Lackluster activity on CSE

sriranga

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COLOMBO, May 13 (Reuters) - Sri Lankan shares edged down from a near 1-1/2 year high on Monday as retail investors took profits in low trade after seven straight sessions of gains.

The main stock index fell 0.18 percent, or 10.97 points, to 6,239.03, slipping from its highest close on Friday since Nov. 11, 2011.

'Retail profit-taking brought the market down on dull trade,' a stockbroker said on condition of anonymity.

The market shrugged off a 50 basis point rate cut by the central bank on Friday, a decision speculated since early April.

On Friday, the central bank cut its key monetary policy rates by 50 basis points before the market opened, following some of its regional peers, to boost economic growth amid subdued demand.

The market had gained about 8 percent through Friday since Treasury Secretary P.B. Jayasundera's remarks on April 9 that interest rates could ease in May-June.

Monday's turnover was 535 million rupees ($4.24 million), half of this year's daily average of 1.02 billion rupees.

Foreign investors were net buyers of 153 million rupees of shares, extending the net foreign inflow this year to 9.75 billion rupees. Last year, the bourse saw a net inflow of $303 million.

The rupee edged down to 126.25/30 per dollar, down from Friday's close of 126.23/28, on importer demand for dollars, currency dealers said. ($1 = 126.2000 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

(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/2013/05/13/3348653.htm?c=1&t=

Redbulls · 2 Lackluster activity on CSE Mon May 13, 2013 5:52 pm

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WRITTEN BY THARANGA SENARATNE

May 13, 2013 (LBT) - Indices on a corrective pattern: The bourse displayed signs of consolidation today where it traded on a restricted band during trading. Morning session witnessed continued selling pressure where the index dropped by 40 points, leading to an eventual recovery in the late trading session to settle marginally negative. ASI ended at 6,239.08 with a dip of 0.2%. Gains denoted in John Keells Holdings (0.6%) and Ceylinco Insurance (3.7%) contributed positively to the index. However losses on DFCC Bank (-3.5%), Hatton National Bank (-1.6%) and Sampath Bank (-2.3%) pulled down the overall index performances.

John Keells Holdings spearheaded the daily-turnover: John Keells Holdings contributed heavily to the daily turnover supported by two off-board transactions totaling 248k shares which was dealt at a 52-week high market price of LKR270.0. The counter attracted heavy investor interest on-board and ended LKR269.90 with a gain of 0.6%. Softlogic Holdings regained investor interest: Softlogic Holdings depicted renewed on-board interest during the day. The counter witnessed several large trades being transacted, largest being the 100k shares which was transacted at LKR12.0. SHL ended the day with a 4.0% gain at LKR12.5. Investor interest was prevalent in banking counters Union bank, National Development bank and Commercial bank. Relatively low retail activity: Moderate retail activity was seen in East West Properties, Touchwood Investments and Nations Lanka Finance.
http://lbt.lk/stock-market

CSE.SAS

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May 13, 2013 (LBO) – Sri Lanka's stocks closed down 0.18 percent Monday with bank stocks sliding as domestic investors took profits, brokers said.

The benchmark Colombo All Share Index closed 10.97 points lower at 6,239.03 down 0.18 percent and the S&P SL 20 Index closed 12.05 points lower at 3,518.85 down 0.34 percent.

Turnover was 535 million rupees against 1.4 billion rupees on Friday, with 24.6 million shares changing hands.

Foreign buying was down to 176 million as compared to 284 million rupees on Friday. There were 76 positive contributors and 127 negative contributors in the days trading.

Market was dragged down by losses in the banking stocks with DFCC Bank closing at 147.10 down 5.30 rupees and Sampath Bank closing at 227.90 rupees down 5.30 rupees.

Commercial Bank of Ceylon closed 117.80 down 20 cents. National Development Bank closed at 178.90 rupees down 30 cents. Hatton National Bank closed at 168.00 rupees down 2.80 rupees.

HNB reported flat profits and higher bad loans for the March quarter.

