Market Review

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Re: Market Review

Postby PAT » Sat Feb 03, 2018 1:45 am

Sri Lanka stocks gain 0.34-pct, rupee slides

ECONOMYNEXT - Sri Lanka stocks closed 0.34 percent higher on domestic interest in insurance stocks like Janashakthi, while the rupee continued to slide against the US dollar, dealers and brokers said.

The rupee closed at 154.30/40 to the US dollar in the spot market, down from 153.15/45 with strong demand for dollars, dealers said.

The rupee is down from 153.65/75 last Friday. Since the end of the last balance of payments crisis, Sri Lanka is operating a 'flexible exchange rate' which so far has resulted in an inflationary downward crawling peg, analysts say.

The Colombo All Share index gained 22.01 points to close at 6,520.46. The S&P SL20 index of more liquid shares closed 0.23 percent higher, up 8.78 points to 3,751.95.

"The market was driven by domestic participation with foreign investors not so active," says Kanishka Perera, Head of Research at Asia Securities.

"There was interest in Janashakthi Insurance and also Softlogic Holdings," he said

Janashakthi Insurance closed up six rupees at 27.80 rupees after Munich, Germany, based insurer Allianz said it would acquire Janashakthi's general insurance business at a premium for 16.4 billion rupees.

Softlogic Holdings closed unchanged at 16 rupees. In January the company announced a rights issue and private placement at 17 rupees per share to raise eight billion rupees to retire debt.

Janashakthi Insurance, Cargills, Nestle and Ceylon Tobacco weighed positively in the benchmark index.

Supermarket chain Cargills closed 11.20 rupees higher at 209.20 rupees and Nestle gained 40.10 rupees closing at 1,740. Ceylon Tobacco closed 9.80 rupees higher at 1,089.80 rupees.

Market turnover was 1.2 billion rupees, up 35.5 percent from Thursday's close.

Net foreign selling was 3.77 million rupees, compared to net buying of 243.7 million rupees the previous day.

Foreign buying in Nestle was 94 million rupees, Asia Securities said.

Foreign selling in Ceylinco Insurance (down five rupees to 825 rupees) was 54.8 million rupees.

Crossings or off market negotiated trades amounted to 20 percent of market turnover.

Access Engineering, down 10 cents to 23.10 rupees, saw two crossings totalling 181.4 million rupees.

Two crossings in Nestle Lanka amounted to 61.2 million rupees. (COLOMBO, Feb 02, 2018)
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Re: Market Review

Postby Blue Whale » Sat Feb 03, 2018 9:57 am

Thanks PAT
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Re: Market Review

Postby Spy878 » Sat Feb 03, 2018 6:43 pm

Anyone has the Technical Analysis Report - February 2018.

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Re: Market Review

Postby Blue Whale » Sat Feb 03, 2018 9:45 pm

NC will have it.
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Re: Market Review

Postby PAT » Sun Feb 04, 2018 1:47 am

CSE poised for takeoff post-elections - Analysts

Sri Lanka’s capital market is expected to witness a resurgence with the current uncertain political outlook clearing up, following the local government elections on February 10, equity market analysts opine.

According to Strategy Report 2018 published by First Capital Research recently, although market returns will be slow, the equity market is, however, expected to generate returns of 10% to 12%, above the expected earnings performance as some counters are likely to re-rate with expected better earnings outlook in the future.

“The ASPI index is expected to reach 7000 (+10% or +650 points) towards end of 2018. Market returns are likely to accelerate towards 2019 to reach 8000 level (+15% or +1000 points) with the actual earnings performance and renewed investor confidence,” analysts said in the report titled ‘Tough Conditions, but Cautiously Optimistic 2018’.

However, they noted that these targets are highly dependent on the continuity of the current stable outlook and reform agenda during 2018, which in turn will substantially enhance business confidence and consumer demand from the second half of this year.

Meanwhile, speaking along a similar vein, Former President of the Colombo Stock Brokers Association (CSBA), Ravi Abeysuriya said that he is optimistic the bourse will gain momentum as the country is economically getting better with the real economic strategies getting into action.

“I certainly see the market taking off and it is only a question of ‘when’ and not whether it will happen. Business activities are improving, growth momentum is there, FDIs have been increasing and the FTAs are also falling into place. So it all points to the positivity,” Abeysuriya said.

On the other hand, Abeysuriya pointed out that the lack of ‘institutional play’ by State institutions such as the EPF, ETF, SLIC and NSB has hurt the market and therefore, hoped the situation will see a reversal in time to come.

