S&PSL20 Coming Week

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S&PSL20 Coming Week

Postby SHARK » Fri May 29, 2015 12:44 am

Adding another thread on our newest Index. This should be great if both indices could be discussed with charts ;;)

The S&P Sri Lanka 20 covers the largest and most liquid stocks from the Sri Lankan equity market and is designed to be the basis for tradable products. The index is based on S&P Indices' global index methodology, which provides consistency, transparency and liquidity.

The S&P Sri Lanka 20 seeks to be comprised of liquid and tradable stocks for easy and cost effective replication as trading instruments, with possible application as index funds and Exchange-Traded Funds (ETFs). Index constituents are the 20 largest blue chip companies chosen from the universe of all stocks listed on Colombo Stock Exchange. The indices are calculated using a capped market capitalization-weighting scheme (capped at 15%).


Currency of Calculation
The S&P Sri Lanka 20 is calculated in Sri Lankan Rupee.

Base Date
The base period of the S&P Sri Lanka 20 is December 17, 2004. The base value is 1000.

Eligible Securities
Only companies established in Sri Lanka and listed on the Colombo Stock Exchange are included in the S&P Sri Lanka 20. All common shares are eligible for inclusion in the index. Convertible stocks, bonds, warrants, rights, and preferred stocks that provide a guaranteed fixed return are not eligible.

Eligibility Criteria
Stocks are eligible for inclusion in the S&P Sri Lanka 20 if they meet the following criteria for size, liquidity and financial viability.

Market Capitalization
The S&P Sri Lanka 20 is designed to include liquid investable stocks from the Sri Lankan equity market. Market capitalization is a key criterion for stock selection. Stocks must have a float-adjusted market capitalization above 500 million Sri Lankan Rupee (Rs) as of the rebalancing reference date. Stocks that meet the liquidity criteria (defined below) are ranked by total market capitalization. The 20 largest stocks are included in the S&P Sri Lanka 20, subject to a 3 stock buffer for current index constituents. If a current index constituent is ranked in the top 23, it remains in the index. If not, the stock is deleted and the next largest stock, that is not an index constituent, is added.

Additionally, if a current index constituent falls below the Rs 500 million threshold but is no less than Rs 300 million then the stock remains in the index provided it ranks among the top 23 by market cap and also meets the other inclusion criteria.

Liquidity
To ensure investability, a minimum six-month average daily value traded (ADVT) of Rs 1 million is required. At each annual reconstitution, if a current index constituent falls below Rs 1 million but is no less than Rs 0.7 million then the stock remains in the index provided it also meets the other eligibility criteria. All eligible stocks are required to trade a minimum of 10 days each month for the three months prior to the annual rebalancing reference date.

Financial Viability
Stocks must be profitable, as measured by positive net income over the latest 12-month period, as of the rebalancing reference date. The figure is calculated by adding the latest four quarters of net income reported for the company.

Timing of Changes
The index is reconstituted once a year in December. The annual reconstitution is effective after the market close on the third Friday in December. The reference date for the data used in the review is the last trading day in November. New constituents and index shares are made available to clients with a five-day notice.

Additions
An index addition is generally made only if a vacancy is created by an index deletion. The selection criterion for the addition is consistent with that of index constituents, namely size and liquidity. With IPOs, the Index Committee considers the inclusion of new listings during the regular index reviews using consistent market capitalization and expected trading volume guidelines. An exception is made for extraordinarily large offerings where the IPO stock’s float-adjusted market capitalization ranks in the top five of the index. With Committee approval, these stocks are added as soon as practical, with the exact date depending upon the announced date of share issuance and allowing for a reasonable time period for funds to adjust their portfolios.

Deletions. A guiding principle of index management is the minimization of turnover among index constituents. The most common reason for deleting a stock from the index is its acquisition by another company. Other reasons for deleting a company are as follows.
•Bankruptcy: Once a company applies for bankruptcy proceedings, it is deleted from the S&P Sri Lanka 20.
•Reorganization: The Index Committee analyzes the company’s reorganization plan before deciding whether the reorganized company and/or any spin-offs will retain index membership.
•Other reasons: A company may no longer meet the eligibility criteria for index inclusion for reasons such as the inability of a stock to reflect the market due to a large change in size or liquidity. In addition, a company is removed from the index, as soon as practical, if it is listed for closer supervision by the exchange.

S&P Indices believes turnover in index membership should be avoided when possible. At times a company may appear to temporarily violate one or more of the addition criteria. However, the addition criteria are for addition to an index, not for continued membership. As a result, an index constituent that appears to violate criteria for addition to that index will not be deleted unless ongoing conditions warrant an index change.

