Market Review

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Re: Market Review

Postby PAT » Wed May 16, 2018 10:10 pm

Sri Lanka rupee slides in intra-day trade against US dollar, stocks gain

ECONOMYNEXT - The Sri Lanka rupee closed steady against the US dollar after the central bank intervened to prevent the currency breaching 159-levels, while gilt yields edged higher and stocks gained 0.42 percent, dealers and brokers said.

The rupee closed unchanged from the previous day at 158.20/40 rupees against the US dollar in the spot market Wednesday after falling to a new low of 158.80 rupees earlier in the day on importer demand, dealers said.

State-names acting on behalf of the monetary authority sold US dollars to smaller banks to claw back the falling currency, dealers said.

Gilt yields closed higher in the secondary market for government bonds.

A five-year bond maturing in 2023 closed higher at 10.42/48 percent in two-way quotes, up from 10.35/40 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.65/75 percent, up from 10.65/70 percent the previous day.

The Colombo All Share index gained 0.42 percent, up 27.15 points to 6,483.47, and the S&P SL20 of more liquid stocks gained 0.12 percent, up 4.39 points to 3,620.55.
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Re: Market Review

Postby PAT » Fri May 18, 2018 9:04 am

Sri Lanka rupee recovers, stocks close lower

ECONOMYNEXT - Sri Lanka's rupee recovered amid intervention and some exporter selling after the central bank talked up the rupee saying it was expecting 1.8 billion US dollars in inflows, while stocks closed lower, dealers and brokers said.

The rupee closed at 157.85/158.00 rupees against the US dollar, up from Wednesday's close of 158.20/40 rupees.

The aggregate overnight balance of the banking system turned negative for the first time since the mini-run on the rupee began after seasonal holidays in April.

On Thursday the central bank talked up the rupee arguing that underlying economic fundamentals did not warrant the rupee's fall.

The monetary authority said it was expecting inflows of 1.8 billion US dollars in the coming weeks, which brought back exporters from the side lines, dealers said.

Heavy moral suasion had also been used on dealers.

The central bank cut rates and injected tens of billions of rupees to enforce low rates the first week of April, amid a festival demand for cash, triggering a run on the rupee after the New Year when the rupee was allowed to float with 20 to 30 billion rupees of excess liquidity.

It later emerged that a maturing bond had been repaid with borrowings from the banking system.

On Thursday for the first time since the mini-run on the rupee, liquidity was a negative 400 million rupees, down from 11.8 billion rupees a day earlier. Banks borrowed 14.9 billion rupees from the central bank's reverse repo window and deposited 9.5 billion rupees.

A further 5.0 billion was mopped up overnight at 7.50 percent. Analysts say all such moves tend to support the rupee.

Gilt yields closed steady in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 10.40/45 percent in two-way quotes, down from 10.42/48 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.65/75 percent, unchanged from the previous close.
The Colombo All Share index edged 0.16 percent lower, down 10.29 points to 6,473.18, and the S&P SL20 of more liquid stocks closed 0.29 percent lower, down 10.67 points to 3,609.88.

In equities market turnover was 484.6 million rupees, down 6.4 percent from the previous day.

Selling in John Keells Holdings (down 1.30 rupees to 157.70 rupees), Commercial Bank (down 70 cents to 133.30 rupees) and Melstacorp (down 50 cents to 57.50 rupees) contributed to the benchmark index decline.

Net foreign selling was 77.8 million rupees against, up from selling of 7.3 million rupees the previous day.

Foreign selling in John Keells Holdings was 107 million rupees.

Two off-market negotiated trades, or crossings, in Distilleries totalled 148.9 million rupees and was 31 percent of market turnover.

Distilleries gained 40 cents to close at 21.40 rupees. (COLOMBO, 17 May 2018)
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Re: Market Review

Postby PAT » Sun May 20, 2018 9:05 am

Shares break free of 3-week losing streak
Rupee slide bother foreigners, outflows widen

Sri Lankan equity markets ended the week on a positive note, reversing three weeks of consecutive declines and, despite hitting a one-month low on Monday, the bourse gained ~13 points or 0.20% over the remainder of the week as stronger-than-expected corporate earnings from Index-heavy-weights generated some market interest, Acuity Stockbrokers said in their Share Market Weekly.


"The benchmark ASPI slipped 34 points or -0.52% (the highest daily drop since March’18) on Monday but regained 47 points (0.73%) to close the week 10 points shy of the key psychological mark of 6,500," it said.