Whilst commending Cabinet approval being granted for the demutualization of the Colombo Stock Exchange (CSE), Abeysuriya said that there is a lot more to happen, such as the implementation of the Central Counterparty system and the Delivery Versus Payment system, two key initiatives to ensure mitigation of risks when trading in Sri Lanka.

“Those things are also on the cards and are expected as soon as the new Securities and Exchange Act is passed in Parliament.

We will also see the derivatives and futures coming into the market and world standards in terms of regulations and licensing of so called Investment Advisors. It is imperative that these things happen to increase the confidence and trust in the capital market,” said Abeysuriya.

It is learnt that the draft law to demutualize the Colombo Stock Exchange is expected to be gazetted in a few weeks, transforming the CSE into a limited company.

At present, the Colombo Stock Exchange is a company limited by guarantee and mutually owned by founder stock broking firms. Following the demutualization, stock brokers who were licensed earlier are to be entitled to shares in the exchange.
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Re: Market Review

Postby PAT » Tue Feb 06, 2018 11:25 pm

Sri Lanka stocks fall 0.12-pct, rupee extend losses

ECONOMYNEXT - Sri Lanka stocks had a mild decline compared to a global sell down, falling 0.12 percent on Tuesday on foreign interest in John Keells, with the rupee weakening against the US dollar, brokers and dealers said.

The rupee closed at 154.60/70 on Tuesday against the US dollar in the spot market on strong demand for the greenback, weakening from Friday's 154.30/40 close, dealers said.

The Colombo All Share index closed 7.92 points lower at 6,512.54. The S&P SL20 index of more liquid stocks closed 0.41 percent lower, down 15.31 points to 3,736.64.

"The market performed better than anticipated despite equity markets falling globally. The All Share decline was mild," Sumith Perera, Head of Portfolio at Ceylon Guardian said.

Hong Kong stocks fell 5.1 percent and the Shanghai composite index fell 3.4 percent after US stocks suffered the worst fall in six years on Monday.

"Despite a global sell off, foreign investors were net buyers in Colombo with interest in John Keells," Perera said.

Net foreign buying amounted to 122.2 million rupees, compared to net selling of 3.7 million on Friday. Net buying in John Keells was 109 million rupees, according to Asia Securities.
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Re: Market Review

Postby Blue Whale » Wed Feb 07, 2018 7:14 am

Thanks PAT. As I said in my diary foreigners will use the current absurd performance of JKH to negotiate bigger blocks at bargain prices while the retail investors panic and sell down. This may impact the general market somewhat negatively.
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Re: Market Review

Postby PAT » Wed Feb 07, 2018 10:45 pm

Sri Lanka stocks steady on foreign buying, rupee flat

ECONOMYNEXT - Sri Lanka stocks closed flat on Wednesday with foreign buying interest in banks, John Keells and Softlogic Holdings, while the rupee gained against the US dollar, brokers and dealers said.

The rupee strengthened against the greenback to close at 154.50/60 rupees to a US dollar, gaining from 154.60/70 rupees the previous day, dealers said.

The Colombo All Share index closed a marginal 0.08 percent lower, down 5.29 points to 6,507.25. The S&P SL20 of more liquid stocks fell 0.19 percent, closing 7.17 points lower at 3,729.47.

Market turnover was 968.3 million rupees, up 14 percent from the previous day.

"The market continues to be driven by foreign buying interest, especially in banking stocks like Commercial Bank and HNB non-voting shares," says Shiyam Subaulla, Senior Vice President at Asia Securities.

Net foreign buying amounted to 124.4 million rupees, up 1.8 percent from the previous day.

Net foreign buying in HNB non- voting shares (down 30 cents to 191 rupees) was 42.9 million rupees, followed by 31 million rupees each in Commercial Bank (up 80 cents to 140.80 rupees) and John Keells (down one rupee to 157.50 rupees), according to Asia Securities.

Foreigners also bought 31 million rupees each of Janashakthi Insurance (up 1.10 rupees to 28.60 rupees) and Softlogic Holdings (up 10 cents to 16 rupees).

Ceylon Cold Stores (down 17.60 rupees to 900 rupees) and Sri Lanka Telecom (down 50 cents to 28.50 rupees) weighed down the benchmark index.

Nestle Lanka closed 35 rupees higher at 1,775 rupees and Dialog gained 10 cents to 13.70 rupees.

