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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Indices ended in opposites; JKH added 73% to the daily turnover

Indices ended in opposites; JKH added 73% to the daily turnover

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sriranga

sriranga
Co-Admin

COLOMBO, Sept 16 (Reuters) - Sri Lankan stocks slipped from a two-week high on Monday, ending a four day winning streak, led by large cap Ceylon Tobacco Co Plc amid foreign outflows, with further falls expected due to a lack of confidence in the nation's risky assets.

The main share index edged down 0.34 percent, or 19.34 points, to close at 5,730.12, after touching a near two-week high on Friday.

'At the moment, the outlook seems to be bleak,' a stockbroker said on condition of anonymity. 'We haven't seen investors buying stocks despite interest rate reduction by the central bank. There is a problem with the confidence. There could be gains, but the trend will be weak unless there is a strong market moving news,' the stockbroker said.

Brokers also said an expensive borrowing by state-owned National Savings Bank's (NSB) has also raised concern over interest rate outlook in the future.

Shares in Ceylon Tobacco Co Plc (CTC) fell 3.13 percent to 1085.00 rupees, while Sri Lanka Telecom Plc fell 4.94 percent to 38.50 rupees.

Foreign investors were net sellers of 69.1 million rupees ($522,500) worth of shares on Monday, However, they have been net buyers of 19.31 billion worth of shares so far this year.

Monday's turnover was 683.5 million rupees, less than this year's daily average of about 882 million rupees.

($1 = 132.2500 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Anand Basu)

(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/2013/09/16/3548689.htm

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

WRITTEN BY THARANGA SENARATNE

Sep 16, 2013 (LBT) - Indices closed opposites: The Bourse traded on an indecisive note where both indices ended on opposite direction. ASPI closed in the negative territory with a loss of 19 points at 5,730.12 elicited by a notable drop in the early trading session driven largely by the price dip of Ceylon Tobacco Company (-3.1%). Price drops in Sri Lanka Telecom (-5.0%) and Asian Hotels & Properties (-4.1%) too pressurized the ASPI performance. S&P SL20 however closed marginally positive at 3,180.24 with a gain of 3 points.

JKH added 73% to the daily turnover: John Keells Holdings spearheaded the daily turnover with a 73.0% contribution supported by eight crossings which added up to 1.4 mn shares at LKR210.0. JKH denoted significant on-board activity too backed by several large blocks, largest being the 205k transaction which traded at LKR210.0. The counter closed in the green at LKR210.9 with a gain of 0.6%.

LIOC, SAMP and HNB.X attracted on-board interest: Lanka IOC attracted noteworthy on-board interest heavily supported by four transactions accumulating to 850k shares which traded at LKR25.0. The counter closed at LKR25.0 with a dip of 3.9%. Sampath Bank witnessed further downward price pressure today with notable on-board turnover levels on a segregated note with several transactions. SAMP settled at LKR175.0 with a drop of 0.6%. HNB Non-Voting too displayed noteworthy on-board turnover however dominated by a two transactions totaling to 76k shares at LKR112.0. The counter, which currently trades below its NAVPS of 135.4 based on the latest earnings, ended at 112.0 with a gain of 0.7%

Retail activity moderate: Retail activity was concentrated on Tess Agro, Touchwood Investments and PC Pharma on a moderate note.
http://lbt.lk/stock-market

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