Monday’s losses were reversed as index heavy-weight CTC gained3.31% and contributed 13.6 points to ASPI following its earnings release (CTC recorded 17% earnings growth supported by a surprise volume growth) the report said.


However, it noted that although markets moved to positive territory over the week, activity levels remained relatively dull during the week as the turnover dropped to Rs.2.6Bn from Rs.3.2Bn a week ago and average daily turnover fell to Rs.0.52Bn (cf. Rs.1.0Bn year to date).


High net worth and institutional investors remained on the sidelines over the week, with crossings accounting for just 29% (Rs.0.8Bn) of the weekly turnover (cf. 40% last week, and 44% year to date weekly average), Acuity said.


Teejay (Textured Jersey) (Rs.0.5Bn) accounted for 63% of the block purchases while Distilleries accounted for 19%. Foreign investors meanwhile, recorded a net outflow of Rs.0.46Bn for the first time in last five weeks reflecting the broader global pattern of declining inflows to emerging and frontier markets since Feb’18.


The outflows widened the year-to-date net outflow position on the Bourse to Rs.0.8Bn in (including strategic sale by Orix of Japan of LOLC for Rs.12.8Bn). Higher Rupee depreciation continues to remain a major concern for foreign investors, particularly given the LKR’s 3.4% depreciation so far this year, Acuity noted.


The report expected markets in the week as likely to look for cues from the corporate earnings for Mar’18 quarter and further political and economic developments.
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Re: Market Review

Postby IOSirisena » Mon May 21, 2018 1:55 pm

The Wall Street Journal meanwhile, noted that despite the LKR coming under pressure from an appreciating USD, the LKR still supports a sound investment in the equity market.

The Journal noted that although the LKR remains vulnerable to further dollar appreciation, Sri Lanka may suffer less than most as it tends to be among the economies least affected by changes in the USD’s value.

The Journal also quoted analyst views that despite its challenging macroeconomic and political picture, Sri Lanka has all the ingredients to be a “break-out” economy which is attractive at its current cheap valuations. (Source: Daily News 21.05.2018)

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Re: Market Review

Postby PAT » Tue May 22, 2018 7:04 pm

Sri Lanka rupee weakens, stocks gain 0.10-pct

ECONOMYNEXT - The Sri Lanka rupee weakened against the US dollar in the spot market Tuesday, while gilt yields eased and stocks edged 0.10 percent higher on buying in Dialog and AIA Insurance, brokers and dealers said.

The rupee edged lower to 158.00/10 against the US dollar in the spot market on importer demand, dealers said. The US dollar closed at 157.85/95 rupees on Monday.

Gilt yields eased in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 10.40/43 percent in two-way quotes, down from 10.40/48 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.65/70 percent, down from 10.68/78 percent the previous day.

In equities, the Colombo All Share index edged 0.10 percent higher, up 6.18 points to 6,472.25, and the S&P SL20 index of more liquid stocks closed 0.29 percent lower, down 10.47 points to 3,613.94.

Market turnover was 777.4 million rupees, up 48.3 percent from the previous day.

Dialog (gaining 40 cents to 14.50 rupees), AIA Insurance (up 42.30 rupees to 526.70 rupees), Cargills (up 4 rupees to 204 rupees) and Distilleries (gaining 20 cents to 21.70 rupees) contributed to the benchmark index gain.

Foreign buying was 73.3 million rupees, down from buying of 152 million rupees the previous day.

Foreign buying in Commercial Credit and Finance was 65 million rupees, followed by buying of 15 million rupees in People's Leasing, according to Asia Securities.

Commercial Credit was unchanged at 43 rupees and People's Leasing closed 10 cents higher at 15.70 rupees.

Eight crossings, or off-market negotiated trades, amounted to 387.7 million rupees which was 50 percent of market turnover.

There was one crossing each in Commercial Credit (72 million rupees), HNB (59.5 million rupees), Access Engineering (56.6 million rupees) and Teejay Lanka (52 million rupees).

The other crossings were in Chevron Lubricants (47 million rupees), People's Leasing (45.4 million rupees), John Keells Holdings (33.3 million rupees) and Dialog 21.7 million rupees).

HNB gained 10 cents to close at 242.30 rupees and Access Engineering closed 20 cents lower at 18.90 rupees.

