Trade Summary Market - 21/11/2013

Source: Direct FN

http://www.cse.lk/cmt/upload_cse_report_file/daily_report_627_21-11-2013.pdf

Colombo Stock Exchange closed with mixed results on Thursday amid the Budget Speech-2014 by HE President Mahinda Rajapaksha. Benchmark ASPI increased marginally by 8.32 points (0.14%) to 5,801.85 points. Amidst the budget proposal of 2% NBT imposed on Banks and finance companies several banking sector counters such as Commercial Bank (LKR 115.90, +0.8%), Sampath Bank (LKR 168.00, +1.6%), HNB non-voting (LKR 112.00, +1.0%) and Seylan Bank (LKR 65.50, +3.2%) managed to close with gains for the day. S&P SL 20 Index lost 7.08 points (-0.22%) to 3,202.19 mainly due to the drop in price of Ceylon Tobacco by 2.7% (closed at LKR 1,030.00).

Market turnover reached LKR 948mn with the support of several off board transactions recorded in Commercial Bank (1.95mn shares at LKR 115.10), Dialog Axiata (16.0mn shares at LKR 9.00), HDFC (~1.6mn shares at LKR 35.00), Distilleries (0.20mn shares at LKR 190.00) and Sampath Bank (0.15mn shares at LKR 165.00). The aggregate value of the crossings accounted for 51% of the daily market turnover. Accordingly, Commercial Bank made the highest turnover of LKR 315mn followed by Dialog Axiata (LKR 144mn) and Distilleries (LKR 101mn).

Meanwhile Blue Diamond, Swarnamahal Financial Services and PC House traded heavily during the day. Taprobane Holdings –Rights commenced trading today and closed with no change at LKR 0.10.

Foreign participation accounted for 47% of the total market activity and foreign investors ended as net sellers with a net outflow of LKR 208mn. Net selling was seen in Commercial Bank (LKR 222mn), Sampath Bank (LKR 75mn), Dialong Axiata (LKR 54mn).

Cash map closed at 58%.

Crossings dominated activity on the Colombo bourse yesterday with turnover hitting Rs.948.3 million, up from the previous day’s Rs.486.4 million, with the All Share Price Index turning positive by gaining 8.32 points (0.14%) while S&P SL20 was down 7.08 points (0.22%) with 140 gainers way ahead of 50 losers and 130 counters closing flat.

Block trades in Commercial Bank, Sampath Bank, Distilleries, Dialog and HDFC Bank totaling Rs.486.8 million in value generated more than half the day’s turnover, brokers and analysts noted.

``The market turned positive and we saw quite a bit of volume,’’ a broker said. ``Commercial Bank generated the most turnover with two crossings of 1.95 million shares done at Rs.115.10 contributing Rs.224.4 million to turnover.’’

``The ASPI ended marginally higher amid gains in selected large cap banking and consumer stocks. Market turnover neared Rs. 1bn, supported by block trades on COMB, DIAL, HDFC, DIST, and SAMP," John Keells Stock Brokers said in a market report.

There was an outflow Rs. 208. 37 million on foreign activity with sales of Rs. 545.22 million against purchases of Rs. 336.85 million.

Sampath closed Rs.10 down at Rs.165 on 150,000 shares that were crossed contributing Rs.24.8 million to the day’s business volume while Distilleries saw 0.2 million shares crossed at Rs.190 (Rs.38 million), Dialog two crossings of nearly 16 million shares at Rs.9 (Rs.143.7 million) and HDFC a crossing of nearly 1.6 million at Rs.35 (Rs.55.2 million).

Commercial Bank led the floor trades closing 90 cents up at Rs.115.90 on nearly 0.8 million shares done between Rs.115 and Rs.116 contributing Rs.90.1 million turnover.

Sampath followed closing Rs.2.70 up at Rs.168 on over 0.4 million shares done between Rs.162 and Rs.163 contributing Rs.69.8 million to turnover and Distilleries closed Rs.2 up at Rs.189 on 0.3 million shares done between Rs.186.80 and Rs.190 contributing Rs.62.9 million to turnover.

"Much of the floor trades in Commercial Bank were done at the Rs.115.10 price at which the two large parcels were crossed," a broker said. "But with the Budget announcement of a new tax on banks, the share which had touched Rs.116 came down to the previous level of Rs.115.10 with just one share being done at Rs.115.90 just before trading closed."

Retail interest was seen in Touchwood which closed 60 cents up at Rs.3.40 on 8 million shares with other penny stocks like PC House Holdings up 20 cents to Rs.1.80 on 12.6 million shares and Nation Lanka Finance up 20 cents to Rs.7.90 on nearly 1.1 million shares.

LB Finance which closed a successful debenture issue earlier in the week gained 10 cents to close at Rs.110.10 on over 0.2 million shares while NDB was down Rs.2 to Rs.150 on 0.1 million shares, Pan Asia closed flat at Rs.16 on 0.7 million shares and Seylan (voting) closed Rs.2 up at Rs.65.50 on over 0.1 million shares.
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