Bourse recovers from mid-day dip

sriranga

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COLOMBO, Jan 7 (Reuters) - Sri Lankan stocks ended virtually unchanged on Monday, marginally down from a 13-week high, snapping seven straight sessions of gains as investors sold large caps, but foreign buying in conglomerates helped to boost turnover.

The main share index closed 0.03 percent, or 1.62 points weaker, at 5,746.09, slipping from its highest close since Oct. 10.

The index has risen 4.19 percent in the seven sessions through Friday due to declining yields in government securities after the central bank cut its key policy rates last month.

Turnover was 557.5 million rupees ($4.38 million). Foreign investors were net buyers of 199.8 million rupees worth of shares after being net buyers of a record 38.63 billion rupees worth shares last year.

The rupee closed slightly weaker at 127.35/40 to the dollar from Friday's close of 127.30/40 in dull trade, dealers said. ($1 = 127.4000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Ron Popeski)

(ranga.sirilal@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)
http://www.xe.com/news/2013/01/07/3149033.htm?c=1&t=

Redbulls · 2 CSE on Monday Mon Jan 07, 2013 7:44 pm

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Colombo Stock Exchange’s All Share Price Index closed the day at 5,746.03 points, dropping marginally by 0.03%.

“The market opened on a positive note, dropped mid day and recovered towards the end of the day closing marginally negative” added the daily market report released by Colombo based BRS.

S&P SL 20 too ended the day at 3,120 points to end the day at 3,120 points.

According to BRS, there has been institutional investor interest towards blue chips such as JKH and COMBANK while a block deal has taken place in SPEN, contributing to the day’s turnover of Rs. 557 million.

Profit-taking was evident to a certain extent by Retail investors.

Foreign participation was more on the buying side recording a net foreign inflow of 199.81 million.

MSL, CHL and GEST were the top gainers for the day while COLO.R, SEMB.X and BLI.R
were the top losers.

Price losers overtook the price gainers by 119 to 76.
http://www.news360.lk/markets/stock-market/news-07-01-2013-stocks-sri-lanka-232690

Redbulls · 3 Bourse recovers from mid-day dip Tue Jan 08, 2013 12:38 am

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The Colombo stock market yesterday turned to take a downward slope, taking a breather after continuous gains during the last two weeks. Towards mid-day the benchmark index was down 15 points at 5,731 points. However a gradual recovery was observed, allowing the market to end just two points down.

Softlogic Stockbrokers said buying interest in the blue chips was observed with John Keells Holdings, Nestle, and Chevron Lubricants leading the positive contributors, while Hayleys, Bukit Darah, and Cargills were the top negative contributors.

The S&P SL20 adopted a similar pattern to the ASPI closing with a dip of 2 points. It said market interest continues to be dominated by John Keells Holdings as foreigners search for quantities of the most liquid premier blue chip company. The counter saw 983,000 shares changing hands with two large quantities consisting of 299,000 and 340,000 shares being dealt at Rs. 223 and Rs. 221.50 per share respectively. The counter traded between Rs. 220 and Rs. 223.5 to finally close the day at Rs. 223 with a gain of 1.4%.

Heavy buying interest was observed in the leading liquor companies Distilleries and Lion Brewery as both the counters registered in new 52-week high prices of Rs. 170 and Rs. 305. The former saw a large block of 153,000 shares changing hands at Rs. 170 in the final minutes of trading while counter closed at the same price gaining 0.7% for the day. The latter traded between Rs. 298.9 and Rs. 305 to finally close at the high
price of Rs. 305 recording gain of 2.5%.

Aitken Spence registered the only crossing during the day with 202,000 shares being dealt at Rs. 119.0. Buying interest was noted in the banking and finance sector counters with Commercial Bank (0.1%), Sampath Bank (0.1%), Nations Trust Bank (0.3%), LOLC (1.6%), People’s Leasing (-1.4%), and Central Finance (-3.3%) taking the lead.
http://www.ft.lk/2013/01/08/bourse-recovers-from-mid-day-dip/

sriranga · 4 Bourse down marginally Tue Jan 08, 2013 12:40 am

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The Colombo bourse closed in the red yesterday (07) with both indices falling marginally.

The All Share Price Index fell 0.03 percent to 5,746.09 while the S&P SL20 fell 0.05 percent to 3,120.04.

Turnover reached Rs. 557.5 million on a little more than 20.9 million shares changing hands during the day.

Foreign purchases amounted to Rs. 324.35 million, resulting in a net inflow of Rs. 199.81 million.

"The market opened on a positive note, dropped mid day and recovered towards the end of the day closing marginally negative. Institutional investor interest was seen in blue chips such as JKH and COMB while a block deal took place in SPEN, contributing to the day’s turnover. Profit-taking was evident to a certain extent by Retail investors," Bartleet Religare Securities said.

"The market opened the week virtually flat with the ASPI remained unchanged at 5746. Turnover declined to LKR558 mn with trading in John Keells Holdings, Commercial Bank and Aitken Spence accounting for 64% of the day’s total. Gainers match losers with Mercantile Shipping, Ceylon Hospitals and Gestetner rising by 16.1%, 13.6% and 9.9% offsetting losses in Light House Hotel, Samson International and Paragon Ceylon which declined by 15.7%, 11.0% and 10.0% respectively," DNH Financial said.

"With 3Q2013/4Q2012 corporate results flowing in this month, we expect the ASPI to change course over the next few weeks with a gradual re-rating. We advise investors to maintain a selective approach concentrating on bluechip counters focusing on a medium to longer term investment horizon. We recommend an asset allocation strategy focusing on key sectors such as Banking & Finance, Diversified and Hotels which we believe would outperform the market and generate alpha on a sustainable basis," it said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=69882