Monday, February 6th, 2012 at 4:17 pm
Commercial Bank of Ceylon Plc (COMB) accounted for more than 63 percent of the day’s total turnover. 8,582,900 shares of COMB changed hands and closed 1.50 higher at Rs 102.00. ASI was down by 24.96 points to close at 5561.43 while MPI closed at 4805.99, down 7.13 points. Total turnover amounted to 1.34 billion rupees.
119 stocks closed lower while only 50 stocks closed higher. Index heavy The Bukit Darah Plc was up by thirty-six rupees to close at Rs 997.40 but only 100 shares traded. 1,045,600 shares of Distilleries Company of Sri Lanka traded and closed 80 cents higher at Rs 135.00. Soft Logic Holdings closed at Rs 15.00, up 40 cents.
Illiquid Lanka Ashok Leyland Plc lost 310 rupees to end the day at Rs 2500.00 but only 100 shares done. Carsons Cumberbatch Plc was down by 10.90 to close at Rs 479.00. Bairaha Farms (BFL) lost 8.50 to close at Rs 167.70. Colombo Dockyard Plc closed at Rs 220.00, down five rupees. Environmental Resources Investments Plc lost 50 cents to close at Rs 26.60.
Foreign investors sold Rs 887.91 million worth of stocks and purchased stocks valued at Rs 259.16 million.
Thursday, February 2nd, 2012 at 4:43 pm
After last week rally in Banking Stocks the usual bearish trend in CSE continued for the 3rd consecutive day. At the end of Thursday’s trading CSE All Share Index lost 76.84 points or 1.35 percent to close at 5605.49 while MPI closed 68.35 points lower at 4841.11. Turnover was amounted to 970.12 million rupees.
Heavy trading witnessed in Environmental Resources Investments Plc (GREG) normal shares and warrants. 1,026,400 GREG (N) shares changed hands and closed one rupee lower at Rs 26.00. Over 7.2 million GREG.W0002 traded and closed at Rs 1.60, down 3.90. According to the CSE and in terms of a clarification received from SEC, trading of the GREG.W0002 warrant will not be permitted after 03-02-2012.
Commercial Bank of Ceylon Plc was down by three rupees to close at Rs 101.70. John Keells Holdings Plc closed 2.50 lower at Rs 167.50. Despite 92.29 percent growth in quarterly profit LB Finance lost 5.20 to close at Rs 126.80. Cargills (Ceylon) Plc closed at Rs 5.00 to close at 180 but only 300 shares traded. 6,196,200 shares of Asia Asset Finance (AAF) traded and closed 20 cents lower at six rupees.
CTC a unit of multinational BAT lost nine rupees to close at Rs 490.00. CTC reported earning per share of Rs 35.07 for the year ended 31st December 2011 against Rs 27.21in 2010. Company further said for year 2011, interim dividends totalling Rs 28.90 less tax have been declared and paid already.
Foreigners were net buyers with net inflow of Rs 116,146,473.00.
Monday, January 30th, 2012 at 4:52 pm
Within the first hour of trading ASI crossed 5800 mark with strong gains in banking stocks. However the bullishness was slowed down as investors start to take their profit. At the end of Monday’s trading ASI was up by 30.12 points to close at 5755.56 while Milanka index was up by 54.40 points to close at 4976.21. Total turnover was amounted to 1.40 billion rupees.
Commercial Bank of Ceylon Plc (COMB) voting shares touched Rs 112.00 but closed only1.40 higher at Rs 105.40 while COMB non voting stocks was up by 5.40 to end the day at Rs 88.50. Nation Trust Bank (NTB) closed at Rs 62.10, up 90 cents. 2,856,000 of National Development Bank shares changed hands and closed 3.70 higher at Rs 127.00. Sampath Bank Plc was up by 11.90 to close at Rs 190.50. Hatton National Bank closed 5.70 higher at Rs 150.10. Conglomerate John Keells Holdings Plc (JKH) closed at Rs 170.00, up 2.10. More than 1.2 million shares of Union Bank traded and closed 10 cents higher at Rs 20.10.
Exactly 100 stocks closed on a positive note while 101 stocks lost their value during the trading session. Capital Development and Investment Company Plc was down by 34.30 to close at Rs 245.00. Distilleries Company of Sri Lanka Plc lost three rupees to close at Rs 137.00.
According to the announcement made by Browns Investments (BIL), company has bought 51 percent of Ajax Engineers for 100 million rupees. BIL closed 10 cents higher at Rs 3.90. Ajax Engineers is a leader in installing aluminum curtain walls, doors, windows and glass facades.
Rs 313,969,945.00 net foreign outflow reported for the day.
Friday, January 27th, 2012 at 8:17 pm
ASI was up by 133.04 points or 2.38 percent to close at 5725.44 while more liquid Milanka index was up by 163.35 points or 3.43 percent to close at 4921.81. Total turnover amounted to 1.71 billion rupees.
