Trade Summary Market - 01/02/2013

sriranga · 1 Trade Summary Market - 01/02/2013 Fri Feb 01, 2013 4:11 pm

sriranga

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Trade Summary Market - 01/02/2013 Aspi41

Trade Summary Market - 01/02/2013 Cse136

Trade Summary Market - 01/02/2013 Cse235

sriranga

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sriranga · 3 Market turnover remained relatively high at LKR950 mn Sat Feb 02, 2013 1:43 am

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WRITTEN BY THARANGA SENARATNE
Feb 01, 2013 (LBT) - The market closed on a flat note with the ASPI shedding a modest 0.3% to end the week at 5800. Turnover remained relatively high however at LKR950 mn with parcels of John Keells Holdings, Commercial Bank and CT Holdings changing hands that accounted for 80% of the day. Gainers matched losers with Serendib Hotels(X), CT Holdings and CeylonLeather(W0014) rising by 10.5%, 8.9% and 8.3% offsetting losses in Hayleys MGT, Paragon Ceylon and Lanka Ceramic which declined by 16.0%, 12.1% and 11.6% respectively. Most Asian stocks overcame choppy movements to end higher today, as investors remained optimistic about the Chinese economic outlook despite a mild disappointment over official data on the country’s manufacturing sector.

In economic news, Sri Lanka’s inflation further accelerated to 9.8% during January 2013 from 9.2% recorded during December 2012 as a result of a notable increase in the price of food items on account of crop damages and supply disruptions due to adverse weather conditions that prevailed in the country. On an annual average basis, inflation reported 8.1% in January compared to 7.6% during the previous month. However, core inflation decreased on a YoY basis to 7.3% during the month from 7.6% in December 2012, while annual average core inflation rose to 6.1% in January 2013 from 5.8% in December 2012. Although inflation still appears to be single
digit, if left uncontained we believe that any further acceleration could pose a real concern for Sri Lanka’s economic growth target in 2013.

Peoples Leasing & Finance PLC (PLC) has reported 7% decline in its revenue as a result of increased interest expenses offsetting its interest income generated during the period. Profit before tax (PBT) of the group declined by 37% toLKR783 mn compared LKR843 mn in 3Q2011/12. Despite the flat growth in its loan, lease and higher purchase book, provisioning charges for bad and doubtful debts and fall in value of investments increased by 226% to LKR411 mn during the quarter.
http://www.lbt.lk/stock-market/movement/3591-market-turnover-remained-relatively-high-at-lkr950-mn-