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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » S&P holds its ground but bourse closes in the red

S&P holds its ground but bourse closes in the red

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sriranga

sriranga
Co-Admin
COLOMBO, Sept 6 (Reuters) - Sri Lankan stocks weakened for a fifth straight session on Friday to touch a six-month closing low, with shares in large-caps such as Ceylon Tobacco Plc leading the fall amid concern over rupee depreciation, traders said.

The main share index fell 0.25 percent, or 14.35 points, to close at 5,672.64, its lowest close since March 6. It has fallen 2.8 percent over the last five sessions, mainly due to concerns over the rupee which hit a record low last week.

'The rupee depreciation will not encourage any foreigners to invest in shares. It will also increase the cost of many companies as most of the inputs are imported,' a stockbroker said.

The rupee traded little changed on Friday and dealers said the central bank had directed the market not to trade the currency beyond a certain level, but it remained under downward pressure.

The currency had hit an all-time low last week on panic buying by importers, but has recovered since then.

The bourse is at an oversold territory, with the 14-day Relative Strength Index on Friday at 25.688, below its lower neutral level of 30, Thomson Reuters data showed.

Shares in Ceylon Tobacco fell 3.79 percent to 1,116.60 rupees, while top conglomerate John Keells Holdings Plc fell 0.57 percent to 209.40 rupees.

Friday's turnover was 249.3 million rupees ($1.87 million), less than a third of this year's daily average of about 889.6 million rupees.

Foreign investors were net sellers for the third straight session, selling 3.38 million rupees worth of shares, but they have been net buyers of 18.49 billion rupees in stocks so far this year.

($1 = 133.0500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Jijo Jacob)

(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/2013/09/06/3533537.htm

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Except for JKH, market virtually dead says brokers

The Colombo bourse closed in the red yesterday with the S&P SL20 index holding its ground by losing only a fraction of a point while the ASPI lost 14.35 points (0.25%) on a modest turnover of Rs.239.3 million, down from the previous day’s Rs.485.7 million, with 103 gainers outpacing 77 losers while 134 counter closed flat.

"Except for JKH where there was a crossing of 440,000 shares at Rs.210 per share in a deal worth Rs.92.4 million and floor trades worth Rs.33.2 million, as well as some modest trades in few other counters, the market was virtually dead," a broker said.

"The ASPI ended lower for a fifth consecutive day amid low activity levels dominated by trades on JKH which accounted for over 50% of market turnover, inclusive of crossings," John Keells Stock brokers said in a market report.

There was a small foreign outflow of Rs. 3.38 million with sales worth Rs. 108.32 million against purchases of Rs. 104.94 millon.

Among the other counters that showed some activity in value terms were Chevron, down Rs.2.80 to Rs.255 on 31,962 shares, Peoples Leasing, down 20 cents to Rs.13.50 on over 0.5 million shares, Central Finance closing flat at Rs.183 on 35,886 shares and Union Bank closing flat at Rs15.50 on nearly 0.4 million shares.

John Keells Holdings announced that a general meeting to authorize provisional allotment of nearly 132 million new shares in its announced 2 for 13 rights issue at Rs.175 per share would be held on Oct. 2.

Provisional letters of allotment will be dispatched on Oct. 9 and trading of rights will begin on Oct. 15. Renunciation will be on Oct. 24 and the last date for payment will be Oct. 25.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=87419

dhanurrox


Vice President - Equity Analytics
Vice President - Equity Analytics
@Redbulls wrote:Except for JKH, market virtually dead says brokers

The Colombo bourse closed in the red yesterday with the S&P SL20 index holding its ground by losing only a fraction of a point while the ASPI lost 14.35 points (0.25%) on a modest turnover of Rs.239.3 million, down from the previous day’s Rs.485.7 million, with 103 gainers outpacing 77 losers while 134 counter closed flat.

"Except for JKH where there was a crossing of 440,000 shares at Rs.210 per share in a deal worth Rs.92.4 million and floor trades worth Rs.33.2 million, as well as some modest trades in few other counters, the market was virtually dead," a broker said.

"The ASPI ended lower for a fifth consecutive day amid low activity levels dominated by trades on JKH which accounted for over 50% of market turnover, inclusive of crossings," John Keells Stock brokers said in a market report.

There was a small foreign outflow of Rs. 3.38 million with sales worth Rs. 108.32 million against purchases of Rs. 104.94 millon.

Among the other counters that showed some activity in value terms were Chevron, down Rs.2.80 to Rs.255 on 31,962 shares, Peoples Leasing, down 20 cents to Rs.13.50 on over 0.5 million shares, Central Finance closing flat at Rs.183 on 35,886 shares and Union Bank closing flat at Rs15.50 on nearly 0.4 million shares.

John Keells Holdings announced that a general meeting to authorize provisional allotment of nearly 132 million new shares in its announced 2 for 13 rights issue at Rs.175 per share would be held on Oct. 2.

Provisional letters of allotment will be dispatched on Oct. 9 and trading of rights will begin on Oct. 15. Renunciation will be on Oct. 24 and the last date for payment will be Oct. 25.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=87419
S&P holds its ground but NEST,CTC managed to close bourse in the red
Some members managed to highlight this.

http://forum.srilankaequity.com/t27705p150-pivot-point-indicator#180602

http://forum.srilankaequity.com/t30621-crap-market

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