Almost all banking stocks gained today as Fitch Ratings Lanka issued a positive outlook for Commercial Banks in Sri Lanka. 3,483,500 shares of Commercial Bank of Ceylon Plc (COMB) traded and closed 4.00 rupees higher at Rs 104.00 while Sampath Bank was up by 8.70 to end the day at Rs 178.60. Nation Trust Bank Plc closed at Rs 61.20, up five rupees. National Development Bank closed 4.90 higher at Rs 123.30.
Fitch Ratings Lanka says that its Outlook for the majority of Sri Lankan banks is Stable, underpinned by improved earnings prospects due to post-war growth in the domestic economy as well as the government’s capacity to support the banking system. However, rapid loan growth will test the banks’ risk management systems and funding profiles. They further said that Sri Lankan banking system’s ability to manage above-average loan expansion on a sustained basis. However, the agency believes that any deterioration in asset quality may not be as severe as that seen in 2008 and 2009.
There were 193 gainers and only 20 losers for the day. John Keells Holdings Plc was up by 4.50 to close at Rs 167.90. More than 14 million shares of newly listed Asia Asset Finance Ltd changed hands and closed at Rs 7.10 the same price of the previous day.
Banking stocks may continue to go up during the next week trading.
Thursday, January 26th, 2012 at 5:13 pm
Market has experienced a consolidation after sharp drop witnessed during the first two days of the week. The benchmark All Share Price Index (ASI) was up by 36.11 points to close at 5592.40 while MPI closed 21.53 points higher at 4758.46. Total turnover amounted to 2.29 billion rupees mainly due to larger transactions in John Keells Holdings Plc and Commercial Bank of Ceylon Plc.
John Keells Holdings Plc (JKH), one of the most diversified Blue Chip Company in Sri Lanka reported 56 percent increase in profit to 2.73 billion rupees for the quarter ended 31st December 2011. JKH gained 3.40 to close at Rs 163.40. 8,811,300 shares of JKH changed hands contributing Rs 1.46 billion for the day’s total market turnover. 3,710,200 shares of COMB traded and closed 40 cents higher at Rs 100.00.
There were 91 positive contributors and 87 negative contributers for the day. Sri Lanka Telecom Plc closed at Rs 46.00, up 2.40. The Housing Bank HDFC was up by 118.30 to close at Rs 1213.30 but only 300 shares traded. Union Bank of Colombo Plc was up by 1.10 to end the day at Rs 19.10. Asia Asset Finance (AAF) continues to trade in high volume and closed 60 cents higher at Rs 7.10. More than 11 million shares of AAF changed hands during the day.
Aitken Spence Plc (SPEN) has announced the sale of 30 percent stake in Colombo International Container Terminals Ltd to China Merchants Holdings (International) Company Ltd. They further said the capital gain from this sale of shares will be around Rs 630 million. SPEN closed 50 cents lower at Rs 109.50.
Foreign investors were net buyers with net inflow of Rs 1,027,555,743.00.
Tuesday, January 24th, 2012 at 6:58 pm
Monday’s sharp fall created panic among investors and ASI lost more than 200 points during the early hours of the trading. At the end of the day ASI closed 127 points lower at 5536.09 while more liquid Milanka index lost 100.81 points to close the day at 4710.90. Turnover was 1.28 billion rupees.
When Negativity Surrounds us we get more and more negative news. However there are hidden opportunities even in a bearish market.
Index heavy Carsons Cumberbatch Plc was down by 33.40 to close at Rs 484.10. The Bukit Darha Plc also closed 59 rupees lower at Rs 950.00. John Keells Holdings Plc closed at Rs 160.00, down 4.00. Distilleries Company of Sri Lanka Plc was dipped by six rupees to end the day at Rs 132.00. Environmental Resources Investments Plc (GREG) lost 1.40 to close at 27 rupees. 1,849,100 shares of GREG changed hands during the day.
185 stocks lost their value during the day and only 38 stocks managed to close higher. Illiquid Paragon Ceylon Plc was up by 600 rupees to close at 2000.00 but only 100 shares done. Nation Trust Bank Plc closed at Rs 57.60, up 2.60. Asian Hotels and Properties Plc closed at Rs 71.70, up 1.70.
Rs 179,153,979.00 foreign inflow was witnessed for the day.
Monday, January 23rd, 2012 at 4:49 pm
Selling pressure prevailed throughout the day. All Share Index lost 118.04 points to close at 5663.09 while MPI closed at 4811.71, down 105.18. Turnover was amounted to 827.33 million rupees.
192 stocks closed lower today while only 22 stocks closed higher. Lanka Orix Leasing Plc was down by 4.90 to close at Rs 69.80. Sampath Bank lost five rupees to end the day at Rs 175.00 while Commercial Bank (COMB) closed at Rs 99.00, down one rupee. Distilleries Company of Srilanka closed 3.40 lower at Rs 138.00. 5,991,400 shares of Asia Asset Finance Ltd shares traded and closed 30 cents lower at Rs 5.90.
