Sri Lanka stocks close up 0.46-pct

LSE · 1 Sri Lanka stocks close up 0.46-pct Thu May 09, 2013 6:27 pm

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May 09, 2013 (LBO) – Sri Lanka’s stock closed up 0.46 percent for the third straight day, helped by the banking sector and foreign buying in to Distilleries, HNB, NDB and Aitken Spence , brokers said.

The benchmark Colombo All Share Index closed 28.16 points higher at 6,238.71 up 0.46 percent and the S&P SL 20 Index closed 05.21 points higher at 3,526.51 up 0.15 percent.

Turnover was 2.1 billion rupees up from 1.46 billion rupees a day earlier.

Foreign investors were net buyers with an inflow of 194 million rupees.

Top contributors Hemas Holdings gained 3.40 rupees to close at 34.50 rupees, Cargills gained 5.00 rupees to close at 165.00 rupees while Sampath Bank closed at 231.10 rupees up 5.60 rupees.

Hatton National Bank closed at 171.70 rupees up 0.70 cents, DFCC Bank gained 0.80 cents to close at 152.00 rupees, Commercial Bank of Ceylon closed 118.50 rupees down 0.20 cents and National Development Bank gained 1.90 rupees to close at 180.00 rupees.

Pan Asia closed at 22.10 rupees down 0.20 cents. Union Bank of Colombo closed at 19.00 rupees up 0.10 cents.

LB Finance closed at 137.00 rupees up 0.60 cents, Peoples Leasing gained 30 cents to close at 15.40 rupees and Commercial Leasing and Finance closed flat at 4.70 rupees.

Distilleries Company of Sri Lanka closed at 181.20 rupees up 60 cents while The Lion Brewery Ceylon closed flat at 370.00 rupees for the second day.

Ceylon Tobacco Company gained 1 rupee to close at 826.00 rupees.

Nestle Lanka closed at 1852.20 rupees down by 12.80 rupees.

Aitken Spence closed at 136.10 down 1.30 rupees. Browns Investments gained 0.10 cents to close at 3.60 rupees.

Index Heavy John Keells Holdings closed at 267.50 rupees down 2.40 rupees, Softlogic Holding gained 40cents to close at 11.60 rupees

Hayleys closed flat at 300 rupees and Vallibel One which brought Lanka Ceramic closed at 20.70 rupees down by 90 cents.

Lanka Ceramic closed at 115.55 rupees down by 4.50 rupees, Royal Ceramic gained 1.10 rupees to close at 108.40 rupees, Lanka Wall Tiles closed at 71.80 rupees up 4.30 rupees and Lanka Floor Tiles closed gained 2.40 rupees to close at 72.40 rupees

Asiri Hospital Holdings closed flat at 15.50 rupees, Nawaloka Hospital gained 10 cents to close at 3.40 rupees and The Lanka Hospital Corporation closed at 43.90 rupees down 10 cents

Dialog Axiata closed at 9.40 down 30 cents and Sri Lanka Telecom lost 40 cents to close at 42.50

Source - http://www.lankabusinessonline.com/news/Sri_Lanka_stocks_close_up_0.46-pct/656776095

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sriranga · 2 Sri Lanka shares, rupee up ahead of rate decision Thu May 09, 2013 7:34 pm

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COLOMBO, May 9 (Reuters) - Sri Lankan shares rose for the sixth straight session on Thursday to hit a new 1-1/2 year high, led by banking shares as expectations of a rate cut at the central bank's policy meeting on Friday boosted local investor appetite for stocks.

The main stock index edged up 0.46 percent, or 28.61 points, to 6,238.71, the highest close since Nov. 14, 2011.

'The market is up on positive sentiment as investors expect a rate cut from the tomorrow's policy rate decision,' a stockbroker said on condition of anonymity.

Analysts said they also expect a rate cut at the central bank's May monetary policy announcement. But a Reuters poll showed it will hold rates steady and expects a rate cut in June.

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

The market has gained 8 percent since the treasury secretary's comments on April 9.

The International Monetary Fund, however, last week said Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices rose at a slower pace in April than in the previous month.

