Trade Summary Market - 30/10/2013

Source: Direct FN

http://www.cse.lk/cmt/upload_cse_report_file/daily_report_595_30-10-2013.pdf

LOLC foreign buying?

dhanurrox wrote:LOLC foreign buying?

Today's major foreign buying seems to be 50 Million of DIAL @ 9.00.

LOLC 25,000 shares nett foreign sales.

Colombo bourse regained ground on Wednesday with benchmark ASI recovering 0.47% (up by 27.88 points) to settle at 5,934.41. S&P SL 20 Index gained marginally by 5.20 points (+0.16%) and settled at 3,265.82. The advancement was mainly supported by the price appreciations in high dividend payers such as Ceylon Tobacco by 1.5% (closed at LKR 1125.00) and Nestle by 2.1% (closed at LKR 1,950.00). Further price increase in LOLC by 1.7% (closed at LKR 61.00) and Ceylon Guardian Investment by 6.1% (closed at LKR 189.40) supported the increase the main index.

Daily market turnover was LKR 943mn. Dialog Axiata emerged as the top contributor to the daily turnover with an amount of LKR 512mn supported by several negotiated deals totaling to 54.5mn shares at a price LKR 9.00 per share. Apart from that LOLC with LKR 191mn and PC House with LKR 31mn posted the next best turnover levels during the day.

Access Engineering (LKR 23.00,+2.2%), Textured Jersey (LKR 15.70,-0.6%) and Seylan Merchant Bank non-voting (LKR 0.50,+25%) reached 52 week high prices while Tess Agro (LKR 1.70,-5.6%), Piramal Glass (LKR 5.00,-2.0%) and Dipped Products (LKR 90.00,-6.3%) reached 52 week low prices during the day. Net profit of troubled Dipped Products dropped 78%YoY in 2QFY14 and revenue dropped 6%YoY.

Meanwhile, PC House, Touchwood Investments and Environmental Resources Investments witnessed heavy retail investor interest.

Foreign participation for the day was 25% and foreign investors were net buyers with LKR 450mn. Net foreign inflows were seen in Dialog Aixata (LKR 440mn) and PCH Holdings (LKR 4mn).

Cash map closed at 73%.

The Colombo bourse yesterday recovered some lost ground posting a turnover of Rs.942.7 million, up from the previous day’s Rs.528.7 million, with the market gaining on heavy trades in Dialog and LOLC which accounted for the bulk of the day’s turnover.

Dialog saw block trades of over 54.5 million shares done in five parcels, all at a price of Rs.9 per share, contributing Rs.490.8 million to the day’s turnover. There were also floor trades of Dialog of over 2.4 million shares done between Rs.8.80 and Rs.9 contributing a further Rs.21.7 million to turnover.

LOLC saw over 2.9 million shares done on the floor, mostly in large parcels, at a price of Rs.65. The counter closed Re.1 up at Rs.61 trading between Rs.60 and Rs.65 contributing Rs.190.7 million to turnover.

Brokers said that it was clear that some large shareholders of LOLC have exited. It appeared that some long held volumes had been disposed in these trades.

"The big trades in Dialog and LOLC accounted for the bulk of the day’s turnover," a broker said. ``There was some retail play on stocks like PC House, Touchwood, PC House Holdings and ERI.’’

At close of trading the ASPI was up 27.88 points (0.47%) and S&P up 5.20 points (0.16%) with 100 losers ahead of 81 gainers while 61 counters closed flat.

"Gains in a selected set of large cap counters pushed the ASPI higher. Market turnover neared the Rs. 1bn mark mainly on the back of trades on LOLC and multiple block trades on DIAL," John Keells Stock Brokers said in a market report.

There was a foreign inflow of Rs. 450.46 million with purchases of Rs. 464.51 million strongly outpacing sales of Rs. 14.05 million.

PC House closed flat at 80 cents on over 38.5 million shares done between 70 cents and 90 cents generating a turnover of Rs.38.5 million; ERI closed 30 cents up at Rs.14.70 on over 1.2 million shares done between Rs.14.10 and Rs.14.80 generating a turnover of Rs.17.6 million.

Touchwood closed 20 cents up at Rs.4.10 on 4 million shares done between Rs.3.90 and Rs.4.20 contributing Rs.16.2 million to turnover and PC House Holdings closed flat at Rs.1.70 on nearly 5.8 million shares done between Rs.1.60 and Rs.1.80 generating a turnover of Rs.9.8 million.

E-Channeling also saw nearly 2.1 million shares traded closing 10 cents up at Rs.8.50. Brokers said that much of this share volume was done in a single trade.

Other counters that showed volume included LIOC up a rupee to Rs.27.50 on 0.7 million shares, Access Engineering up 50 cents to Rs.23 on nearly 0.4 million shares, NTB closing flat at Rs.62.20 on 87,480 shares and Laughs Gas closing 40 cents up at Rs.29.80 on nearly 0.2 million shares.

Dipped Products releasing its half year results posted a decline in revenue in its glove manufacturing sector in the first half attributable to the closure of its factory at Nedungamuwa, Rathupaswala arising from protests from villagers.

The company said that these protests were based "on the misconception that the low pH in the wells of the area was caused by the treated effluent from the glove factory."

Group turnover had been reduced by a 6% in hand protection turnover down to Rs.6.9 billion from Rs.7.3 billion a year earlier. However the company claimed that its first half results demonstrated resilience amidst the setback of the factory closure.
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