Half the business off block trades

Dec 19, 2012 (LBT) - The market traded the day on a mixed note. The broader market gained 5 points to close at 5513 points whilst the more liquid MPI shed 18 points. S&P Sri Lanka 20 index declined by 2 points. Turnover = LKR. 464 Million (Approx. USD = 3.6 Million) vs. 12-month average daily turnover of LKR.909 Million (USD =6.9 Million)

Sectors

Gainers

Telecommunications 2.03%

Investment Trusts 1.96%

Trading 0.88%

Losers

Stores and Supplies 1.83%

Plantations 1.25%

Hotels and Travels 1.14%

Foreign accumulation continued in COMB as two blocks amounting to 692,300 were being traded at LKR 102/- while another two blocks totaling to 1 Million shares were being traded at LKR 103/-.

Renewed activity was witnessed in BUKI as a block of 50,000 share were being traded at LKR 690/-.

CARG also witnessed a block being traded at LKR 154/- for 210,000 shares whilst over 155,000 shares were being traded between LKR 142.50/- and LKR 154/- levels.

Net Inflow of foreign funds were seen during the day, where foreign purchases amounted to LKR.288 Million (USD 2.2 Million), whilst foreign sales amounted to LKR.183 Million (USD 1.4 Million).
http://lbt.lk/stock-market/movement/3258-lbtmarket-wednesday

COLOMBO, Dec 19 (Reuters) - Sri Lanka's rupee currency gained on Wednesday, helped by remittances and exporter conversions ahead of holidays, while stocks were barely changed.

The rupee firmed to 128.40/50 to the dollar compared with Tuesday's close of 128.70/75, dealers said.

'There were remittances from expatriates for their families ahead of Christmas and there was also exporter conversions in the absence of importer demand for dollars,' a currency dealer said on condition of anonymity.

Colombo Stock Exchange's main index edged up 0.09 percent or 4.84 points to close at 5,512.66.

Telecom shares provided the standout performances, with top mobile phone operator Dialog Axiata and leading fixed line operator Sri Lanka Telecom gaining 3.8 percent and 2.1 percent respectively.

Analysts said fall in interest rates should attract more investors to the stock market from January.

Total turnover was 464.3 million rupees ($3.61 million), around half of this year's daily average of 891.9 million rupees. Foreign investors were net buyers of 105.2 million rupees worth of shares, extending the net foreign buying so far this year to 36.6.94 billion rupees.

Treasury bill yields eased between 21-27 basis points at a weekly auction on Wednesday in line with the central bank's rate cut last week.,

($1 = 128.7500 Sri Lanka rupees)

(Reporting by Shihar Aneez; Editing by Simon Cameron-Moore)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)
http://www.xe.com/news/2012/12/19/3124461.htm

Foreigners are busy buying attractively-priced select Lankan equities before the onset of Christmas holidays.

In the final full-week before Christmas, net foreign buying has amounted to Rs. 350 million, bringing the year-to-date figure to Rs. 37.5 billion.

Most of the foreign buying however had been of stakes held by peers who were exiting booking profit. For example, foreign fund Janus figured on the selling side of Commercial Bank but new emerging/frontier market funds grabbed the opportunity.

Commercial Bank saw 1.85 million of its shares traded on Tuesday for Rs. 187 million. Yesterday too Commercial Bank saw 1.9 million of its shares traded for Rs. 194 million.

Foreign investors’ darling JKH also saw Rs. 150 million worth of buying on Tuesday, whilst other foreign-to-foreign deals covered Dialog and Aitken Spence as well as Pan Asia Bank.

Persistent foreign buying remains emphatic though most locals have so far failed to find strength from the record net foreign inflow. Some analysts said bullish sentiment by foreigners is despite the risks associated if any and various negativities some sceptics link to the Bourse, regulations and prospects for corporates in the economy.

Overall foreign participation has been above 50% this week.

The declining trend in Treasury Bill yield rates for the second consecutive week (see page is likely to make equities more attractive for locals in the New Year.

Some of the local institutional investors also continued to take profit. For example, Sri Lanka Insurance Corporation Life Fund was on the selling side of Sampath Bank, shedding Rs. 161 million worth of shares, whilst the bulk of the buying came from the Captain family. SLIC was also on the selling side of JKH this week.

NSB, which began selling Chevron Lubricants last week, persisted in the act to book profit. It sold a further 250,000 LLUB shares for Rs. 50 million this week as well to a foreign fund.

Commenting on yesterday’s market, NDB Stockbrokers said: “The Bourse continued its upward movement, heading into the Christmas holidays. Commercial Bank saw foreign interest with parcel trades boosting turnover. Additionally, Cargills and Bukit Darah saw institutional and high net worth interest.”
Lanka Securities said the market traded with mixed sentiments throughout the day although a few blue-chips lost ground.

