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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Net foreign inflows to stock market top Rs. 20 b mark

Net foreign inflows to stock market top Rs. 20 b mark

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1Net foreign inflows to stock market top Rs. 20 b mark Empty Sri Lanka stocks down, rupee stronger Tue Oct 01, 2013 4:53 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Oct 01, 2013 (LBO) - Sri Lanka's stocks closed 0.39 percent lower and the rupee gained against the US dollar on export conversions and dollar sales by foreign banks, dealers said.

The benchmark Colombo All Share Price Index closed 22.49 points lower at 5,780.83, down 0.39 percent and the S&P SL20 closed 3.48 points lower at 3,213.87, down 0.11 percent.

Turnover was Rs. 1.28 billion according to provisional data, up from 750.85 million the previous day, with shares of 66 firms gaining against 116 losing.

Foreigners bought shares worth 439.08 million rupees, up from 165.68 million rupees the previous day, and sold 49.25 million worth of shares, up from 18.5 million rupees.

Troubled Touchwood, closing 2.00 rupees lower at 3.10 rupees saw a little more than 21 million shares change hands and CIFL, closing 20 cents lower at 1.10 rupees saw a more than 3.4 million hands change hands.

Nestle Lanka closed 63.40 rupees lower at 1,900.90 rupees and Asian Hotels and Properties closed 4.10 rupees lower at 67.90 rupees.

CTC closed 5.00 rupees lower at 1,045.00 rupees and Sri Lanka Telecom closed 50 cents lower at 38.70 rupees.

Bukit Darah closed 7.00 rupees lower at 665.00 rupees.

JKH closed one rupee higher at 219.00 rupees and featured in two crossings.

Ceylinco Insurance closed 35.60 rupees higher at 1,290.00 rupees. Commercial Leasing and Finance closed 10 cents higher at 4.00 rupees.

Sampath Bank closed 2.10 rupees higher at 172.00 rupees and featured in four crossings. Asiri Hospital closed 30 cents higher at 15.10 rupees.

The rupee appreciated against the US dollar in late trading at 131.50/60, strengthening from an opening position of 132.00/05 in the spot market.

Export conversions and dollar sales by foreign banks saw the rupee gain against the US dollar amidst thin volumes, dealers said.

The central bank prevented the rupee from appreciating on a large dollar inflow by purchasing the forex and generating liquidity but has since mopped up some of the liquidity.

By permanently mopping up liquidity through outright sell downs of its Treasuries portfolio, the central bank strengthen the rupee further by reducing future demand and imports.

The more liquid five year Treasury bond yield moved up to 11.72/76 percent in late trading, up from an opening position of 11.63/75 percent.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-down,-rupee-stronger/1823259672

sriranga

sriranga
Co-Admin
COLOMBO, Oct 1 (Reuters) - Sri Lankan stocks edged down for a second day on Tuesday to hit a near two-week low as investors sold select large-cap shares such as Nestle Lanka Plc, but foreign inflows limited the falls.

The main share index fell 0.39 percent, or 22.49 points, to close at 5,780.83, its lowest since Sept. 18. It hit a one-week high on Friday.

Foreign investors were net buyers of 389.8 million rupees ($2.95 million) worth of shares on Tuesday, extending net foreign inflows over the past nine days to 1.69 billion rupees.

The foreign inflows so far this year surpassed 20 billion rupee mark, recording 20.33 billion rupees on Tuesday.

Shares in Nestle Lanka declined 3.22 percent to 1900.90 rupees, while Ceylon Tobacco Co Plc fell 0.48 percent to 1045.00 rupees.

Tuesday's turnover was 1.28 billion rupees, above this year's daily average of about 876.6 million rupees.

($1 = 132.0000 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/rangab a)
http://www.xe.com/news/2013/10/01/3577873.htm?c=1&t=

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Proving doom and gloom casters wrong, foreign portfolio investment into listed companies via the Colombo stock market yesterday crossed the Rs. 20 billion mark year-to-date, though sentiments of locals remain indifferent.

The Colombo Stock Exchange (CSE) saw a fresh net infusion of Rs. 390 million of foreign investments, bringing the total year-to-date to Rs. 20.3 billion. The healthy inflows are on top of record Rs. 39 billion enjoyed last year.

Robust and persistent inflows of Rs. 59 billion (between 2012 and 1 October 2013) are greater than the Rs. 45 billion outflow the CSE suffered in 2010 (Rs. 26.3 billion) and 2011 (Rs. 19 billion).

Most analysts expect foreign portfolio investment to remain resilient as discerning foreign funds continue to see value in select Lankan equities.

Favourite of foreign funds JKH saw net buying of Rs. 178 million whilst eChannelling attracted Rs. 152 million). Distilleries and Textured Jersey saw an infusion of Rs. 15 million and Rs. 14 million respectively.
Last week Sampath Bank saw net foreign buying of Rs. 216 million and JKH’s draw was Rs. 215.5 million, whilst Commercial Bank attracted Rs. 181 million along with Rs. 61 million by HNB.

Whilst foreigners remain bullish, local investor sentiments remain lacklustre.

The ASI dipped by 22 points and S&P SL 20 Index marginally by four points. Year-to-date ASI’s return is 2.4% whilst that of S&P SL 20 is 4%.

Apart from deals on JKH and eChanneling, local buying on Sampath Bank boosted turnover to Rs. 1.28 billion.

Sampath Bank saw 3.28 million of its shares traded for Rs. 558.5 million including five crossings worth 2.5 million shares at Rs. 170 each. The counter closed at Rs. 172, up by 1.2%.

NDB Stockbrokers said indices came down primarily due to price losses seen in Nestle Lanka and Asian Hotels & Properties.
http://www.ft.lk/2013/10/02/net-foreign-inflows-to-stock-market-top-rs-20-b-mark/

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
True. Some of them

JKH
NTB
DIST
COMB
NTB
LFIN
ECL
NDB

bullrun

bullrun
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
If we now jump and buy the counters which foreigners purchased during the past there will be a disaster since a chance is there to book profit by them. Then once again we will be get caught. It is better to find sound counters where the foreigners have not yet stepped.
Don't go after gambling. You should think about the counters where you can expect profit at least in future.

"Try to be lead rather than following".

I was so frustrated about investing in some counters due to price fall. But I did not move away. Collected little by little reducing my average cost. Now I have booked a handsome profit from a counter stagnated for long period. The profit I got will never be able to get by investing any scheme of any bank.

But my friend earned very high return by money lending on daily basis which I can't do. He is almost like a "Thug".

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