Sri Lanka stocks end 0.4-pct lower

Jan 06, 2014 (LBO) – Sri Lanka stocks close down 0.48 percent Monday with diversified stocks losing ground amid net foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 28.81 points lower at 5,944.99, down 0.48 percent. The S&P SL20 closed 12.45 points lower at 3,282.37, down 0.38 percent.

Turnover was 462.20 million rupees, up from 349.63 million rupees last Friday, with stocks of 150 firms closing in the red against 52 gainers.

JKH topped the market turnover list with transactions of 46.67 million rupees contributing to 10 percent of turnover today.

Commercial Bank closed 80 cents higher at 120.90 rupees with an off market transaction of 56.15 million rupees contributing to 12 percent of turnover.

Madulsima Plantations closed flat at 12.40 rupees and Maskeliya Plantations closed 1.40 rupees higher at 12.40 rupees, attracting most number of trades during the day.

Foreigners bought 157 million rupees worth shares while selling 86 million rupees of shares.

Distilleries closed 4.90 rupees lower at 195.00 rupees and JKH closed 1.40 rupees lower at 227.50 rupees, contributing most to the index drop.

JKH’s W0022 warrants closed 1.50 rupees lower at 80.60 rupees and its W0023 warrants closed 3.40 rupees lower at 88.60 rupees.

Ceylinco Insurance closed 68.40 rupees lower at 1,276.60 rupees and A I A Insurance closed 30.20 rupees lower at 254.80 rupees.

Aitken Spence closed 1.90 rupees lower at 103.10 rupees and Carson Cumberbatch closed flat at 357.00 rupees.

Nestle Lanka closed 10 cents lower at 2,115.00 rupees and Ceylon Tobacco Company closed 1.90 rupees lower at 1,186.30 rupees.

Bukit Darah closed 3.00 rupees lower at 615.00 rupees and Cargills Ceylon closed 3.00 rupees lower at 148.00 rupees.

Asian Hotels and Properties closed flat at 64.50 rupees and Commercial Leasing and Finance closed 10 cents lower at 3.90 rupees.

DFCC closed 1.00 rupee lower at 134.00 rupees and Lanka Orix Leasing Company closed 10 cents lower at 71.90 rupees.

HNB closed 10 cents lower at 148.00 rupees.
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The Colombo bourse closed the trading session with modest losses on Monday with ASI retreating from the 11 week high. The ASI shed 28.81 points or 0.5% to 5,944.99, snapping the six-day winning streak. The main share index has advanced 2.2% in the previous six sessions. S&P SL20 index lost 13.58 points or 0.4% to close at 3,281.24.

The market felt some selling pressure as evidenced by the low cash-map. Today’s cash-map was at 31%, well below the five day average of 55%. The losers outweigh the gainers 155 to 59. Price depreciations in index-heavy counters such as Distilleries (LKR 198.00,-1.0%), John Keells Holdings (LKR 227.10,-0.8%) and Ceylinco Insurance (LKR 1,276.50,-5.1%) contributed negatively to the index performance.

Top contributor to the turnover: JKH
Three crossings in premier blue-chips Commercial Bank (0.5mn shares at LKR 120.00) and John Keells Holdings (0.2mn shares at LKR 229.00), lifted the market turnover to LKR 462mn. The crossings accounted for 23% of the market turnover. John Keells Holdings was the top contributor to the turnover (LKR 96mn) followed by Commercial Bank (LKR 79mn) and Hemas Holdings (LKR 37mn).

MADU and MASK among heavily traded stocks
Selected plantation sector stocks with high exposure on tea such as Madulsima Plantations (LKR 12.50,+0.8%) and Maskeliya Plantation (LKR 12.20,+10.9%) attracted investor interest today. Tea prices in all elevations have been rising continuously since August 2013 mostly on low volumes. On average tea prices have increased by 9% during past five months where High, Medium and Low grown tea prices have increased by 11%, 12% and 8% respectively. Several other plantation sector counters such as Hapugastanne Plantations (LKR 32.50,+8.0%), Udupussellawa Plantations (LKR 28.00,+4.5%), Malwatte Plantations – nonvoting (LKR 4.10,+2.5%) and Talawakelle Plantations (LKR 25.20,+2.4%) reported gains though on very low volumes.

Apart from Madulsima and Maskeliya Plantations, counters such as Abans (LKR 108.00,-2.3%) and Expo Lanka (LKR 8.00,+3.9%) were among the heavily traded stocks of the day. Expo Lanka reached a fresh 52 week high of LKR 8.10 during the trading session.

Net foreign buying
Foreign investors were net buyers of LKR 70mn worth of shares. Foreign participation accounted for 26% of the market activity and net foreign inflows were seen in counters such as John Keells Holdings (LKR 29mn), Access Engineering (LKR 10mn) and National Development Bank (LKR 8mn) while outflows were reported in counters such as Malwatte Plantations (LKR 1mn) and Expo Lanka (LKR 0.8mn).

COMB - Second interim dividend
Moreover, Commercial Bank declared the second interim dividend of LKR 1.00 last Friday with XD falling on 16th Jan. The bank has declared LKR 2.50 dividends for FY2013 and based on the dividend records a final dividend (cash and scrip) can be expected in February/March. (FY2012: LKR 4.50 cash dividend and a scrip dividend). The counter closed at LKR 122.00,+1.6%.

Foreign investor concludes due diligence in UBC
According to media report (Sunday Times), TPG, a US-based global private investment firm has finalized its due diligence pertaining to their indication of interest in Union Bank and subsequently the two parties are expected to proceed with discussions pertaining to this transaction. Union Bank share closed at LKR 16.90,+1.2%.

Here comes today statistics..




Source:JBS