One off-market negotiated deal, or crossing, in Commercial Bank non-voting shares was 313.8 million rupees. The deal was 32.4 percent of market turnover. The bank's non-voting share closed 40 cents lower at 108.60 rupees. (COLOMBO, February 07, 2018)
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Re: Market Review

Postby Blue Whale » Thu Feb 08, 2018 7:09 am

Thanks PAT. So as I predicted the foreigners using the depressed condition of blue chips to collect more at bargain prices.
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Re: Market Review

Postby PAT » Fri Feb 09, 2018 1:08 am

Sri Lanka stocks gain 0.55-pct, rupee strengthens

ECONOMYNEXT - Sri Lanka stocks closed 0.55 percent higher on Thursday on foreign buying in Softlogic Holdings and Ceylon Cold Stores, and the rupee continued to strengthen against the US dollar, brokers and dealers said.

The rupee closed at 154.30/40 against the greenback in the spot market, gaining from the previous day's close of 154.50/60 on banks forward selling US dollars, dealers said.

The Colombo All Share index gained 35.65 points to close at 6,542.90. The S&P SL20 index of more liquid stocks closed 0.25 percent higher, up 9.32 points to 3,738.79.

The market was driven by interest in Janashakthi Insurance (up 1.90 rupees to 30.50 rupees) and foreign buying in Softlogic Holdings (up one rupee to close at 17 rupees) and Ceylon Cold Stores, brokers said.

Carson Cumberbatch (up 13.50 rupees to 208 rupees), Ceylon Beverage Holdings (up 98.80 rupees to 798.80 rupees) and Nestle Lanka (up 35.50 rupees to 1,810.50) lifted the benchmark index.

Market turnover was 1.3 billion rupees, up 37.9 percent from the previous day.

Net foreign buying was 392.8 million rupees, more than doubling from 124.4 million the previous day.

Foreign buying was 278.8 million in Softlogic Holdings and 109 million rupees in Ceylon Cold Stores.

Foreign selling was 24.8 million rupees in JKH, Asia Securities said. JKH gained 80 cents to close at 158.30 rupees.

Off market negotiated trades, or crossings, totalled 253.8 million rupees amounting to 19 percent of market turnover.

There was one crossing each in Ceylon Cold Stores (103.5 million rupees) and Commercial Bank non-voting shares (23.5 million rupees) and two crossings each in Softlogic Holdings (78.4 million rupees) and JKH (48.4 million rupees).

Commercial Bank non-voting share closed 2.50 rupees lower at 106.10 rupees. (COLOMBO, February 08, 2018)
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Re: Market Review

Postby PAT » Fri Feb 09, 2018 5:40 pm

Sri Lanka stocks gain, rupee steady

ECONOMYNEXT - Sri Lanka stocks gained 0.45 percent on Friday on interest in Softlogic Holdings, and banking and finance companies, provisional data showed and the rupee was steady against the US dollar.

The rupee was steady trading at 154.30/32 rupees against the greenback, compared to Thursday's close of 154.30/40, dealers said.

The Colombo All Share index closed 29.39 points higher at 6,572.29. The S&P SL20 index of more liquid stocks closed 15.24 points lower, down 0.41 percent to 3,723.55.

Market turnover was 451.9 million rupees down 65.2 percent from 1.3 billion rupees on Thursday, on trades in Softlogic Holdings (closing 1.10 rupees higher at 18.10 rupees) and Janashakthi Insurance (down 30 cents to 30.20 rupees).

Sampath Bank closed 4.30 percent lower at 320 rupees and Orient Finance closed 70 cents lower at 19.30 rupees. (COLOMBO, February 09, 2018)
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Re: Market Review

Postby PAT » Mon Feb 12, 2018 11:15 pm

Sri Lanka stocks fall 0.45-pct, rupee weakens

ECONOMYNEXT - Sri Lanka stocks closed 0.45 percent lower Monday with foreign buying seen in Softlogic Holdings, and the rupee weakened against the US dollar on uncertainty after shock election results over the weekend, brokers and dealers said.

The rupee closed at 154.90/95 against the US dollar in the spot market, weakening from Friday's close of 154.28/35 due to political uncertainty, dealers said.

"We didn't see much outflows from stocks or bond markets, neither was there importer demand, this was purely a reaction to the election results," one dealer said.

Bond yields spiked during the day across all maturities.

A three-year bond maturing in 2021 was quoted at 9.60/70 percent, up from 9.33/40 percent on Friday.

An eight-year bond maturing in 2026 was quoted at 10.00/20 percent, up from 9.77/85 percent the previous close.

The Colombo All Share index closed 29.30 points lower at 6,542.99. The S&P SL20 of more liquid stocks closed 0.41 percent lower, down 15.21 points to 3,714.97.

"Investors were subdued after the eye-opening local government elections over the weekend," said Sumith Perera, Head of Portfolio at Ceylon Guardian.