Index Maintenance
Changes in the index level reflect changes in the float-adjusted market capitalization of the index that are caused by stock price movements in the market. They do not reflect changes in the market capitalization of the index, or of the individual stocks, which are caused by corporate actions such as dividend payments, stock splits, distributions to shareholders, mergers, or acquisitions. When a corporate action affects the price of a security – such as when the price drops on a special distribution ex-date – the price of the security is adjusted to reflect the ex-date change and the index divisor is adjusted to offset any change in the total available market value of the index.

When a stock is replaced by another stock, the index divisor is adjusted so that the change in index market value that results from the addition or deletion does not change the index level.

Rebalancing
The Index Committee reviews the S&P Sri Lanka 20 constituents annually. Any index constituent change is implemented after the market closes on the third Friday of December. The data review reference date is the last trading date in November. The eligible universe of stocks is also reviewed on a quarterly basis. At that time, the Committee may decide to adjust constituent stock selection in relation to changes in market conditions resulting from issuance of new shares, company mergers and other corporate actions. All relevant announcements are sent to clients five-days before the effective date of any needed adjustment. The Index Committee takes every care to reduce index turnover.

5% Rule
All share changes of 5% or more are made at the effective date, or as soon as reliable information is available. Changes of less than 5% are implemented at the following quarterly rebalancing, which is scheduled on the third Friday of March, June, September and December. Investable Weight Factor (IWF) changes of 5% or more resulting from a major shareholder’s change in holdings are applied immediately. Changes of less than this are applied at annual reviews.

Capping
Stocks that exceed the 15% cap between rebalancings are brought back to 15% at each quarterly rebalancing.

Corporate Actions
Maintaining the S&P Sri Lanka 20 includes monitoring and completing the adjustments for company additions and deletions, share changes, stock splits, stock dividends, and stock price adjustments due to restructurings or spin-offs. Some corporate actions, such as stock splits and stock dividends, require simple changes in the common shares outstanding and the stock prices of the companies in the index. Other corporate actions, such as share issuances, change the market value of an index and require an index divisor

adjustment to prevent the value of the index from changing. Adjusting the index divisor for a change in market value leaves the value of the index unaffected by the corporate action. This helps keep the value of the index accurate as a barometer of stock market performance, and ensures that the movement of the index does not reflect the corporate actions of the companies in it. Divisor adjustments are made after the close of trading and after the calculation of the closing value of the index. Corporate actions such as splits, stock dividends, spin-offs, rights offerings, and share changes are applied on the ex-date.

https://www.cse.lk/spsl.do
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Jun 05, 2015 9:08 pm

Not able to see Charts on this :(
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Oct 15, 2015 2:36 pm

S&PSL20 chart for a possible rebound .......

Could NDB and JKH in near reversal to the better side ......

Please accumulate 3750 could be a reversal as per INDEX pitchfolk drawn up ......

Reporting 1st in an srilanka equity forum ..... made in TEC :D
sp.png


Should re activate our PP indicator on weekly basis :-bd
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Oct 15, 2015 2:40 pm

NDB BUY 215/200 Both Levels accumulation
JKH 170/160 Both Levels accumulation

S&P SL20 Index would be looking for a rebound.

Look at other counters such as COMB HNB & LLUB

look at these PA and BUY when dips from now onwards.
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Oct 15, 2015 2:46 pm

NDB 215
JKH 170
LLUB 359
COMB 156 &
HNB 213

all are closer to psychological SUPPORT levels with S&P around 3780 and closer to 3750 SUPPORT.

something interesting has to take place within very short period of TIME :D

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Re: S&PSL20 Coming Week

Postby SHARK » Thu Oct 15, 2015 2:48 pm

I suggest we need to consider the Giants .... and have it as many as possible .....
when rally start you need most of weight to be shouldered by the likes of JKH LLUB NDB and HNB
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 8:54 am

SHARK wrote:NDB 215
JKH 170
LLUB 359
COMB 156 &
HNB 213

all are closer to psychological SUPPORT levels with S&P around 3780 and closer to 3750 SUPPORT. :-?

something interesting has to take place within very short period of TIME :D

SHARK

JKH 170---->165 already touched
LLUB 359---->340/350 pending ?
HNB 213---->210/200 pending ?
COMB 156----> need to check the chart on this one.
NDB 217---->210/200 pending ?

:ymdaydream:
Reversal probably may take closer to these levels, the performance of S&PSL20 3750~3650 :-??

