FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» DIPD/HAYC/HAYL
by stocknoob Today at 6:55 pm

» GLAS will be winner with Super Gain.
by stocknoob Today at 6:20 pm

» Growing Fear
by Mr. X Today at 4:55 pm

» ???? අප්‍රේල් 16 ???? මේ දින 3 කෙටි සතියත් කොළපාටින් අවසන් වුනා
by Wickyz Today at 12:54 pm

» විජේදාසගේ... voice cut ප්‍රතිඵල
by Mr. X Today at 12:40 pm

» LDEV LDEV LDEV
by Eranga87 Today at 10:27 am

» No trader can flee from making a mistake. It’s just that you need to be careful about not repeating your mistakes.
by Mithooshan Today at 7:42 am

» Daily Foreign Transactions
by Pradeep90 Yesterday at 8:33 pm

» SWISSTEK (CEYLON) PLC (PARQ.N0000)
by Chithi Yesterday at 7:45 pm

» ROYAL CERAMICS PLC (RCL.N0000)
by Jana Yesterday at 6:14 pm

» US dollar trading lower, euro near new high
by target1 Yesterday at 1:38 pm

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Equity Win Yesterday at 1:23 pm

» LANKEM DEVELOPMENTS PLC (LDEV.N0000)
by Thushara Ayya Yesterday at 11:59 am

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Eranga87 Sun Apr 18, 2021 4:12 pm

» CIC HOLDINGS PLC (CIC.N0000)
by abey Sat Apr 17, 2021 9:07 pm

» First capital holdings CFVF.N0000
by invest thinker Sat Apr 17, 2021 4:46 pm

» Lanka Walltile PLC Investment Case
by judecroos Sat Apr 17, 2021 8:55 am

» Which is the best at current market condition ? ( At least 30% within 30 Days)
by judecroos Sat Apr 17, 2021 8:39 am

» Big opportunity in Kegalle Plantations
by EquityChamp Fri Apr 16, 2021 2:58 pm

» If you buy a stock that’s not going up in price, you won’t make any money. STOCK market for beginners
by dayandacool Fri Apr 16, 2021 11:31 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Bourse gathers momentum on small cap play

Bourse gathers momentum on small cap play

Go down  Message [Page 1 of 1]

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
LSL Weekly Market Review – w/e 27 Sep 2013

Colombo Stock market began the trading for the fresh week on Monday and closed in red where, index failed to maintain the momentum gained on last Friday (20th Sep) in respect of Fed’s policy decision. ASPI declined by 31.26 points (-0.54%) and S&P SL 20 Index ended declined by 11.37 points (-0.08%). Daily market turnover was LKR 486mn. HNB (LKR 84mn), Chevron Lubricants (LKR 83mn), John Keells Holdings (LKR 79mn) and Commercial Bank (LKR 46mn) were the top contributors to the market turnover. Meanwhile Dankotuwa Porcelain, PC House, John Keells and Touchwood were among the mostly traded stocks for the session.  Foreign participation for the day was 40% whereas foreign investors were net buyers with a net inflow of LKR 9mn.

On Tuesday market ended with positive results as several banking and finance sector stock prices moved up along with other several high cap stocks. Broad market index gained 11.62 points (+0.20%) and S&P SL 20 Index gained 8.07 points (+0.25%). Daily market turnover was LKR 817mn. John Keells Holdings topped the turnover list with LKR 239mn followed by Sampath Bank (LKR 147mn) and Commercial Bank (LKR 67mn). With the appointment of two new Directors namely MP deleted Silva and Mr.L.W Kiwlegedara, Touchwood Investment emerged as the mostly traded stock as well as the top gainer of the day. Further, Central Investment & Finance and Seylan Merchant non-voting traded heavily during the day. Foreign participation was 40% of the total market activity whilst net buying was LKR 242mn.

Colombo Stocks closed with losses on Wednesday as ASI and S&P SL 20 Index lost 10.85 points and 8.82 points respectively. Daily market turnover was LKR 583mn. John Keells Holdings topped the turnover list with LKR 267mn. Touchwood Investments with LKR 96mn followed by Central Investment and Finance with LKR 26mn were recorded the next top turnover levels with heavy trading. Apart from that Dankotuwa Porcelain and John Keells Holdings were among the mostly traded stocks during the day. Foreign participation was 39% whilst foreign investors were net buyers with a net inflow of LKR 112mn.

On Thursday stock market closed with positive return on both indices. ASI increased marginally by 2.54 points and S&P SL 20 Index increased by 13.61 points (+0.42%). Market turnover was LKR 920mn. Sampath Bank recorded the top turnover of LKR 219mn closely followed by Touchwood Investments (LKR 204mn) and Commercial Bank (LKR 118mn). Touchwood Investment was the heavily traded stock and emerged as the top gainer for the day. Subsequent to the AGM of Touchwood Investments held on Thursday the rumors spread regarding the cash infusion to the company and the stock soared to the high of LKR 5.20 and closed at LKR 5.00, up by LKR 1.70 (+52%). Further, Central Investment & Finance and Asia Assets Finance traded heavily and ended among the top gainers. Foreign participation was 16% whilst net inflow was LKR 233mn.

