars by Rs. 42 b as ASI hits 17-month high

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sriranga

sriranga
Co-Admin
COLOMBO, May 6 (Reuters) - Sri Lankan shares hit a 17-month closing high on Monday, led by blue chips such as conglomerate John Keells Holdings, with retail investors buying select shares on expectations of a rate cut at the central bank's policy meeting this week.

The day's turnover hit its highest in seven months, boosted by block deals in Lanka Ceramic PLC.

The main stock index rose 1.8 percent, or 107.99 points, to 6,121.17, its highest close since Dec. 1, 2011.

Shares have been rising on expectations of a fall in interest rates after Treasury Secretary P.B. Jayasundera and the central bank said interest rates could ease in May-June.

The International Monetary Fund said on Thursday Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices had risen at a slower pace in April than the previous month.

The market has gained 5.95 percent since the treasury secretary's comments on April 9.

'Retail and high networth investors pushed the market on hopes of falling interest rates,' said an analyst.

Shares in market heavyweight John Keells Holdings rose 2.93 percent to 260.20 rupees a share.

Shares in Lanka Ceramic PLC, which pushed the day's turnover on a block deal, jumped 50 percent to 120 rupees a share.

Royal Ceramics Lanka PLC, which rose 3.40 percent to 100.50 rupees a share, said in a filing with the bourse it bought 22.83 million shares of Lanka Ceramic in a price range of 86.90 rupees to 120 rupees.

The turnover was 4.14 billion rupees ($32.79 million), well above this year's daily average of 963.9 million rupees, and the highest since Sept. 16, 2012.

Foreign investors were net buyers of 28.22 million rupees of shares, extending the net foreign inflow so far this year to 8.96 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The rupee ended at 126.40/50 per dollar, weaker from Friday's close of 126.30/40, on importer dollar demand, said currency dealers.

($1 = 126.2500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

(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/2013/05/06/3337797.htm?c=1&t=

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

Redbulls

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

May 06, 2013 (LBT) - Bourse depicted a strong uptrend: The benchmark index denoted a strong upward climb with strong institutional and retail participation carrying the turnover across the LKR4.0 bn mark, the highest since 26.09.2012. Gains recorded in heavy caps; John Keells Holdings (+2.9%), Nestle Lanka (+3.4%) Distilleries (+3.9%) coupled with Commercial Leasing (+6.5%) and Ceylon Cold Stores (+13.1%) weighted positively on the index to record the highest intra-day gain since 14.09.2012. The S&P SL20 gained 55 points extending its YTD gain to 12.2%.

Lanka Ceramics defined the market story: Lanka Ceramics spearheaded the day’s turnover contributing 78%, led by Royal Ceramics acquiring a controlling stake of 76.11% in the company. A block of 19.9 mn shares was transacted in the counter at a 52-week high price of LKR120.0 followed by a block of 1 mn shares which was crossed off at a similar price. Related Companies; Vallibel One and Lanka Walltiles too encountered renewed interest with each recording intra-day gains of 9.6% and 8.2% respectively.

S&P SL20 caliber underscores significant gains: John Keells Holdings contributed heavily to index performance touching a new 52-week high of LKR262.0 amidst notable on-board participation while key dividend players; Nestle Lanka and Chevron Lubricants Lanka attracted strong buying interest as they traded at 52-week high levels of LKR1,898.5 and LKR255.0. Banking sector activity highlighted National Development Bank which saw an intra-day gain of 2.6% at LKR175.5 while Dialog Axiata encountered renewed interest appreciating 4.2% to a new 52-week high of LKR9.9 today. Retailer participation strengthened with positive momentum: Amidst the upward momentum of the bourse, retail activity strengthened with notable focus on Nations Lanka Finance, Touchwood Investments and Central Investments & Finance while interest in Textured Jersey Lanka and Piramal Glass prevailed.
http://lbt.lk/stock-market

3Market’s value soars by Rs. 42 b as ASI hits 17-month high Empty Market up 06 May 2013 Mon May 06, 2013 8:04 pm

lankastocks


Stock Analytic
Stock Analytic
Sri Lanka Stock Market show positive end in trading, All Share Price Index increased by 108 points (1.8%) and S&P SL20 index also increased by 55 points and (1.62%) Turnover 4136.

Royal Ceramics bought 22.8 million shares amounting to 76% of Lanka Ceramic PLC held by CT holding at a price of Rs.120 per share.

http://www.lankastocks.com

CSE.SAS

CSE.SAS
Global Moderator

Apr 29, 2013 (LBO) – Sri Lanka’s stock surged up 1.8 percent Monday adding 40 billion rupees to stock values partly helped improved sentiment from a 2.9 billion rupee ceramic sector acquisition, brokers said.

The benchmark Colombo All Share Index closed 107.99 points higher at 6,121.17 up 1 and the S&P SL 20 Index closed 55.138 points higher at 3,461.12 up 1.62 percent.

Foreign investors purchased 123 million rupees of shares and sold 94 million rupees worth in a day that saw 166 stocks advancing and 58 retreating.

Turnover rose to 4.1 billion rupees from 881 million rupees a day earlier following 2.9 billion rupees acquisition of Lanka Ceramics Plc by Royal Ceramics.

Lanka Ceramic gained 40.00 rupees to close at 120.00 rupees.

