Business comes off crossings as CSE limps Indices down, turnover moderate

COLOMBO, July 16 (Reuters) - Sri Lankan shares fell for the third straight session on Tuesday to their one-week low led by market heavyweight John Keells Holdings amid concerns over continued falling of the rupee currency.

The main share index ended down 0.13 percent at 6,007.65, its lowest since July 9.

Conglomerate John Keells Holdings fell 0.6 percent to 247.10 rupees.

The index hit a near 10-week low on July 9 on concerns over the rupee's weakening trend and possible foreign outflows.

The local currency weakened to a near 10-month low early on

Tuesday due to importer demand for dollar and there was no central bank intervention.

Turnover on Tuesday was 737.8 million rupees ($5.63 million), provisional data showed, which was less than this year's daily average of about 970 million rupees.

($1 = 131.0250 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Gopakumar Warrier)
http://www.reuters.com/article/2013/07/16/markets-srilanka-idUSL4N0FM27E20130716

July 16, 2013 (LBO) - Sri Lanka's stocks closed down 0.13 percent on Tuesday with large cap stocks making losses and weakening of the rupee, brokers and dealers said.

The benchmark Colombo All Share Index closed 07.55 points lower at 6,007.65 and the S&P SL 20 Index closed 11.02 points lower at 3,386.42 down 0.32 percent.

Turnover was 737 million rupees up from 440 million from a day earlier.

In the Forex Market the spot net US Dollar where settlement is made three days ahead weakened as much as 131.45-55 per Dollar, dealer said.

While in the equities market, foreigners brought 474 million rupees worth shares while selling 53 million rupees of shares, in a day that 61 stocks advanced and 109 stocks declined.

Sri Lanka Telecom contributed most to the index closing at 40.00 rupees up 1.00 rupees while H D B Capital Holdings closed at 493.00 up 7.13 rupees and Chevron Lubricants Lanka closed at 314.80 rupees up 7.80 rupees.

Negative contributors were John Keells Holdings closing at 246.20 rupees down 2.40 rupees. Commercial Leasing & Finance closed at 3.90 down 20 cents and Carson Cumberbatch closing at 420.00 rupees down 05.00 rupees.

In the banking sector, DFCC closed at 128.50 rupees down 90 cents, Sampath Bank closed at 196.30 down 1.70 rupees, Pan Asia closed flat at 18.00 rupees and Hatton National Bank closed at 155.00 rupees down 2.00 rupees.

Three crossing were record today by JKH crossed 1.2 million shares at 247 rupees a share, Sampath Bank 305,000 shares crossed at 196.50 rupees and Commercial Bank 200,000 shares crossed at 116 rupees. The crossings contributed 54 percent for today's turnover.

Ceylon Tobacco Company closed flat at 1,000.00 rupees while Distilleries Company closed at 189.60 rupees up 1.50 rupees.

Nestle Lanka closed at 1,930.00 up 11.90 rupees and Aitken Spence closed at 125.00 rupees down 1.00 rupees.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-down-0.1-pct,-rupee-weak/1624723504

Block trades in JKH and Sampath generated the bulk of the business on the Colombo bourse yesterday with a turnover of Rs.737.8 million posted, up from the previous day’s Rs.440.95 million, and both indices down – the ASPI by 7.55 points (0.13%) and S&P SL20 by 7.66 points (0.23%) with 112 losers comfortably ahead of 64 gainers while 137 counters closed flat.

Brokers said that retail activity had largely dried up with block trades in Sampath, Commercial Bank (voting) and JKH accounting for Rs.386.6 million of the day’s turnover. Along with floor trades, these counters accounted for over half the day’s business.

"The ASPI edged marginally lower amid moderately improved activity levels dominated by block trades on JKH, SAMP, and COMB, which collectively accounted for over 50% of market turnover," John Keells Stock Brokers said.

Foreigners were active buyers with purchases of Rs. 474.2 million, sales of Rs. 53.7 million and a net inflow of Rs. 420.5 million.

JKH saw three parcels totaling over 1.2 million shares crossed at Rs.247 contributing Rs.305.6 million to turnover; Sampath two parcels totaling 0.3 million shares crossed at Rs.196.50 generating a business volume of Rs.59.9 million; and a single parcel of Commercial Bank (voting) nearly 0.2 million shares crossed at Rs.116.70 contributing Rs.21.1 million to turnover.

On the trading floor, Sampath, JKH, HNB and Central Finance were the main contributors to business with several fairly large parcels traded.

Sampath closed Rs.1.60 down at Rs.196.40 with nearly 0.2 million shares done between Rs.196 and Rs.199.80 contributing Rs.38.5 million to turnover while JKH closed Rs.1.50 down at Rs.247.10 with over 0.1 million shares done between Rs.243.10 and Rs.249 contributing Rs.35.6 million while HNB with over 0.2 million shares done between Rs.243.10 and Rs.249 contributing Rs.32 million to turnover.

HNB closed Rs.2 down at Rs.155 with over 0.2 million shares traded between Rs.155 and Rs.157.50 while Central Finance closed flat at Rs.182 on over 0.1 million shares done between Rs.181.50 and Rs.182.10 contributing Rs.23.4 million to turnover.

CTC closed flat at Rs.1,000 on 23,100 shares, Bukit Darah closed flat at Rs.690 on 32,582 shares and Colombo Land closed Rs.2.30 down at Rs.41.20 on 0.4 million shares.

Senkadagala announced a first and final dividend of Rs.1.20 for 2012/2013 following shareholder approval at a July 3 AGM with the share trading XD from July 31 and payment on August 8 while Richard Pieris Exports announced an interim dividend of 40 cents per share for 2013/14 XD from July 25 with payment on August 2.

Two plantation companies, Namunukula and Kegalle, announced big interim dividend for 2013/14 – Namunukula with Rs.9 per share and Kegalle Rs.12 per share. Both counters will trade XD from July 25 with payment on August 2.
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