The ASI gained 4.87 points (+0.09%) to close at 5,512.66, the MPI lost 18.44 points (-0.37%) to close at 5,020.86, and the S&P SL20 Index lost 1.63 points (-0.05%) to close at 3,017.99. Turnover was Rs. 464 m.

“Commercial Bank continued to provide activity in the market, whilst turnover was dominated by blue-chips. Gains on Bukit Darah helped to prop up the indices as a private deal took place above the market price,” Lanka Securities added.

Top contributors to turnover were Commercial Bank with Rs. 194.1 million, Cargills Ceylon with Rs. 56.2 million and Bukit Dharah with Rs. 52.5 million. Most active counters for the day were Lanka Milk Foods, Sampath Bank, and Vallibel One.

Notable gainers for the day were Talawakele Plantations, up by 10% to close at Rs. 24.90, Huejay International, up by 9% to close at Rs. 79.80 and Ceylon Insurance, up by 8% to close at Rs. 79. Notable losers for the day were Ceylon Leather Products – warrant (0013), down by 15% to close at Rs. 5.10, Tea Smallholder Factories down by 14% to close at Rs. 42.30 and Hapugastenna Plantations down by 10% to close at Rs. 38.60.

The Banking, Finance and Insurance sector became the highest contributor to the market turnover (due to Commercial Bank and Sampath Bank) and the sector index dropped by 0.20%. The share price of Commercial Bank lost Rs. 1 (0.97%) to close at Rs. 102 while the share price of Sampath Bank increased by Rs. 0.10 (0.05%) to close at Rs. 200.10.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Cargills Ceylon) and the sector index gained by 0.59%. The share price of Cargills Ceylon increased by Rs. 11 (7.69%) to close at Rs. 154. The share price of Bukit Darah dropped by Rs. 3 (0.45%) to close at Rs. 662 while the share price of PC Pharma dropped Rs. 0.30 (2.91%) to close at Rs. 10.
http://www.ft.lk/2012/12/20/brisk-buying-by-foreigners-before-xmas-holidays/

Bourse closes flat on low turnover

The Colombo bourse yesterday closed virtually flat with the All Share and S&P indices marginally up while the Milanka was down 18.44 points (0.37%) on a turnover of Rs.464.3, down from the previous day’s Rs.2.58 billion, with 100 losers ahead of 88 gainers while 124 counters closed flat.

Brokers said slightly over Rs.240 million of the day’s turnover came off block trades in Commercial Bank (voting), Bukit Darah and Cargills.

Foreign purchases reached Rs. 287.83 million with a net inflow of Rs. 105.21 million.

"The ASPI ended marginally higher for a second consecutive day amid subdued activity levels, with crossings on COMB (voting), CARG, and BUKI, accounting for over 50% of market turnover," John Keells Stockbrokers said.

ComBank saw nearly 1.7 million shares crossed in four parcels at Rs.103 and Rs.102 per share in deals worth Rs.173.6 million while Bukit Darah saw a crossing of 50,000 shares at Rs.690 generating Rs.34.5 million. Cargills, with four crossings totaling 0.2 million shares at Rs.154 per share, contributed Rs.32.3 million to turnover.

On the trading floor, the biggest contributor was PC Pharma where slightly over 3 million shares were done at a price of Rs.10, down 30 cents from the previous close contributing Rs.30 million to turnover in a deal believed to be between related parties.

Cargills saw nearly 0.2 million shares traded on the floor closing Rs.11 up at Rs.154 trading between Rs.142.50 to Rs.154 generating a turnover of Rs.23.8 million. Brokers said that most of these transactions were in large parcels.

Commercial Bank too saw 0.2 million shares done on the floor closing a rupee down at Rs.102 trading between Rs.102 and Rs.103.50 contributing Rs.20.5 million to turnover while Bukit Darah saw 26,113 shares traded on the floor in a single parcel at Rs.662, down Rs.3 from the previous close, generating a turnover of Rs.18 million.

Among the other blue chips most traded yesterday were Sampath Bank closing 10 cents up at Rs.200.10 on 78,715 shares, LMF up Rs.7.40 to close at Rs.100 on over 1 million shares, Carsons down 10 cents to close at Rs.430 on 25,303 shares and JKH down 80 cents to close at Rs.217 on 35,539 shares.

Ceylon Tobacco closed Rs.4.70 down at Rs.795.30 on 7,710 shares and NDB closed Rs.3.40 up at Rs.139 on 37,137 shares.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=68658