Sri Lanka stocks close up 0.2-pct

Jan 09, 2014 (LBO) – Sri Lanka stocks end 0.25 percent higher Thursday with tobacco and diversified stocks gaining, brokers said.

The Colombo benchmark All Share Price Index closed 14.87 points higher at 6,069.34, up 0.25 percent. The S&P SL20 closed 12.08 points higher at 3,362.39, up 0.36 percent.

Turnover was 1.57 billion rupees, up from 849.52 million rupees a day earlier, with stocks of 89 firms closing in the red against 100 gainers.

JKH topped the market turnover list with transactions of 170.77 million rupees contributing to 11 percent of total turnover today.

Chevron Lubricants closed 90 cents lower at 273.50 rupees with off market transactions of 391.46 million rupees contributing to 25 percent of turnover.

The Finance Company closed 10 cents higher at 12.30 rupees, attracting most number of trades during the day.

Foreigners bought 882 million rupees worth shares while selling 773 million rupees of shares.

Carson Cumberbatch closed 14.90 rupees higher at 369.90 rupees and Ceylon Tobacco Company closed 13.20 rupees higher at 1,219.50 rupees, contributing most to the index gain.

Nestle Lanka closed 40.60 rupees higher at 2,166.80 rupees and Cargills Ceylon closed 4.10 rupees lower at 144.50 rupees.

Commercial Leasing and Finance closed 20 cents higher at 4.00 rupees and JKH closed 2.50 rupees lower at 232.50 rupees.

JKH’s W0022 warrants closed 4.00 rupees lower at 85.10 rupees and its W0023 warrants closed 4.20 rupees lower at 92.10 rupees.

Distilleries closed flat at 200.00 rupees and Bukit Darah also closed flat at 620.00 rupees.

Ceylinco Insurance closed 93.50 rupees lower at 1,206.50 rupees and Lanka Orix Leasing Company closed 80 cents higher at 72.00 rupees.

Aitken Spence closed 1.20 rupees lower at 104.80 rupees and Lion Brewery closed flat at 374.90 rupees.

Sri Lanka Telecom closed 40 cents lower at 37.10 rupees and DFCC closed 1.90 rupees higher at 142.00 rupees.
www.lbo.lk

The Colombo equities trimmed its early gains on Thursday but managed to close higher on persistent foreign inflows. The main share index resumed higher at 6,056 and hovered in a range of 6,052-6,087 before closing at 6,069.34, an increase of 14.87 points or 0.3% from its last close. The 20-script S&P SL index closed at 3,362.39 with a gain of 12.08 points or 0.4%.

Gainers outweighed losers 115 to 91 and cash-map declined to 51%.

Price appreciations were seen in index heavy counters such as Ceylon Tobacco (LKR 1,230.00+2%), Carson Cumberbatch (LKR 369.90,+4.2%), Nestle Lanka (LKR 2,183.10,+2.7%) and Commercial Leasing & Co (LKR 4.10,+7.9%).

John Keells Holdings closed at LKR 230.10, down by 2.1%.

The turnover crossed LKR 1.5bn mark after two months
The daily turnover reached LKR 1.6bn supported by several negotiated deals in selected blue-chips. 1.4mn shares of Chevron Lubricants (at LKR 273.50), 0.6mn shares of John Keells Holdings (at LKR 232-235.00), 0.5mn shares of Hatton National Bank (at LKR 150.50-151.00), 0.5mn shares of DFCC Bank (at LKR 142.00) and 0.2mn shares of Commercial Bank (at LKR 125.00) changed hands in ten off-the-floor deals. These transactions together contributed LKR 707mn (or 45%) to the market turnover. Chevron Lubricants emerged as the top contributor to the turnover (LKR 395mn) closely followed by John Keells Holdings (LKR 306mn) and Sampath Bank (LKR 121mn).

Small cap finance companies were heavily traded today
The Finance Co voting and nonvoting shares were the mostly traded stocks today. The Finance – voting share closed at LKR 12.30, +0.8% while nonvoting share closed at LKR 6.00,+20%. Furthermore, Asia Asset Finance and Nation Lanka Finance attracted retail investor interest today. Asia Asset Finance closed at LKR 1.80,-5.3%. Nation Lanka Finance closed at LKR 7.70, +4.1%. Nation Lanka Finance’s 77% owned subsidiary, Millennium Housing Developers Ltd is opening its IPO subscription list on 28th Jan, marking the first IPO in 2014. The company is offering 32mn shares, in two equal tranches, at LKR 6.00 per share.

Foreign investors extended their net buying streak to a fifth consecutive session
Today foreign inflows amounted to LKR 109mn and foreign participation accounted for 53% of the market activity. Net foreign inflows were reported in counters such as John Keells Holdings (LKR 58mn), Commercial Bank (LKR 43mn) and Ceylon Tobacco (LKR 12mn) while outflows were reported in counters such as John Keells Holdings – warrant 23 (LKR 26mn) and Sampath Bank (LKR 12mn).

Trade deficit contracted by 44% to USD 616mn in November 2013
According to the statistics released by Central Bank of Sri Lanka, the earnings from exports increased for the ninth consecutive month to USD 1,032mn led by earnings from export of textiles and garments. The textile and garments segment reported the highest ever monthly value of USD 491mn in November, which is an increase of 35%YoY. The expenditure on imports declined 14%YoY to USD 1,648mn in November. This was partly due to the 24% decline in crude oil and refined petroleum imports due to the availability of sufficient stocks. Further, workers’ remittances and earnings from tourism improved to USD 599mn (+22%YoY) and USD 120mn (+5%YoY) respectively. By end of November, the country’s gross official reserves amounted to USD 6.9bn which was equivalent to 4.5 months of imports.

Thanks Redbulls and Sri.

Top 10 Foreign Purchase/Sales as per JBS as follows.