John Keells Holdings Plc was up by 70 cents to close at Rs 164.00 while Swarnamahal Financial Services Plc (SFS) closed 10.30 higher at Rs 99.60. 835,100 shares of SFS changed hands during the day.
Although most companies are showing good results, recovery of the market is still uncertain in short-term. Therefore it is better to stay with cash or only invest in historically high dividend paying fundamentally sound stocks with long-term view.
There is a big mistake that investors are doing always. If a stock (assume as ABC) traded higher than Rs 200.00 few months back and now trading below Rs 50.00 and still falling, then they think this is very cheap and will go higher again and invest heavily in it. But what will happen if ABC dips below 20.00? Stock needs to show some positive signs of strength before we decide to invest in it.
Thursday, January 19th, 2012 at 5:15 pm
Colombo All Share Index was down by 59.81 points as the bears still dominate the Colombo Stock Exchange. SEC’s relaxation of broker credit rules on Monday didn’t help the market to recover. Despite good valuations it is becoming very hard to predict the recovery.
Most of investors prefer short term speculative trades for quick bucks rather than long to medium term investments. However it is safe to buy stocks with good dividend payments track records and lower PER.
Day’s turnover was amounted to 952.46 million rupees. Commercial Bank of Ceylon Plc (COMB) was the single largest contributor for the total turnover. 2,218,700 shares of COMB traded and closed 20 cents lower at Rs 100.00. Asia Asset Finance Ltd (AAF) continues to trade in large parcels. 23,529,800 shares of AAF changed hands and closed 1.60 higher at Rs 7.10.
138 stocks closed lower while only 51 stocks managed to close higher. Index heavy weighted BUKI lost 49 rupees to close at Rs 1000.00 but only 200 shares done. HDFC lost 50 rupees on 100 shares to close at Rs 1300.00. On positive side, illiquid Pargon Ceylon Plc was up by 440 to close at Rs 1400.00. 1,104,000 shares of Ceylon Tea Brokers Plc traded during the day and closed at Rs 7.40, up 40 cents. John Keells Holdings closed 90 cents higher at Rs 160.10.
Foreigners were net byers with a thin margin. Net foreign inflow was amounted to Rs 8,008,456.00.
Tuesday, January 17th, 2012 at 4:53 pm
Market opened on a higher note responding to the relaxation of Broker Credit Rule by SEC. Initially ASI gained more than 100 points but later came down gradually as investors started to book their profit. At the end of the day ASI closed 4.73 points lower at 5924.61 while MPI closed at 5012.41, down 33.68 points. Day’s turnover amounted to 1.38 billion rupees.
90 stocks made gains while 104 stocks lost their value during the trading session. The newly listed Asia Asset Finance Ltd (AAF) was up by further 2.70 to close at Rs 8.50. More than 45 million AAF shares changed hands during the day. Asiri Central Hospitals Plc was up by 21.20 to close at Rs 199.50 but only 100 shares traded. Hotel Sigiriya (HSIG) was up 5.80 to end the day at Rs 75.80.
Diversified Blue Chip John Keells Holdings Plc closed at Rs 162.50, down 2.10. Trans Asia Hotels Plc lost 3.60 to close at Rs 65.70. Singer Sri Lanka closed 5.60 lower at Rs 124.90.
Renuka Agri Foods Plc (RAL) has made an announcement regarding share purchase agreement entered with RichLife Dairies Ltd. According to the announcement RAL will purchase 76 percent of the issued capital of Richlife Dairies. RAL closed 10 cents higher at Rs 6.90.
Foreign investors were net sellers with net outflow of Rs 75,553,946.00.
Thursday, January 12th, 2012 at 5:35 pm
Sri Lanka Stocks closed higher as investors are anticipating positive news from Securities Exchange Commission of Sri Lanka (SEC). Market witnessed sharp decline last year after imposing strict broker credit rules. However it was done to prevent large-scale market manipulations.
At the end of Thursday’s trading ASI closed 77.41 points or 1.32 points higher to close at 5942.47 while MPI closed at 5065.68, up 55.46 points. Total turnover improved to 1.06 billion rupees.
Asia Asset Finance Limited (AAF.N0000) trading commenced today and closed 1.70 higher than IPO price at Rs 4.20. Its parent company Asia Capital Plc was up by five rupees to close at Rs 66.20. GREG was up by 5.30 to end the day at Rs 34.40. Index heavy weighted Fixed Line Telecom giant SLTL closed at Rs 47.00, up one rupee.
176 stocks made gains while only 33 stocks closed lower. John Keells Holdings Plc closed 2.30 lower at Rs 163.90. Aitken Spence Plc lost 1.50 to close at Rs 113.50. Aitken Spence has issued a statement as a clarification with regard to News Paper Article. Company said that they are currently negotiating with the shareholders of the Colombo International Container Terminal Ltd about the matter that published in Daily FT. The news paper reported Aitken Spence Plc’s possible pullout from Sri Lanka’s biggest ever FDI project.
Foreign investors were net sellers with net outflow of Rs 24,140,725.00.