Market turnover was 597.6 million rupees, up 32.3 percent from the previous close.

Foreign buying was 289.2 million rupees, up from 90.7 million rupee on Friday.

"This was largely due to buying in Softlogic Holdings, otherwise foreign activity was fairly muted," said Sumith Perera, Head of Portfolio at Ceylon Guardian.

Foreign buying in Softlogic was 248 million rupees, and 49 million rupees in Sampath Bank.

Softlogic closed 1.90 rupees higher at 20 rupees and accounted for nearly 43 percent of market turnover.

Sampath Bank closed 10 cents lower at 319.90 rupees.

Off-market negotiated trades, or crossings, totalling 182. 4 million rupees, was 30 percent of market turnover.

Three crossings in Softlogic amounted to 150 million rupees and one in Sampath Bank amounted to 31.9 million rupees.

John Keells Holdings (closing 3.20 rupees lower at 155.30 rupees), Sri Lanka Telecom (down 1.10 rupees to 28.10 rupees), Cargills (down 6.80 rupees to 200.20) and Commercial Bank (down 1.40 rupees to 136.60 rupees) weighed down the benchmark index. (COLOMBO, February 12, 2018)
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Re: Market Review

Postby PAT » Thu Feb 15, 2018 1:09 am

Sri Lanka stocks down 0.16-pct, rupee slides

ECONOMYNEXT - Sri Lanka stocks closed 0.16 percent lower on Wednesday with banks coming under selling pressure while the rupee weakened as much as 155.90 to the US dollar in intra-day trading, brokers and dealers said.

The rupee closed at 155.35/45 against the US dollar in the spot market, down sharply from Monday's close of 154.90/95. Tuesday was a bank holiday.

The US dollar traded as high as 155.90 during the day, due to panic buying driven by uncertainty after the weekend's election shock, dealers said.

The central bank seems to be allowing the rupee to trade freely so far. Analysts are watching keenly to see whether the central bank will engage in its usual tactics of intervening, and then releasing liquidity to de-stabilize the banking system.

In the past year when it was mopping up liquidity as credit slowed, the rupee was deliberately kept weak by the central bank, as part of its inflationist-devaluationist policy boosting profits of export firms by destroying real wages of people which has deadly political consequences.

The central bank has a declared policy of 'intervening to stop excessive volatility' which means it could intervene at the worst possible time. But a central bank could intervene without further weakening the currency if dollars sales are unsterilized, analysts says.

Bond yields continued to trend upwards across all maturities.

A three-year bond maturing in 2021 was quoted at 9.85/10.00 percent, up from 9.60/70 percent on Monday. An eight-year bond maturing in 2026 was quoted at 10.20/40 percent, up from 10.00/10 percent.

The Colombo All Share index closed 10.73 points lower at 6,532.26. The S&P SL20 index of more liquid stocks closed 0.44 percent lower, down 16.17 points to 3,698.80.
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Re: Market Review

Postby Blue Whale » Thu Feb 15, 2018 7:33 am

Thanks PAT so risk free rates started to rise while exchange rate is weakening. Both are not favourable to keep inflation and thereby cost of living at check which is the most crucial area for the current regime to score before the next election.
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Re: Market Review

Postby prasa2004 » Thu Feb 15, 2018 8:39 am

World markets are rocketing like no tom. It is envy to see such continuous rise across all markets. This has been the norm for last few years except for brief hiccups. in CSE it is eternally in dog house and how pathetic set of investors we are. This is no fault of us but for shortsightedness of our leaders where country is second for their power mania.

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Re: Market Review

Postby Cseinvester » Thu Feb 15, 2018 8:51 am

he he but some people in this form think CSE better than any world stock market when up 20% or 50% one or 2 shares.. they this oh this one enough for 1 year. our cse destroyed ranil and ravi and all the politicians include Mahinda rajapaksha.

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Re: Market Review

Postby Blue Whale » Thu Feb 15, 2018 9:10 am

Cseinvester wrote:he he but some people in this form think CSE better than any world stock market when up 20% or 50% one or 2 shares.. they this oh this one enough for 1 year. our cse destroyed ranil and ravi and all the politicians include Mahinda rajapaksha.

So what you can do now and want to do now. Without crying like Hawl better to go for FD because you have attractive gains from coins ne. At least you can have a good night sleep. I'm pretty serious and advising you like your parents =;
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Re: Market Review

Postby Cseinvester » Thu Feb 15, 2018 9:15 am

thanks BLUWE WHILE. SAD FOR NOT GIVEN CFVF. DIVIDENT. CHEERSSSS FOR BETTER CSE


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