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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Block trades drives turnover to Rs. 1.3 bn., indices edge down

Block trades drives turnover to Rs. 1.3 bn., indices edge down

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1Block trades drives turnover to Rs. 1.3 bn., indices edge down Empty Sri Lanka stocks end lower Thu Dec 05, 2013 5:19 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Dec 05, 2013 (LBO) - Sri Lanka stocks closed lower Thursday with diversified stocks losing ground despite strong foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 2.34 points lower at 5,780.58, down 0.04 percent. The S&P SL20 closed 3.43 points lower at 3,161.62, down 0.11 percent.

Turnover was 1,321.58 million rupees, up from 794.49 million rupees a day earlier, with stocks of 75 firms closing in the red against 79 gainers.

Commercial Leasing and Finance closed 10 cents higher at 3.90 rupees with an off market transaction of 450 million rupees contributing to 34 percent of total turnover.

JKH closed flat at 210.00 rupees attracting more retail investor interest during the day. Foreigners brought 607 million rupees worth shares while selling 315 million rupees of shares.

Lanka Orix Leasing Company closed 3.50 rupees lower at 74.00 rupees and Bukit Darah closed 9.70 rupees lower at 615.30 rupees, contributing most to the index drop.

Chevron Lubricants closed 5.00 rupees lower at 265.00 rupees and Asian Hotels and Properties closed 1.20 rupees lower at 66.80 rupees.

Vallibel Power closed 50 cents lower at 5.80 rupees.

Ceylinco Insurance closed 71.30 rupees higher at 1,321.30 rupees and Distilleries closed 3.00 rupee higher at 189.00 rupees.

Commercial Bank closed 50 cents higher at 115.50 rupees and Nestle Lanka closed 6.40 rupees higher at 1,950.00 rupees.

JKH’s W0022 warrants closed 2.00 rupees higher at 61.00 rupees and its W0023 warrants closed 5.00 rupees higher at 71.00 rupees.

Ceylon Tobacco Company closed 1.50 rupees higher at 1,116.50 rupees and Lanka IOC closed 60 cents higher at 32.40 rupees. NDB closed flat at 160.00 rupees and Aitken Spence Hotel Holdings closed flat at 63.50 rupees.

Carson Cumberbatch closed 1.70 rupees lower at 348.20 rupees and Cargills Ceylon closed 1.60 rupees lower at 145.10 rupees.

Dialog Axiata closed flat at 9.00 rupees and Sri Lanka Telecom closed flat at 38.00 rupees and Sampath Bank closed 20 cents lower at 166.70 rupees and DFCC closed 20 cents higher at 122.00 rupees.

HNB closed flat at 143.50 rupees and Touchwood Investments closed 20 cents higher at 3.10 rupees.
www.lbo.lk

sriranga

sriranga
Co-Admin
COLOMBO, Dec 5 (Reuters) - The Sri Lankan bourse slipped on Thursday from a near two-week high with gains in financials offset by losses in shares of palm oil companies, and as investors waited for clarity from the monetary policy rate decision scheduled early next week.

The main stock index fell 0.04 percent, or 2.34 points, to 5,780.58, slipping from its highest close since Nov. 22.

Sri Lanka's 91-day and 182-day treasury bill yields fell to their lowest in more than two years at a weekly auction on Wednesday, central bank data showed.

'Even though the T-bill rates came down, the market interest rates have not adjusted yet. Investors are waiting to see how that will be factored in,' said a stockbroker asking not to be named.

Analysts said investors were waiting for the policy rate decision on Monday for direction and earnings amid dented confidence after tax hikes announced for the 2014 budget.

The market has been in a downward trend after the September-quarter earnings pointed to slower growth. Investors are worried that new taxes announced in the budget last week could hit consumer spending and thus revenues of listed firms.

Cumulative September-quarter earnings reported by 263 companies out of 288 listed firms fell 28.1 percent year-on-year, a research published by John Keells Stock Brokers showed.

The day's turnover was 1.32 billion rupees ($10.09 million), boosted by block trades in Commercial Leasing and Finance PLC and Capital Trust, which accounted for 34 percent and 23 percent of the day's turnover respectively. This year's daily average turnover is 847.6 million rupees.

Shares in Capital Trust fell 4.52 percent to 74.00 rupees, while Commercial Leasing and Finance PLC gained 2.63 percent to 3.90 rupees. Ceylinco Insurance rose 5.70 percent to 1,385 rupees.

Palm oil firm Bukit Darah Co fell 1.55 percent to 615.30 rupees.

Foreign investors were net buyers of 292.1 million rupees worth of shares, extending year-to-date net inflows to 22.75 billion rupees.

($1 = 130.8300 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

(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/2013/12/05/3703201.htm?c=1&t=

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

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Colombo bourse yesterday weakened slightly with both indices declining marginally but turnover topped Rs.1.3 billion, up from the previous day’s Rs.794.5 million, with 95 gainers ahead of 72 losers while 153 counters closed flat.

The All Share Price Index was down 2.34 points (0.04%) and S&P SL20 down 3.43 points (0.51%) with block trades accounting for over Rs.1 billion of the day’s turnover.

"The ASPI ended marginally lower. Market turnover crossed the Rs. 1bn mark mainly on the back of block trades on LOLC, CLC, and GRAN. The market also saw crossings on JKH and TAFL," John Keells Stock brokers said in a market report.

The biggest of these was 90 million Commercial and Leasing and Finance crossed at Rs.5 contributing Rs.450 million to turnover. Brokers and analysts said that large parcels of CLC had been moving in recent days but there was no Stock Exchange disclosure indicating change of ownership structure.

LOLC also saw nearly 39 million shares crossed in two parcels at a price of Rs.78 contributing Rs.302 million to turnover. This counter too had been active this week although the share closed Rs.3.60 down on the floor at Rs.73.90 on over 0.1 million shares done between Rs.73 and Rs.78 generating a turnover of Rs.11.1 million.

JKH was the biggest business generator on the floor closing flat at Rs.210 on slightly over 0.3 million shares done between Rs.209.90 and Rs.210.50 contributing Rs.63 million to turnover.

Distilleries followed closing Rs.3 up at Rs.189 on 85,099 shares done between Rs.189 and Rs.189.10 contributing Rs.16.1 million to turnover. JKH warrants 0023 and 0022 both saw quantity with 0023 closing Rs.5 up at Rs.71 on 0.2 million and 0022 closing Rs.2 up at Rs.61 on slightly over 0.1 million.

E-Channeling continued to show volume closing 10 cents down at Rs.12.80 on 1.2 million shares while LMF was up Rs.3.90 to Rs.105 on slightly over 0.1 million shares.

Ceylon Tobacco gained Rs.5 to close at Rs.1,120 on 8,930 shares, Laugfs closed flat at Rs.21.60 on nearly 0.4 million shares, LIOC closed 70 cents up at Rs.32.50 on 0.2 million shares and HNB (non-voting) closed 60 cents up at Rs.115.10 on 54,011 shares.

There was a foreign inflow of Rs. 292.12 million with purchases of Rs. 607.22 mn. and sales of Rs. 315.09 million.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=93434

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