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The Colombo bourse continued to fall with all three indices closing in the red on Wednesday (18).
The All Share Price Index fell 0.63 percent to close 30.39 points lower at 4,822.64 while the Milanka Price Index of more liquid stocks fell 0.40 percent, down 17.16 points to close at 4,268.46 and the S&P SL20 closed 0.47 percent lower at 2,742.75, down 13.03 points.
Year-to-date, the Colombo bourse has fallen 20.6 percent.
Turnover yesterday reached Rs. 383.4 million on a volume of 15.2 million shares. There was a net foreign outflow of Rs. 109 million, with foreign selling amounting to Rs. 172.6 million.
Year-to-date, the bourse has seen a net foreign inflow of Rs. 23.9 million.
"Wednesday’s listless run of the bourse caps a lousy four-week of motionless stretch. Participatory levels screeched a loud brake till mid-day with interest in Sampath Bank emerging to be a key savior," Softlogic Equity Research said.
"This vilest performance of the bourse is a new experience to the investors who initiated tracking the bourse only after the end of the war. The main question that seemed to loom is how long the trend would last. SEC’s move to extend credit period will shadow its benefits after sometime as most advisors are still moaning on their existing debt levels. The measured play of the bourse is nothing but yet another chance for one to step in at this attractive juncture as they capitalize on rock bottom stocks. Interest and Exchange rates would not continue the climb up pattern and is expected to stabilize with the confirmation of the inflow of the most awaited IMF’s final tranche of USD420 mn on Friday. The slowed retailers herded around Regnis Lanka, HVA Foods, Orient Garments, Capital Alliance Finance, Piramal Glass and Hemas Power for the day," it said.
"Interest was predominantly visible in the finance sector counters; National Development Bank, DFCC Bank, Nations Trust Bank, Commercial Leasing & Finance and People’s Leasing Company whilst HNB Assurance saw some renewed trading for the day. Highly activated Sampath Bank, defined the day’s crossing list as three off market deals counting 740k shares in total were struck at LKR149.0 adding c.28.7% to the day’s turnover.
"Laugfs Gas [Non-Voting], after being noted as a leading dividend performer, continued to be chased by retailers as it closed the day on a slow note with a marginal dip after appreciating a 24.0% since its dividend announcement on the 12th of July 2012.
"Motor sector player; Diesel & Motor Engineering and United Motors saw some active trading in the counters despite the fact that vehicle registration for June had shrunk 46% YoY to 21,587 with the prevailing high interest rates.
"Renewed play tapped in John Keells Hotels as a 357k shares were seen taken on board at LKR12.0 at the open of the market. Buying surrounded the heavy index, Carsons Cumberbatch, but recorded very small volume levels as it closed with a marginal 0.6% loss at LKR460.2. Amongst the other S&P SL20 index that saw interest were John Keells Holdings and Asian Hotels & Properties whilst Distillerirs Company of Sri Lanka sank 1.6% and traded at its book value of LKR122.3 during the day."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=57114
The All Share Price Index fell 0.63 percent to close 30.39 points lower at 4,822.64 while the Milanka Price Index of more liquid stocks fell 0.40 percent, down 17.16 points to close at 4,268.46 and the S&P SL20 closed 0.47 percent lower at 2,742.75, down 13.03 points.
Year-to-date, the Colombo bourse has fallen 20.6 percent.
Turnover yesterday reached Rs. 383.4 million on a volume of 15.2 million shares. There was a net foreign outflow of Rs. 109 million, with foreign selling amounting to Rs. 172.6 million.
Year-to-date, the bourse has seen a net foreign inflow of Rs. 23.9 million.
"Wednesday’s listless run of the bourse caps a lousy four-week of motionless stretch. Participatory levels screeched a loud brake till mid-day with interest in Sampath Bank emerging to be a key savior," Softlogic Equity Research said.
"This vilest performance of the bourse is a new experience to the investors who initiated tracking the bourse only after the end of the war. The main question that seemed to loom is how long the trend would last. SEC’s move to extend credit period will shadow its benefits after sometime as most advisors are still moaning on their existing debt levels. The measured play of the bourse is nothing but yet another chance for one to step in at this attractive juncture as they capitalize on rock bottom stocks. Interest and Exchange rates would not continue the climb up pattern and is expected to stabilize with the confirmation of the inflow of the most awaited IMF’s final tranche of USD420 mn on Friday. The slowed retailers herded around Regnis Lanka, HVA Foods, Orient Garments, Capital Alliance Finance, Piramal Glass and Hemas Power for the day," it said.
"Interest was predominantly visible in the finance sector counters; National Development Bank, DFCC Bank, Nations Trust Bank, Commercial Leasing & Finance and People’s Leasing Company whilst HNB Assurance saw some renewed trading for the day. Highly activated Sampath Bank, defined the day’s crossing list as three off market deals counting 740k shares in total were struck at LKR149.0 adding c.28.7% to the day’s turnover.
"Laugfs Gas [Non-Voting], after being noted as a leading dividend performer, continued to be chased by retailers as it closed the day on a slow note with a marginal dip after appreciating a 24.0% since its dividend announcement on the 12th of July 2012.
"Motor sector player; Diesel & Motor Engineering and United Motors saw some active trading in the counters despite the fact that vehicle registration for June had shrunk 46% YoY to 21,587 with the prevailing high interest rates.
"Renewed play tapped in John Keells Hotels as a 357k shares were seen taken on board at LKR12.0 at the open of the market. Buying surrounded the heavy index, Carsons Cumberbatch, but recorded very small volume levels as it closed with a marginal 0.6% loss at LKR460.2. Amongst the other S&P SL20 index that saw interest were John Keells Holdings and Asian Hotels & Properties whilst Distillerirs Company of Sri Lanka sank 1.6% and traded at its book value of LKR122.3 during the day."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=57114
