Colombo bourse up marginally

sriranga

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COLOMBO, April 29 (Reuters) - Sri Lankan shares closed at their highest level in seven months on Monday as retail investors bought select shares on hopes interest rates would fall by June, while the rupee edged up on dollar sales by banks.

The main stock index rose for a fourth straight session to close 0.09 percent, or 5.45 points, up at 5,967.62, its highest close since Sept. 29, 2012.

Shares have been rising on hopes of a fall in interest rates after Treasury Secretary P.B. Jayasundera and the central bank said official interest rates could ease in May and June.

The market has risen 3.3 percent since the treasury secretary's comments on official interest rates.

The recent rally has pushed the index to an overbought region with the Relative Strength Index at 80.559 on Monday, above the upper neutral region of 70.

'With the expectation of rates coming down, a lot of retail activities are coming in with a bit of foreign participation,' said a stockbroker.

The turnover was 845.84 million rupees ($6.67 million), lower than this year's daily average of 965 million rupees.

Foreign investors were net buyers of 114.95 million rupees worth shares, extending the net foreign inflow so far this year to 8.7 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The rupee ended slightly firmer at 126.65/85 per dollar from Friday's close of 126.77/80, as state banks sold dollars, currency dealers said. ($1 = 126.7500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

(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/2013/04/29/3327093.htm?c=1&t=

Redbulls · 2 Index traded on a volatile note Mon Apr 29, 2013 5:53 pm

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Written by Tharanga Senaratne

Apr 29, 2013 (LBT) - The bourse trading on marginal grounds: The market activities of the Colombo Bourse were rather stagnated in the early trading session. However the index denoted a sudden dip in late trading and recovered marginally thereafter. ASPI closed at 5,967.62 with a marginal gain of 5 points. Gains recorded in Ceylon Tobacco (+2.3%), Lion Brewery (+2.1%) and Commercial Leasing and Finance (2.0%) weighted positively on the index performance. However losses in Lanka Hospital Corporation (-4.5%) and Asian Hotels and Properties (-1.4%) kept the index on the marginal ground. S&P SL20 too ended with a marginal gain of 3.8 points.

Colombo Dockyard spearheaded the turnover: Colombo Dockyard spearheaded the daily turnover backed by a single off-board transaction totaling 250k shares which was dealt at LKR.220.0. The counter too denoted two large on-board transactions of 200k shares and 130k shares at a price of LKR220.0. DOCK closed at LKR224.0 with a gain of 1.8%. Commercial Bank of Ceylon and John Keells Holdings too recorded crossings where the former transacted an off-board block of 267k shares at a price of LKR114.50 and the latter crossed 106k shares at a price of LKR249.6.

Colombo Land and Development Company extended gains with “Pin Bar” pattern: Retail favorite; Colombo Land and Development Company extended its gains today for the ninth straight day topping today’s on-board turnover list. However the counter witnessed a bearish technically called “pin bar” bar pattern today where it reached a high of LKR56.80 before closing at LKR52.70 with a gain of 0.8%. Improved retail activity: Heavy retail activity was seen in Touchwood Investments, Central Investment & Finance and Colombo Fort Land and Building.
http://lbt.lk/stock-market/movement/4270-index-traded-on-a-volatile-note

CSE.SAS · 3 Trading Monday - Sri Lanka stocks flat Mon Apr 29, 2013 9:02 pm

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Apr 29, 2013 (LBO) – Sri Lanka's stocks closed barely changed Monday despite foreign investor interest in banking stocks, brokers said.

The benchmark Colombo All Share Index closed 05.45 points higher at 5,967.62 up 0.09 percent and the S&P SL 20 Index closed 03.78 points higher at 3,363.14 up 0.11 percent.

Turnover was 846 million rupees. Foreigners bought 158 million rupees of shares and sold 43.9 million rupees worth.

Ceylon Tobacco Company gained 17.90 rupees to close at 815.10 and The Lion Brewery Ceylon closed at 380.00 rupees up 8.00 rupees helping pare losses in a day in a day that saw 133 stocks declining and 76 advancing.

DFCC Bank lost 0.50 rupees to close at 142.80 rupees. Sampath Bank closed at 216.80 rupees down 0.70 rupees.

Commercial Bank of Ceylon gained 40 cents to close at 114.50 rupees. Hatton National Bank closed flat at 163.00 rupees.

Pan Asia closed at 21.00 rupees up 0.10 rupees. Union Bank of Colombo closed at 19.10 rupees down 0.10 rupees.

Commercial Leasing and Finance gained 0.10 rupees to close at 5.00 rupees

Nestle Lanka closed flat at 1790.00 rupees.

Dialog Axiata closed flat 9.30 rupees while Index heavy John Keells Holdings gained 0.40 rupees to close at 249.90 rupees.

Distilleries Company of Sri Lanka closed at 169.20 rupees down by 41 cents.

Aitken Spence closed at 121.60 up 0.60 rupees.

Colombo stocks are now trading at 16.1 times profits historical profits according to CSE data.

But the banking and finance sector is trading at only 10.1 times, diversified which has a liquidity premium and foreign interest at 25.1 times and the much hyped hotels and travels at 35.9 times.
http://www.lankabusinessonline.com/news/Sri_Lanka_stocks_flat/1679390114

CSE.SAS · 4 Colombo bourse up marginally Tue Apr 30, 2013 1:32 am

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The All Share Price Index gained marginally on Monday to close 0.09 percent higher at 5,967.62 while the S&P SL20 gained 0.11 percent to close 3.78 points higher at 3,363.14.

Turnover reached Rs. 845.84 million while foreign purchases amounted to Rs. 158.95 million leading to a net inflow of Rs. 114.95 million.

"The ASPI partially gave back intraday gains during the latter hours of trading, ending marginally higher amid a slight drop in activity levels. Trades on CLND and DOCK accounted for over 25% of turnover inclusive of block trades. The market also saw crossings on JKH and COMB," John Keells Stockbrokers said.

"The bourse trading on marginal grounds: The market activities of the Colombo Bourse were rather stagnated in the early trading session," Softlogic Equity Research (SER) said.

"However the index denoted a sudden dip in late trading and recovered marginally thereafter. Gains recorded in Ceylon Tobacco (+2.3%), Lion Brewery (+2.1%) and Commercial Leasing and Finance (2.0%) weighted positively on the index performance. However losses in Lanka Hospital Corporation (-4.5%) and Asian Hotels and Properties (-1.4%) kept the index on the marginal ground. S&P SL20 too ended with a marginal gain of 3.8 points," it said.

"Colombo Dockyard spearheaded the daily turnover backed by a single off-board transaction totaling 250k shares which was dealt at LKR.220.0. The counter too denoted two large on-board transactions of 200k shares and 130k shares at a price of LKR220.0. DOCK closed at LKR224.0 with a gain of 1.8%. Commercial Bank of Ceylon and John Keells Holdings too recorded crossings where the former transacted an off-board block of 267k shares at a price of LKR114.50 and the latter crossed 106k shares at a price of LKR249.6.

"Retail favorite; Colombo Land and Development Company extended its gains today for the ninth straight day topping today’s on-board turnover list. However the counter witnessed a bearish technically called "pin bar" bar pattern today where it reached a high of LKR56.80 before closing at LKR52.70 with a gain of 0.8%.

"Heavy retail activity was seen in Touchwood Investments, Central Investment & Finance and Colombo Fort Land and Building," SER said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=77899