ASPI crashes through 5,900-point barrier

Redbulls · 1 ASPI hover around 5,900 levels Thu Nov 07, 2013 4:59 pm

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WRITTEN BY THARANGA SENARATNE

Nov 07, 2013 (LBT) - Indices traded on a lackluster momentum: The market movements were lacklustre with very little movements in the indices. ASPI closed with a marginal dip of 7 points and ended at 5,906.18 near the technical 5,900 support line. Gains recorded in Dialog Axiata(+1.11%) and Nestle Lanka (+0.69%) and the price dips in DFCC Bank (-3.09%) and Commercial bank of Ceylon (-0.85%) held the ASPI in marginal grounds. S&PSL20 too followed the same trend and closed at 3254.89. Turnover levels were strong backed by off-board transactions adding 52% to daily turnover.

Crossings in JKH and UML: United Motors Lanka recorded a single crossing 2.3mn shares which changed hands at LKR108.0. The counter denoted minimal on board interest and ended at LKR109.0. John Keells Holdings too contributed to the crossings board by adding a single block of 195k shares at LKR223.0. On board interest on JKH was low and settled with a marginal loss at LKR223.8.

On board interest in SPEN and AEL: Aitken Spence spearheaded the on board turnover supported by many mid –sized block, the largest being 99k shares and settled at LKR113. Access Engineering continued to attract on board interest and it touched a 52 week high price (on board) of LKR23.0 at its close. Retail interest on selected counters: Retail investor interest was concentrated on Orient Garments, Touchwood Investments and PCH holdings.
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K.Haputantri · 2 Re: ASPI crashes through 5,900-point barrier Thu Nov 07, 2013 5:18 pm

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No mention about CTC, why.

sriranga

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COLOMBO, Nov 7 (Reuters) - Sri Lankan stocks fell for a fifth straight session on Thursday and closed at their lowest level in one month, led by blue chips in low trading volume as concerns over poor earnings dented investor sentiment.

The main index fell 0.6 percent, or 35.71 points, erasing 14.8 billion rupees ($112.87 million) from the market capitalisation. The index ended at 5,870.47, its lowest close since Oct. 7.

'Expectations of sluggish earnings in the September quarter have been the reason for the negative sentiment,' a stockbroker said.

Top conglomerate John Keells Holdings, which fell 0.6 percent to 222.50 rupees, posted a 15 percent fall in its net profit in the September quarter.

Raft of listed firms are expected to release their quarterly earnings during this month.

The day's turnover was 688 million rupees ($5.25 million), less than this year's daily average of about 864 million rupees.

Foreign investors were net buyers of 2.5 million rupees worth of shares and the island nation's bourse has seen a net year-to-date foreign inflow of 23.56 billion rupees.

($1 = 131.1250 Sri Lanka rupees)

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)

(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net twitter.com/shiharaneez)
http://www.xe.com/news/2013/11/07/3647857.htm?c=1&t=

Redbulls · 4 Re: ASPI crashes through 5,900-point barrier Thu Nov 07, 2013 7:40 pm

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K.Haputantri wrote:No mention about CTC, why.

CTC seems to be calculated transfer between two foreign parties.

Kumar · 5 ASPI crashes through 5,900-point barrier Fri Nov 08, 2013 1:37 am

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Ceylon Tobacco and Nestle drive down indices

The All Share Price Index on the Colombo Stock Exchange yesterday crashed through the 5,900-point barrier closing 35.71 points (0.60%) down at 5,870.4 points largely on account of the fall in the prices of pricey blue chips Ceylon Tobacco ad Nestle, brokers said.

"For a little over three week the ASPI had moved between 5,900 and 6,000 without being able to break the 6,000 point resistance barrier at the upper level nor falling below 5,900," a broker said. "That picture changed yesterday largely on account of Nestle and Ceylon Tobacco which contributed over 60% of the day’s turnover in block trades."

The market closed posting a turnover of Rs.688 million, up from the previous day’s Rs.571.8 million, with S&P SL20 too down 11.18 points (0.34%) and 180 losers way ahead of 49 gainers while 147 counters closed flat.

Block trades in CTC where 0.2 million shares were traded at a price of Rs.1,105.70 contributing Rs.223.8 million to turnover and Nestle where 93,406 shares were done at Rs.1,938.30 contributing Rs.180.7 million to turnover constituted the bulk of the day’s business volume.

There were crossings of Expo (voting) with nearly four million shares done at Rs.7.30 contributing Rs.28.9 million to turnover.

``Declines outweighed advances by more than 2:1 at market close, pushing the ASPI lower for a fourth consecutive day. Crossings on CTC and NEST accounted for a dominant share of market turnover," John Keells Stock Brokers said in their market report.

Foreign purchases and sales were on an even keel with a marginal infow of Rs. 2.51 million with purchases at Rs. 459.35 million and sales at Rs.456.84 million.

On the trading floor, JKH which closed Rs.1.30 down at Rs.222.50 trading between Rs.222 and Rs.223.90 contributing Rs.35.7 million to turnover led the turnover league.

Other blue chips that showed volume included Guardian closing flat at Rs.185 with 50,101 shares traded generated a turnover of Rs.9.3 million.

Among the most traded stocks on the floor were Expo with 2 million shares done closing flat at Rs.7.40, Vallibel One with 0.8 million shares done closing flat at Rs.17, Access Engineering closing 10 cents down at Rs.22.90 on nearly 0.5 million shares and PC House (voting) closing 10 cents down at 80 cents on over 12.6 million shares.

Touchwood closed 10 cents down at Rs.3.80 on 2.2 million shares, Textured Jersey closed flat at Rs.15.70 on nearly 0.5 million shares and Tokyo (voting) closed 40 cents down at Rs.26.50 on nearly 0.3 million shares.

JKH announced a dividend of one rupee for 2013/14 also payable on shares issued following the recent rights issue XD from Nov. 18 and with payment on Nov. 27.

Hemas announced a first interim dividend of 30 cents for 2013/14 XD from Nov. 18 and with payment on Nov. 26.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=91637