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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka stocks recovers on retail, foreign buying

Sri Lanka stocks recovers on retail, foreign buying

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sriranga

sriranga
Co-Admin

COLOMBO, May 22 (Reuters) - Sri Lankan shares recovered on Wednesday on thin volume as retail investors bought mid caps, prompted by a fall in interest rates, while foreign investors preferred banking shares, dealers said.

The main stock index rose 0.31 percent, or 19.98 points, to close at 6,461.62.

'It was retail driven,' said a stockbroker on condition of anonymity.

Market turnover was 766.2 million rupees ($6.06 million) on Wednesday, less than this year's daily average of 1.05 billion rupees.

Foreign investors were net buyers of shares worth of 308.4 million rupees, extending net foreign inflows this year to 12.87 billion rupees.

The market 14-day Relative Strength Index (RSI) was in over-bought territory of 86.114 on Wednesday and has been above

the upper neutral level of 70 since April 16, Thomson Reuters data showed.

'Retailers are thinking that the market is not over heated yet and they will take the market to a different level. We see the resistance level at 6600 points,' the stockbroker said.

The bourse has gained 3.57 percent since the central bank cut key policy rates by 50 basis points on May 10, following some of its regional peers, to boost economic growth amid subdued demand.

A fall in interest rates of fixed income assets has helped boost sentiment in the share market as retail investors, who dominate the island nation's bourse in terms of volume, shift to equities from government securities.

The rupee ended steady at 126.25/30 in dull trade, currency dealers said.

($1 = 126.4000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anand Basu)

(ranga.sirilal@thomsonreuters.com ;+94-11-232-5540; Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net; twitter.com/rangaba)
http://www.xe.com/news/2013/05/22/3364077.htm

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

2Sri Lanka stocks recovers on retail, foreign buying Empty Sri Lanka stocks close up 0.3-pct Wed May 22, 2013 6:00 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

May 22, 2013 (LBO) – Sri Lanka’s stock closed up 0.31 percent on Tuesday with market driven by heavy interest in the property sector and retail trading, brokers said.

The benchmark Colombo All Share Index closed 19.98 points higher at 6,461.62 and the S&P SL 20 Index closed 08.71 points higher at 3,669.65 up 0.08 percent.

Turnover was 767 miliion rupees down from 2.1 billion rupees day earlier. 100 stocks contributed positively to the index while 97 were negative.

Foreigners brought 766 million rupees worth shares while selling 47 million rupees of shares.

Top contributors The Lion Brewery gained 39.10 rupees to close at 425.60 rupees, NDB Capital Holdings closed at 493.00 rupees up 80.10 rupees and Ceylon Tobacco Company gained 10.70 rupees to close at 909.90 rupees.

Heavy interest in property sector was recorded by C T Land development which gained 80 cents to close at 29.20 rupees and Colombo Land & Development gaining 1.60 rupees to close at 52.00 rupees. Overseas Realty closed at 19.00 rupees up 20 cents.

Hatton National Bank closed flat at 173.00 rupees, DFCC Bank closed at 149.10 rupees up 1.00 rupees, National Development Bank closed at 175.80 rupees down 2.50 cents and Commercial Bank of Ceylon closed at 124.90 rupees down 40 cents.

Pan Asia closed at 20.90 rupees up 10 cents. Union Bank of Colombo closed at 19.80 rupees up 10 cents and Sampath Bank gained 70 cents to close at 224.60 rupees.

LB Finance closed at 128.10 rupees up 1.10 rupees, Peoples Leasing and Finance closed flat at 15.10 rupees and Commercial Leasing and Finance closed at 4.60 rupees down 10 cents.

Distilleries Company of Sri Lanka gained 6.00 rupees to close 196.10 rupees.

Index heavy John Keells Holding which was a negative contributor today lost 1.90 rupees to close at 295.10 rupees while Nestle Lanka gained 18.00 rupees to close at 2028.00 rupees.

Aitken Spence closed at 138.80 up 3.30 rupees. Browns Investments closed flat at 3.50 rupees.

Softlogic Holding closed flat at 12.00 rupees and Vallibel One closed at 20.10 rupees down 10 cents.

Dialog Axiata lost 20 cents to close at 9.70 rupees and Sri Lanka Telecom closed at 43.10 down by 20 cents.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-up-0.3-pct/958789688

3Sri Lanka stocks recovers on retail, foreign buying Empty Bourse down 0.31% Thu May 23, 2013 1:52 am

sriranga

sriranga
Co-Admin

The All Share Price Index (ASPI) gained 0.31 percent on Wednesday amidst a drop in activity levels with trades in Com Bank, Cargills and Sampath Bank accounting for over 44 percent of the day’s turnover.

The ASPI gained 19.98 points to close at 6,461.62 while the S&P SL20 closed 3.04 points higher at 3,663.98.

Turnover amounted to Rs. 766.21 million.

Foreign purchases amounted to Rs. 356.39 million, leading to a net inflow of Rs. 308.42 million.

"The ASPI ended higher amid a drop in activity levels, with block trades on COMB and CARG accounting for over 30 percent of turnover," John Keells Stockbrokers said.

"Following yesterday’s profit taking, the market edged up today albeit modestly, with the ASPI rising by 0.3 percent to end the session at 6,462. Turnover recorded Rs. 766 million with trading in Commercial Bank, Cargills and Sampath Bank accounting for 44 percent of the day’s total. Gainers outpaced losers with SMB Leasing(X), Serendib Land, NDB Capital rising by 25.0 percent, 21.4 percent and 19.4 percent and offsetting declines in Ceylon Printers, Hapugastenne Plantations and Associated Motor Finance which fell by 12.9 percent, 10.7 percent and 10.1 percent respectively," DNH Financial said.

Com Bank saw more than 1.5 million shares change hands during the day, closing 0.32 percent lower Rs. 124.9 while Cargills closed flat at Rs. 175 after a little more than five hundred thousand shares changed hands. Sampath Bank saw 237 thousand shares trade during the day before closing at Rs. 224.60, down 0.31 percent.

Serendib Land was the biggest gainer, up 21.43 percent to close at Rs. 1,700 followed by NDB Captial Holdings which closed 19.40 percent higher at Rs. 493.

Chilaw Finance was the biggest loser, down 21.7 percent to Rs. 1.80.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=79620

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

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