Looking at ASPI we see 7000/6950 could be levels for the reversal going by the hint of the above shares CMP. :-bd

Just be patience, dont sell off ...... turnaround is closer :ymhug:
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 8:55 am

This the best time to accumulate above shares in particularly :)
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Re: S&PSL20 Coming Week

Postby SMR08 » Fri Oct 16, 2015 9:01 am

No money no honey :)

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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 10:54 am

Is the market in correction mode for the future foreigners to BUY back :D
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 10:56 am

CSE is full of surprises :)

Timing become more important, that I learnt from LIOC :D
no matter how good a stock you have, timing becomes a integrity part in your trading arsenal :D
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 11:01 am

Now is the time to gradually up our game and BUY those precious stocks.

HNB
JKH
NDB
COMB
LLUB

Love to see NEST right now... seem to have stagnated for longtime IMO
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Re: S&PSL20 Coming Week

Postby SHARK » Fri Oct 16, 2015 11:02 am

HHL is another GEM in the making ..... sooner could see onto 3 digit
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Re: S&PSL20 Coming Week

Postby SHARK » Sat Oct 24, 2015 11:53 pm

It s wiser to have in your PF some Blue chip companies as we had seen S&P at LOWs. With ASPI to mark record HIGHs, there is more opportunity for the GIANTS to appreciate along as MARKET indices GAIN.
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Re: S&PSL20 Coming Week

Postby SHARK » Mon Oct 26, 2015 10:06 am

S&P20 will get boost naturally when bluechips share price rise :) seem 3750/3650 support to be considered as important
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Re: S&PSL20 Coming Week

Postby SHARK » Mon Oct 26, 2015 10:07 am

some smart players compare index to individual share price, in order gain maximum and to beat the market :)
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Re: S&PSL20 Coming Week

Postby SHARK » Sun Nov 01, 2015 1:09 am

Can someone be serious enough to buy nest ctc n llub at cmp
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Re: S&PSL20 Coming Week

Postby SHARK » Sun Nov 01, 2015 9:40 am

The media as I said have fed into our minds that a us fed rate hike will not be good for local stock market. Now who has a study report on this. without giving proof why one should believe it so. One need to carefully study how rate hike alone will impact our markets. There needs to be some other factors in tandem to realize this isn't it. We need to study the historical price movements when rates were high what was our market behavior during that period.
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Re: S&PSL20 Coming Week

Postby SHARK » Sun Nov 01, 2015 9:43 am

Watching markets in turmoil and what should you do? Gives us great insight to really understand how investors and retailers react to varying opportunity.
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Re: S&PSL20 Coming Week

Postby SHARK » Sun Nov 01, 2015 9:52 am

We have not be in similar situations in the past, with rate hike looming around, equally China devaluation lower commodity prices lower oil prices with India yet to fully gear up with its reforms under modi government.... There could be many other factors need to analyze before investors pulling out from Srilanka isn't it? Initial knee jerk reaction would be there as investors following media n brokers. So do your homework and buy shares that have recorded min 20% ROE through out last 5-10 years or more
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Re: S&PSL20 Coming Week

Postby Contra » Sun Nov 01, 2015 10:24 am

viewtopic.php?f=3&t=1319&hilit=fed+rate

The Fed's plan to hike interest rates[/b][/color]

Quoted from above link.

There are contradictory statements on fed interest rate.

When that happens, it will bring investor confidence. Global market has already factored to bad news. There are lot of speculation like India and Mexico will be winners and Gulf States will be losers when the Fed raises rates. It is similar to speculation made in the past for end of QE.

As long as assets and markets have great value, there will demand for them. Even now it is happening globally. Funds mangers want to keep diversify portfolio rather than parking their money in one geographical area. In addition normally fund mangers will allocate more fund to defensive sector such as food, health care and other consumer products during period of uncertainly and speculation. It is good news for the export sector in Asia as well. In every situation there are winners.


http://www.benzinga.com/opinion/15/09/5 ... eds-yellen

Stock Market Welcomes Business As Usual From Fed's Yellen
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Re: S&PSL20 Coming Week

Postby SHARK » Tue Nov 17, 2015 12:05 am

snp20.png
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Nov 26, 2015 9:23 am

Look at the Possible Reversal around 3700 levels which is 50% correction support coming in.
Its reassuring to see we are in one of the most worst performance months in the years..... and that recovery is on its way effective December :D

This is the Chart ... arrow indicate Test of RES :)
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Nov 26, 2015 9:23 am

snp20.png


comments :ymapplause: are welcome :)
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Re: S&PSL20 Coming Week

Postby SHARK » Thu Dec 17, 2015 11:08 am

Here is the List of Counters that would be in S&PSL20 effective 21.12.15

https://www.cse.lk/cmt/upload_cse_annou ... 53743_.pdf

In Alphabetical Order :)
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