Bourse edges up, several large trades in listed debentures

Redbulls · 1 Sri Lanka stocks closer higher Wed Dec 04, 2013 6:02 pm

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Dec 04, 2013 (LBO) - Sri Lanka stocks closed higher Wednesday with diversified stocks gaining amid foreign buying ending two days of losses, brokers said.

The Colombo benchmark All Share Price Index closed 9.80 points higher at 5,782.92, up 0.17 percent. The S&P SL20 closed 4.11 points lower at 3,165.05, up 0.13 percent.

Turnover was 794.49 million rupees, down from 960.76 million rupees a day earlier, with stocks of 72 firms closing in the red against 74 gainers.

Commercial Leasing and Finance closed 10 cents lower at 3.80 rupees with an off market transaction of 200 million rupees contributing to 25 percent of total turnover.

Dankotuwa Porcelain closed 1.10 rupees higher at 14.00 rupees attracting more retail investor interest during the day.

Foreigners brought 178 million rupees worth shares while selling 123 million rupees of shares.

Ceylon Tobacco Company closed 10.90 rupees higher at 1,115.00 rupees and Lanka Orix Leasing Company closed 2.50 rupees higher at 77.50 rupees, contributing most to the index gain.

NDB closed 6.90 rupees higher at 160.00 rupees and Aitken Spence Hotel Holdings closed 3.20 rupees lower at 63.50 rupees.

Carson Cumberbatch closed 5.10 rupees lower at 349.90 rupees and Cargills Ceylon closed 3.30 rupees lower at 146.70 rupees.

Distilleries closed 1.00 rupee higher at 186.00 rupees and JKH closed 10 cents lower at 210.00 rupees.

JKH’s W0022 warrants closed 2.00 rupees higher at 59.00 rupees and its W0023 warrants closed 2.10 rupees higher at 66.00 rupees.

Nestle Lanka closed 8.60 rupees higher at 1,943.60 rupees and Dialog Axiata closed flat at 9.00 rupees.

Sri Lanka Telecom closed 30 cents higher at 38.00 rupees and Bukit Darah closed 1.30 rupees lower at 625.00 rupees.

Commercial Bank closed 60 cents lower at 115.00 rupees and HNB closed flat at 143.50 rupees. Sampath Bank closed 2.60 rupees higher at 166.90 rupees and DFCC closed 1.80 rupees higher at 121.80 rupees. Ceylinco Insurance closed 19.00 rupees higher at 1,250.00 rupees and Touchwood Investments closed 10 cents lower at 2.90 rupees.

Lanka IOC closed 20 cents higher at 31.80 rupees.

Swarnamahal Financial Services closed flat at 2.10 rupees.
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COLOMBO, Dec 4 (Reuters) - The Sri Lankan bourse hit a near two-week high on Wednesday, led by banking shares with block deals boosting the day's turnover, but wary investors waited for clarity on earnings and interest rates ahead of the monetary policy rate decision early next week.

The main stock index rose 0.17 percent, or 9.8 points, to 5,782.92. This was the market's highest close since Nov. 22.

'There were some local institutional activities, but retail investors were not active,' said a stockbroker asking not to be named.

Analysts also said investors are waiting for the policy rate decision for direction and earnings amid dented confidence after tax hikes announced for the 2014 budget.

The market has been in a downward trend after the September-quarter earnings pointed to slower growth. Investors are worried that new taxes announced in the budget last week could hit consumer spending and thus revenues of listed firms.

Research published by John Keells Stock Brokers showed cumulative September-quarter earnings reported by 263 companies out of 288 listed firms fell 28.1 percent year-on-year.

The day's turnover was 794.5 million rupees ($6.1 million), boosted by block trades in Capital Trust, which accounted for 24 percent of the day's turnover. This year's daily average turnover is around 845.5 million rupees.

Shares in large-cap Ceylon Tobacco Co rose 0.99 percent to 1,115 rupees, while National Development Bank rose 4.51 percent to 160 rupees.

Foreign investors were net buyers of 55 million rupees worth of shares, extending year-to-date net inflows to 22.46 billion rupees.

($1 = 130.8500 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/2013/12/04/3700425.htm?c=1&t=

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The Colombo bourse yesterday edged upwards on a turnover of Rs.794.5 million, down from the previous day’s Rs.960.7 million, with the All Share Price Index gaining 9.80 points (0.17%) while S&P SL20 was up 4.11 points (0.13%), with 94 gainers ahead of 72 losers while 72 counters closed flat.

"Block trades accounted for Rs.375 million of the day’s turnover with crossings in Expolanka, JKH, LOLC and Commercial Leasing," a brokers said. "There was very little retail activity but some large blocks of listed debentures changed hands."

"The ASPI ended marginally higher amid a slight drop in turnover levels which were largely centered around trades on finance and diversified counters, inclusive of crossing," John Keells Stock Brokers said.

JKH led transactions on the floor closing 10 cents down at Rs.210 on over 0.4 million shares done between Rs.209.90 and Rs.210 contributing Rs.86.9 million to turnover followed by LOLC closing Rs.2.50 up at Rs.77.50 on 0.9 million shares done between Rs.74.40 and Rs.80.50.

Brokers said that Commercial Leasing & Finance, where a parcel of 40 million shares was crossed at Rs.5 contributing Rs.200 million to turnover, has seen several large trades in recent days.

In other crossings, Expolanka saw a parcel of 5 million shares crossed at Rs.7.40 contributing Rs.37 million to turnover, JKH a parcel of 0.1 million shares crossed at Rs.210 contributing Rs.21 million to turnover and LOLC with two parcels totaling 1.5 million shares crossed at Rs.78 contributing Rs.117 million to turnover.

Large trades on the floor included over 3.5 million Expolanka closing 20 cents up at Rs.7.60, over 0.2 million Commercial Bank (non-voting) closing flat at Rs.88 and 14,201 Ceylinco Insurance closing 90 cents up at Rs.1,450.

NDB closed Rs.8.90 up at Rs.162 on 99,995 shares, Sampath Rs.2.60 up at Rs.166.90 on 83,641 shares and NTB 20 cents up at Rs.61.50 on nearly 0.2 million shares.

Access Engineering announced an interim dividend of cents per share for 2013/14 XD from Dec. 12 with payment on Dec. 20.
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