Turnover was 2.14 billion rupees ($16.97 million), well above than this year's daily average of 1.02 billion rupees.

Foreign investors were net buyers of 194.1 million rupees of shares, extending the net foreign inflow so far this year to 9.31 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The rupee edged up to 126.00/10 per dollar, firmer from Thursday's close of 126.05/08, on bank dollar sales amid tight rupee liquidity in the market ahead of the policy announcement, currency dealers said.

($1 = 126.1000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee) Keywords: MARKETS SRILANKA/

(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/2013/05/09/3343937.htm

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WRITTEN BY THARANGA SENARATNE

May 09, 2013 (LBT) - Indices continued on an upward trajectory: The bourse extended gains with heavy focus on the banking and finance sector whilst touching a peak of 6,258.26 points (+40 points) during latter trading hours. Profit taking in selected counters led the benchmark index to close with a lesser gain of 28 points with Hemas Holdings (+10.9%), Cargills (+3.1%), Sampath Bank (+2.5%) and Colombo Dockyard (+5.5%) weighing positively on the index. The S&P SL20 index secured a lesser gain of 5 points ending at 3,526.51 points.

S&P SL20 caliber counters booked the top turnover slot: 8 crossings in S&P SL20 caliber counters added 44% to the day’s turnover. Continued interest in Commercial Bank led the counter to record 3 blocks accumulating to 3.3 mn shares at a 52-week high (off-market) price of LKR118.0 while Distilleries and Hatton National Bank recorded two crossings each at LKR185.0 and LKR172.0. National Development Bank was noted in the gainers list touching LKR181.0 (+1.6%) at its intra-day high with strong on-board participation. Sampath Bank and Nations Trust Bank traded at their 52-week high price levels as they ended the day with gains of 2.5% and 2.3% respectively.

BFI sector activity strengthened adding 54% to turnover: Investor hunt in banks led the bourse as key focus surrounded National Development Bank, Sampath Bank and Nations Trust Bank with each depicting active on board participation amidst significant gains. Royal Ceramics continued to grab the investor focus as it saw its price move to a new 52-week high at LKR111.9 today. Related counter Lanka Walltile closed the day gaining 6.4%. Access Engineering and Distilleries also saw notable interest. Retailers continue their active streak: Heavy retail activity was observed in Touchwood Investments, SMB Leasing, Capital Alliance Finance, Environmental Resources Investments and East West Properties.
http://lbt.lk/stock-market

sandunj · 4 Shares, rupee up ahead of rate decision Fri May 10, 2013 12:22 am

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Published : 11:23 pm May 9, 2013

Reuters: Shares rose for the sixth straight session on Thursday to hit a new 1-1/2 year high, led by banking shares as expectations of a rate cut at the Central Bank’s policy meeting on Friday boosted local investor appetite for stocks.

The main stock index edged up 0.46%, or 28.61 points, to 6,238.71, the highest close since 14 November 2011.
“The market is up on positive sentiment as investors expect a rate cut from the tomorrow’s policy rate decision,” a stockbroker said on condition of anonymity.
Analysts said they also expect a rate cut at the Central Bank’s May monetary policy announcement. But a Reuters poll showed it will hold rates steady and expects a rate cut in June.
Shares have been on a rising trend on expectations of a fall in interest rates after Treasury Secretary Dr. P.B. Jayasundera and the Central Bank said interest rates could ease in May-June.
The market has gained 8% since the Treasury Secretary’s comments on 9 April.
The International Monetary Fund, however, last week said Sri Lanka must not loosen monetary conditions as inflation remains a concern, even though prices rose at a slower pace in April than in the previous month.
Turnover was Rs. 2.14 billion ($ 16.97 million), well above than this year’s daily average of Rs. 1.02 billion.
Foreign investors were net buyers of Rs. 194.1 million of shares, extending the net foreign inflow so far this year to Rs. 9.31 billion. Last year, the Bourse saw a net inflow of $ 303 million.
The rupee edged up to 126.00/10 per dollar, firmer from Thursday’s close of 126.05/08, on bank dollar sales amid tight rupee liquidity in the market ahead of the policy announcement, currency dealers said.