Royal Ceramic Closed at 100.50 rupees up 3.30 rupees. Lanka Ceramic units, Lanka Wall Tiles gained 4.00 rupees to close at 65.00 rupees and Lanka Floor Tiles closed at 69.00 rupees up 4.00 rupees.

Brokers said the passing of a 6,000 point psychological barrier in the benchmark index may also have helped push stocks to a 16 months high. The Colombo All Share Index was at 6,140 on November 11, 201221.

Commercial Bank of Ceylon gained 1.30 rupees to close at 117.90 rupees. Hatton National Bank closed at 168.50 rupees down 0.90 rupees.

Pan Asia closed at 21.00 rupees up 0.10 rupees. Union Bank of Colombo closed at 19.40 rupees up 0.30 rupees.

DFCC Bank gained 0.80 rupees to close at 143.50 rupees. Sampath Bank closed at 217.10 rupees up 1.10 rupees.

Commercial Leasing and Finance gained 0.30 rupees to close at 4.90 rupees.

The stock exchange said top contributors to the index gain was John Keells Holdings which closed up 7.40 rupees at 260.20, Nestle Lanka which closed up 61.10 rupees at 1,885.10 and Distilleries which rose 6.80 to close at 179.40 rupees.

Ceylon Tobacco Company gained 1.00 rupee to close at 821.00 rupees Dialog Axiata closed at 9.70 rupees up by 0.20 rupees. The Lion Brewery Ceylon closed at 364.90 rupees down 0.40 rupees

Aitken Spence closed at 128.70 up 3.70 rupees.

The market traded at 16.5 times historical earnings and stock values rose 40 billion rupees to 2,346 billion rupees.
http://www.lankabusinessonline.com/news/Sri_Lanka_stocks_surge_1.8-pct/1599674231

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The acquisition of Lanka Ceramics by Dhammika and Nimal duo along with continuity in recent rebound in investor sentiments saw the Colombo Bourse’s value rise by Rs. 42 billion yesterday.

Softlogic Stockbrokers said the Bourse depicted a strong uptrend with the benchmark index showing a strong upward climb, with strong institutional and retail participation carrying the turnover across the Rs. 4 billion mark, the highest since 26 September 2012.

Gains recorded in heavy caps John Keells Holdings (+2.9%), Nestle Lanka (+3.4%) Distilleries (+3.9%) coupled with Commercial Leasing (+6.5%) and Ceylon Cold Stores (+13.1%) weighted positively on the index to record the highest intra-day gain since 14 September 2012. The main stock index rose 1.8% or 107.99 points, to 6,121.17, its highest close since 1 December 2011. The S&P SL20 gained 55 points, extending its YTD gain to 12.2%.

John Keells Holdings contributed heavily to index performance touching a new 52-week high of Rs. 262.0 amidst notable on-board participation while key dividend players; Nestle Lanka and Chevron Lubricants Lanka attracted strong buying interest as they traded at 52-week high levels of Rs. 1,898.5 and Rs. 255.

Banking sector activity highlighted National Development Bank which saw an intra-day gain of 2.6% at Rs. 175.5 while Dialog Axiata encountered renewed interest appreciating 4.2% to a new 52-week high of Rs. 9.9.

Retailer participation strengthened with positive momentum. Amidst the upward momentum of the Bourse, retail activity strengthened with notable focus on Nations Lanka Finance, Touchwood Investments and Central Investments & Finance, while interest in Textured Jersey Lanka and Piramal Glass prevailed.
http://www.ft.lk/2013/05/07/markets-value-soars-by-rs-42-b-as-asi-hits-17-month-high/

sahan8896


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The acquisition of Lanka Ceramics by Dhammika and Nimal duo along with continuity in recent rebound in investor sentiments saw the Colombo Bourse’s value rise by Rs. 42 billion yesterday.

Softlogic Stockbrokers said the Bourse depicted a strong uptrend with the benchmark index showing a strong upward climb, with strong institutional and retail participation carrying the turnover across the Rs. 4 billion mark, the highest since 26 September 2012.
Gains recorded in heavy caps John Keells Holdings (+2.9%), Nestle Lanka (+3.4%) Distilleries (+3.9%) coupled with Commercial Leasing (+6.5%) and Ceylon Cold Stores (+13.1%) weighted positively on the index to record the highest intra-day gain since 14 September 2012. The main stock index rose 1.8% or 107.99 points, to 6,121.17, its highest close since 1 December 2011. The S&P SL20 gained 55 points, extending its YTD gain to 12.2%.
John Keells Holdings contributed heavily to index performance touching a new 52-week high of Rs. 262.0 amidst notable on-board participation while key dividend players; Nestle Lanka and Chevron Lubricants Lanka attracted strong buying interest as they traded at 52-week high levels of Rs. 1,898.5 and Rs. 255. Banking sector activity highlighted National Development Bank which saw an intra-day gain of 2.6% at Rs. 175.5 while Dialog Axiata encountered renewed interest appreciating 4.2% to a new 52-week high of Rs. 9.9.
Retailer participation strengthened with positive momentum. Amidst the upward momentum of the Bourse, retail activity strengthened with notable focus on Nations Lanka Finance, Touchwood Investments and Central Investments & Finance, while interest in Textured Jersey Lanka and Piramal Glass prevailed.

http://www.ft.lk/2013/05/07/markets-value-soars-by-rs-42-b-as-asi-hits-17-month-high/

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
i like the last para. Very Happy
wanting this momentum to carry on....for few more days till about ASI reaching 6400 psychologically.

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