Trade Summary Market - 15/06/2012

sriranga · 1 Trade Summary Market - 15/06/2012 Fri Jun 15, 2012 3:56 pm

sriranga

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sriranga · 2 Crossings - 15/06/2012 Fri Jun 15, 2012 4:16 pm

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Redbulls · 3 Re: Trade Summary Market - 15/06/2012 Fri Jun 15, 2012 4:22 pm

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sriranga · 4 LBT: Market Friday Fri Jun 15, 2012 6:51 pm

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Jun 15, 2012 (LBT) - The market gained further momentum with the ASPI rising by 1.4% breaching the 5000 key resistance level during the trading session to close however at 4991. Turnover improved further from yesterday’s level to LKR758 mn with trading in Commercial Bank(X), Commercial Bank and Textured Jersey accounting for 21% of the day’s total. Gainers outpaced losers with Entrust Securities, First Capital Holdings and Kalpitiya Beach Resort rising by 23.5%, 23.1% and 22.0% offsetting declines in Hayleys Exports, Paragon Ceylon and Cargo Boat which lost 17.0%, 15.4% and 13.3% respectively. Meanwhile, Asian equities rose, poised for its largest weekly gain in several months on hopes that central banks may increase measures to boost economies as Europe’s debt crisis hurts growth.

In balancing what we consider the compelling opportunities provided by the Sri Lanka bourse, we see particular value in domestically focused companies which should experience less earnings volatility against an uncertain global backdrop. Among domestically oriented stocks, we are buyers of selected counters in the consumer, industrial, diversified, banking and hotel sectors which we believe are likely to attract investors who will appreciate their potential upside. Consequently, we believe that the Sri Lanka bourse at current levels is reasonably valued (and undervalued in the case of selected stocks), especially considering its expected earnings growth which we estimate to be superior to both developed and most emerging markets. We further believe that bottom-up equity selection within the current macro-economic backdrop will generate a winning strategy for medium to longer investors.

Solid macro-economic backdrop (notwithstanding the SLRupee depreciation which adversely could affect domestic inflation levels)
http://lbt.lk/stock-market/movement/2092-lbt-market-friday