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Can there be another Covid-19 wave in Sri Lanka?

Indices broadly flat; diversified players gathered interest Vote_lcap68%Indices broadly flat; diversified players gathered interest Vote_rcap 68% [ 178 ]
Indices broadly flat; diversified players gathered interest Vote_lcap18%Indices broadly flat; diversified players gathered interest Vote_rcap 18% [ 47 ]
Indices broadly flat; diversified players gathered interest Vote_lcap13%Indices broadly flat; diversified players gathered interest Vote_rcap 13% [ 35 ]

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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Indices broadly flat; diversified players gathered interest

Indices broadly flat; diversified players gathered interest

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sriranga

sriranga
Co-Admin
COLOMBO, Nov 28 (Reuters) - Sri Lankan stocks recovered on Thursday from a 10-week closing low, reversing a four-session falling streak, led by large cap shares such as Ceylon Tobacco Company Plc in thin trade, but stockbrokers said the gain cannot be sustained.

The main stock index ended 0.13 percent, or 7.53 points, at 5,752.20, edging up from its lowest close since Sept. 18.

'I don't think this gain can be sustained, because we don't see any change in the outlook,' a stockbroker said asking not to be named.

The market has been on a falling trend after earnings in the September quarter pointed to a slower growth. Worries that fresh taxes could hit consumer spending and thus revenue of listed firms also hurt the market.

A research published by John Keells Stock Brokers showed the cumulative September-quarter earnings reported by 263 companies out of 288 listed firms have fallen 28.1 percent year-on-year.

Investors still waited for clarity on some taxes proposed in the 2014 budget, presented last week, brokers said.

Shares in Ceylon Tobacco Company Plc rose 2.63 percent to 1057.10 rupees, while top fixed line telephone operator Sri Lanka Telecom gained 5.35 percent to 39.40 rupees.

The day's turnover was 718.9 million rupees ($5.5 million), less than this year's daily average turnover of 847.9 million rupees.

Foreign investors were net sellers for a fourth straight session, offloading 6.7 million rupees worth of shares. However, they have been net buyers of 22.5 billion rupees so far this year.

($1 = 131.2750 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Gopakumar Warrier)

(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/2013/11/28/3689941.htm?c=1&t=

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

Redbulls

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

Nov 28, 2013 (LBT) - Indices settled broadly flat: Indices denoted a volatile path as the benchmark index traded between a band of 5,735.08 points and 5,764.34 points before settling on marginal grounds at 5,752.20 points. The S&P SL20 took a similar trend and closed broadly flat at 3,163.59 points. Gains made in Ceylon Tobacco Company and Sri Lanka Telecom and losses in John Keells Holdings and Nestle Lanka kept the indices on marginal grounds.

Crossings in ECL and CLC: Commercial Leasing and Finance continued to gather interest as it crossed off a block of 15 mn shares at a 52-week high (off-board) price of LKR5.0. On-board interest in the counter was insignificant. E-Channelling spearheaded the day’s turnover as it registered a block of 22.1 mn shares at a 52-week high (off-board) price of LKR10.0 before closing with a dip of 0.9% at LKR10.4. The transaction involved a sale of shares by J.B. Cocoshell (Private) Limited to Trading Partners (Private) Limited.

Interest emerged in diversified players: Interest was prominent in diversified players Aitken Spence and John Keells Holdings. The former continued to trade at a 52-week low price of LKR106.0 while its hotel arm; Aitken Spence Hotel Holdings also gathered interest as it gained 0.9% after having traded at a 52-week low at LKR63.2. S&P SL20 caliber banks; Commercial Bank and National Development Bank gathered interest as each gained 0.8% and 0.3% at their respective closing prices. Lanka IOC followed by its strong earnings growth during 2QFY14 gathered focus as it touched a 52-week high price at LKR30.5.

Retailers focused on penny counters: Retailer interest was largely concentrated on Blue Diamonds Voting and Non-Voting, Touchwood Investments and Dankotuwa Porcelane.

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
foreigners are trying to say something it seems !

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Ignition from CHOGAM & budget proposals would not bring in immediate results as everyone is awaiting for. If such conventions & proposals are investors friendly, the real effect may come into light between mid to long term as long as such concessions granted exist at future date. Stock exchange concerned, I think, foreign investors approach is confined to the volume of market, yield ratio & regional outcomes. Encouragement of higher percentage of local participants into capital market keep the trading floor live & preserve healthy buoyancy.

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