Top contributors were John Keells Holdings which closed at 269.90 rupees up 1.60 rupees and Ceylinco Insurance up 38.60 rupees closing at 1,090.00 rupees.

J L Morrisons, a pharmaceutical firm rose on take-over speculation brokers said, ending the day at 290.30 up 47.10 rupees. The stock has gained 180 percent since April when it was 170 rupees.

The Central Bank of Sri Lanka reduced the policy interest rate by 50 basis points to 7.0 and 9.0 percent to boost credit.

The Lion Brewery Ceylon closed at 372.00 rupees up 1.90 rupees. Ceylon Tobacco Company was down 0.50 rupees to close at 829.00 rupees.
Nestle Lanka closed at 1860.00 rupees up 9.40 rupees.

Softlogic Holding gained 50 cents to close at 12.50 rupees.

Lanka Ceramic closed at 115.20 rupees down 0.40 rupees while Royal Ceramic was down 0.60 rupees to close at 109.90 rupees, Lanka Wall Tiles closed at 72.10 rupees down 0.90 rupees.
http://www.lankabusinessonline.com/news/Sri_Lanka_stocks_close_down_0.2-pct,_banks_retreat/1911474514

LSE · 4 Re: Lackluster activity on CSE Mon May 13, 2013 9:08 pm

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Thank you both Sriranga & RedBulls

K.Haputantri · 5 Re: Lackluster activity on CSE Mon May 13, 2013 9:23 pm

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Thanks Shri & Red for sharing.

ASI ? Oh its a correction leading to consolidation of the market. Nothing to warry.

sriranga · 6 Bourse, rupee, T-bond yields down Mon May 13, 2013 11:39 pm

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The Colombo bourse dipped yesterday (13) on profit taking, reversing a seven day upswing, while the rupee weakened against the US dollar. Treasury bond yields eased on improved liquidity levels.

The rupee closed at Rs. 126.30/35 against the US dollar, weakening from an opening position of Rs. 126.17/20 against the greenback on importer demand, currency dealers said.

Meanwhile yields plunged across the board in the secondary market for Treasury bonds as activity levels picked up on improving liquidity levels, except the 8 year bond where the yield tightened to 11.45/60 percent from the previous day’s 11.40/60 percent.

The more liquid five year bond yield fell to 10.93/96 percent from 10.98/11.02 percent while the four year yield slumped to 10.70/77 percent from 10.85/11.00 percent.

The three year bond yield fell to 10.78/82 percent from 10.80/90 while the two year yield fell to 10.60/80 percent from 10.80/11.00. The one year bond yield fell sharply to 10.50/70 percent from an opening position of 10.75/90 percent.

The Central Bank’s Treasury bill holdings fell to Rs. 94.54 billion yesterday from Rs. 103.94 billion on Friday.

Currency dealers said market interest rates could come down after the Central Bank cut monetary policy interest rates by 50bps last week.

Profit taking saw the All Share Price Index fall 10.97 points to close 0.18 percent lower at 6,239.03 while the S&P SL20 closed 0.34 percent lower, down 12.05 points to 3,518.85.

Turnover amounted to Rs. 535.05 million.

Foreign purchases amounted to Rs. 176.94 million, leading to a net inflow of Rs. 152.99 million.

"The indices dipped reversing a 7-day upward trend, mainly due to profit taking on a selected set of large cap and second tier counters. Activity levels slowed down during the day and were dominated by trades on banking and diversified counters, inclusive of a crossing on JKH," John Keells Stockbrokers said.

"Trades in John Keells Holdings and Softlogic Holdings accounted for 28% of the day’s turnover. Losers modestly outpaced gainers with SMB Leasing(X), Samson International and Nation Lanka Finance(X) falling by 20%, 8.9% and 6.7% and offsetting gains in J.L.Morison(X), J.L.Morison and Radiant Gems which rose by 39.9%, 21.3% and 13.1% respectively," DNH Financial said.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=78954