Market closed the operations for the week on Friday with mixed results. ASI advanced by 22.46 points (+0.39%) and closed at 5,808.62 while S&P SL 20 Index dropped marginally by 8.79 points (-0.27%) and closed at 3,210.30. Price appreciations in LOLC group related companies such as Lanka Orix Leasing by 6.7% to close at LKR 59.00, Lanka Orix Finance by 10.7% to close at LKR 3.10 and Commercial Leasing by 5.3% to close at LKR 4.00 contributed positively to the ASI performance while price declines in John Keells Holdings by 1.8% to close at LKR 218.60, Nestle by 2.1% to close at LKR 1,949.00 and Carsons Cumberbatch by 3.5% to close at LKR 376.10 contributed negatively towards the S&P SL 20 Index performances.
Market turnover was LKR 409mn. Piramal Glass recorded the highest turnover of LKR 59mn with 11.3mn shares traded closely followed by John Keells Holdings with LKR 58mn and Commercial Bank with LKR 33mn. No off-the-floor deals were executed during the day.

During the pre-trading session CSE imposed a trading halt on Touchwood Investments.  The company announced that Mr. and Mrs. Meloney stepped down from the positions of Chairman and Vice Chairperson/CEO respectively and newly appointed Mr. Kiwlegedara resigned from the position of Acting CEO and was appointed as the Chairman.

Asia Assets Finance, Amana Takaful and PC House were the heavily traded stocks during the day. Foreign participation for the day was 16% whilst net foreign buying was LKR 91mn. Foreign investors were net buyers where net inflows were seen in John Keells Holdings (LKR 49mn), Commercial Bank (LKR 32mn) and Distilleries (LKR 10mn). Cash map closed at 53%.

During the week both benchmark indices closed with no significant changes but ended lower compare to the last week. Market cap decreased marginally by LKR 3bn. Total net foreign inflow to the equity market was LKR 688mn while the foreign participation was 30% of the total weekly turnover. Meanwhile year-to-date net foreign inflow stood at LKR 19.3bn. Individual investors were relatively active throughout the week in the backdrop of several events in some counters, mainly Touchwood Investments. The speculation helped the Touchwood share price to gain 182% during the last five days and closed the week as the top gainer followed by CIFL (+75%WoW). The increased participation drove the average daily trading volume to 68mn, an increase of 106%WoW.

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Colombo bourse commenced the week on a negative note, whilst the indices witnessed high volatility throughout the week and ended the week on a marginal WoW dip. The ASI lost 5.5 points WoW to close at 5,808.6 points (-0.1%), whilst the S&P SL20 Index lost 7.3 points WoW to close at 3,210.3 points (-0.2%). Indices lost mainly on the back of losses made by Carson Cumberbatch (-6.0% WoW), Ceylon Tobacco Company (-1.4% WoW), Nestle Lanka (-2.6% WoW), Asian Hotels and Properties (-4.9% WoW) and Sri Lanka Telecom (-1.7% WoW).

The bourse failed to sustain the sharp gains accrued last Friday after the US Fed’s surprise move to extend the QE as counters across the board lost ground. However, several small cap stocks including speculative stocks such as Touchwood, Central Investments and Finance and PC House advanced heavily towards the latter part of the week. Accumulation continued on Touchwood which witnessed its price soar more than 190% during the week after the hype created subsequent to an announcement regarding change in directorate, amidst pending Court cases, SEC investigation and concerns over corporate governance. Meanwhile, the CSE imposed a trading halt on Touchwood on Friday over a pending disclosure from the company regarding media reports. Despite these small counters rallying on speculation and dominating the market activities in terms of turnover and volume, foreign investors became net buyers during the week from net sellers during last week, focusing on blue chip counters including selected banking sector counters. Perhaps, US Fed’s decision to hold off the scaling down of stimulus measure would have partly resulted in foreign investors retaining and taking positions in Sri Lankan market.

Meanwhile, the IMF released a statement during the week indicating that it has revised the country’s economic growth forecast up for 2013E to 6.5% from 6.3%, however it continues to be below the CBSL’s forecast of 7.5%.

During the course of the week crossings contributed c. 22% towards the week’s turnover where counters such as John Keells Holdings, Chevron Lubricants, Commercial Bank, Hatton National Bank, Sampath Bank and Lanka IOC encountered crossings. Furthermore, Touchwood, Central Investments and Finance, PC House, Asia Asset Finance and Piramal Glass topped the list in terms of volume traded during the week.

The week saw foreign purchases amounting to LKR 1,307.7 mn whilst foreign sales amounted to LKR 619.8 mn. Market capitalisation stood at LKR 2,392.3bn and the YTD performance is 2.9%.

Conclusion: Looming US Fed’s decision to impact local equity market?
Indices were on a roller-coaster ride during the week, whilst retail investor interest was skewed more towards small cap counters. In addition, institutional and foreign interest was fixed on few index heavy weights, amongst which the Banking and Finance sector reported few notable transactions.

Meanwhile the week ended with foreigners becoming net buyers, which could in turn persuade the local investor community to build up confidence on the local market.

However, sustainability of such confidence also relies on positive macro-economic factors locally as well as globally. The IMF recently stated that the country should keep the policy rates on hold and to make structural changes such as tariff reforms, improve local business climate and enhance revenue collection in order to support capital expenditure to boost growth in the country. IMF also revised the estimated economic growth rate up for 2013E to 6.5% from 6.3%, which is relatively lower than that of the Central Bank’s target rate of 7.5%. Further, IMF also indicated that the possible scaling down of the US Fed’s monetary stimulus in the coming months could bring about a slowdown/reversal of inflows, since foreign investors tend to pull out money from the emerging markets in fear under these circumstances.

On the back of these developments, we continue to advise investors to take positions in fundamentally strong stocks, trading at attractive multiples to minimize risk from high volatility.
Source: Asia wealth Management Research

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
To read the full report -
http://research.srilankaequity.com/t835-27-09-2013-weekly-review-asia-wealth-management-co-ltd

sriranga

sriranga
Co-Admin
Bourse gathers momentum on small cap play  Z_p-5210
http://www.sundayobserver.lk/2013/09/29/fin52.asp

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

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum