Total turnover for the day reaches LKR 1,305.9 mn

sriranga

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COLOMBO, March 6 (Reuters) - Sri Lankan stocks recovered on Wednesday from a nine-week low hit the previous day, led by large caps and banks, but retail investors remained cautious over interest rates after yields in government securities reversed a falling trend.

The main share index rose 0.65 percent or 36.59 points at 5,663.36, after hitting its lowest since Dec. 28.

Foreign investors were net sellers of 248.5 million rupees ($1.95 million) worth of shares, but they have been net buyers of 352.6 million rupees so far this year.

Yields in Treasury bills rose on Wednesday for the first time in 13 weeks.

'It's not a healthy sign for the market. The market may reflect this from tomorrow,' a stockbroker said.

The rise in yield comes after the International Monetary Fund last month cautioned Sri Lanka over inflationary risks.

The market has fallen 3.2 percent since the IMF on Feb. 13 said Sri Lanka was facing slow growth, high inflation and lower tax revenue risks.

The day's turnover was 1.31 billion rupees, higher than the daily average of 1.05 billion rupees this year.

The rupee ended firmer at 127.25/30 to the dollar from Tuesday's close of 127.42/48 on exporter dollar sales, dealers said.

($1 = 127.5000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Michael Urquhart)

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

(Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)
http://www.xe.com/news/2013/03/06/3239669.htm

Redbulls · 2 Total turnover for the day reaches LKR 1,305.9 mn Wed Mar 06, 2013 6:29 pm

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WRITTEN BY THARANGA SENARATNE

Mar 06, 2013 (LBT) - The All Share Price Index rose by 36.59 points to close at 5,663.4 (0.7%) while the S&P SL20 Index rose 5.94 points to close at 3,214.9 (0.2%).

Total turnover for the day stood at LKR1,305.9 mn (USD10,250.8 k) vs. 12-months average daily turnover of LKR934.8 mn (USD7,337 k), whilst the volume traded for the day was 60,589 k against the 12-month average daily volume of 37,951 k.Top contributory counters towards the turnover for the day were, Hatton National Bank LKR606.0 mn (USD4,756.4 k, 0.7%), Cargills Ceylon LKR311.3 mn (USD2,443.6 k, 2.7%), Asia Siyaka Commodities LKR93.3 mn (USD732.1 k, 3.5%), Distilleries Company of Sri Lanka LKR38.2 mn (USD299.6 k, -) and Softlogic Holdings LKR35.2 mn (USD276.5 k, 2.9%).

The performance at the CSE witnessed a slight turnaround in line with the positive momentum witnessed in regional market indices which saw both the ASI & S&P SL20 indices ending up in the green. As a result, the YTD performance turned once again into the positive territory recording a return of 0.5%. The day’s turnover was bolstered by interest in Hatton National Bank and Cargills Ceylon which jointly accounted for 70% of the day’s total turnover. This was mainly on the back of foreign and institutional interest which resulted in 3 crossings totalling to approx. 4 mn shares of Hatton National Bank at a price of LKR149. Cargills Ceylon too benefitted from 4 crossings totalling to approx. 1.9 mn shares at a price of LKR155. Retail interest continued to be limited to small cap counters such as Central Investment & Finance, HVA Foods, Nation Lanka Finance & PC House. In addition, Asia Siyakawitnessed a single crossing of 33,150 k shares at a price of LKR 2.80.

Foreign purchases amounted to LKR419.2 mn (USD3,290.7 k), whilst foreign sales amounted to LKR667.7 mn (USD5,241.2k). This resulted in a net foreign outflow of LKR248.5 mn being recorded at the end of the day’s trading. Market capitalization stood at LKR 2,176.2 bn. YTD performance is 0.5%.
http://lbt.lk/stock-market/movement/3833-total-turnover-for-the-day-reaches-lkr-13059-mn