Teejay Lanka was 40 cents lower at 30.40 rupees, Chevron Lubricants was unchanged at 88.80 rupees and John Keells Holdings closed 90 cents lower at 160 rupees. (COLOMBO, 22 May, 2018)
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Re: Market Review

Postby PAT » Sun May 27, 2018 8:54 am

Turnover up but ASPI down,foreign interest visible

Equity markets reversed the previous week’s temporary uptick, with relatively flat performance over most of the week failing to offset Monday’s 24 point (or 0.40%) loss, Acuity Stockbrokers reported in their Share Market Weekly.


"The broad-share Index recorded its biggest loss for the week on Monday (~26 points or 0.40%) and the ASPI’s flat performance (total of 1.7 points) over the rest of the week resulted in the bourse falling ~24 points or 0.37% over the week to end at 6,467.80," the report said.


"Returns on Sri Lankan equities over May have remained negative so far, with the ASPI losing 1.0% (~63 Points) month to day following a gain of 0.8% in April. The YTD return on the Index consequently dropped to 0.9% as market returns over Q1’18 have been volatile, with gains in January (+1.7%) and February (+1.2%) trimmed by losses of 1.1% in Mar’18 post the communal violence in early March."


Although the ASPI ended the week on a negative note, weekly activity levels improved, helping turnover levels increase ~35.6% W-o-W to Rs.3.6Bn cf. Rs.2.6Bn a week ago. Stronger activity levels were driven primarily by high net worth and institutional investors who showed renewed interest in equities over the week; crossings subsequently, accounted for ~47% (1.7Bn) of the week’s turnover cf. ~29% last week and ~44% year to date weekly average, the report noted.


RIL Property (320Mn) accounted for ~19% of the total crossing for the week and HNB accounted for 18% of total crossings while ACL, JKH and 10 other companies traded in large parcels over the week, it said.


"Foreign investor interest also appeared stronger over the week, with investors indicating a preference towards Sri Lanka’s relatively undervalued equities helping net foreign inflows of Rs.1.0Bn cf. outflows of Rs.0.5Bn a week earlier," Acuity said.


"Foreign investor interest appeared concentrated on midcaps such as RIL and banks such as HNB, but some outflows were evident from blue-chips such as JKH & Commercial Bank. Despite rupee volatility, foreign investors have continued to channel funds into Sri Lankan equities for most of the year so far, as fiscal reforms and stable monetary policies along with Sri Lanka’s relatively undervalued market has continued to attract foreign investors and helped the YTD net foreign position on the CSE move to a net inflow position of 0.2Bn (cf. an outflow position of Rs.0.8Bn last week)."


Acuity expected markets in the week ahead likely to look for cues from corporate earnings for the Mar’18 quarter.
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Re: Market Review

Postby PAT » Wed May 30, 2018 11:28 pm

Sri Lanka stocks close lower, MTD Walkers sharply down

ECONOMYNEXT - Sri Lanka's stocks closed down 0.5 percent Wednesday with foreign selling in Aitken Spence and MTD Walkers a construction company, fell 14 percent, brokers said.

The Colombo All Share Index fell 32 points to close at 6,420.98 and the S&P SL20 index of more liquid stocks fell 30.6 points (0.85 percent) to close at 3,585.53.

The turnover was 1.67 billion rupees. Foreigners sold 1.42 billion rupees of stocks and bought 310 million rupees.

MTD Walkers, a construction company, faced speculative selling pressure with the stock plunging 14 percent to close at 15.90 rupees, brokers said.

The firm had reported a loss of 418 million rupees in the December quarter and 2.03 billion rupees in the nine months. March results are not yet out.

Index-heavy John Keells Holdings fell 3.40 rupees to 153.00 rupees. Aitken Spence fell 4.50 rupees to close at 51.00 rupees amid foreign selling.

Access Engineering fell 20 cents to 18.40 rupees, Central Finance closed down 2.0 rupee at 99.00 rupees, Ceylon Grain Elevators was down 1.60 at 66.00 rupees.

Asiri Hospital Holdings rose 80 cents to close at 25.80 rupees and Melstacorp rose 1.0 rupee to close at 57.00. (Colombo/May30/2018)
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Re: Market Review

Postby GB » Thu May 31, 2018 7:43 am

Thanks PAT

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Re: Market Review

Postby PAT » Fri Jun 01, 2018 8:59 am

Sri Lankan shares fall to 5-month closing low; John Keells declines

Reuters - Sri Lankan shares fell for a fourth straight session on Thursday and posted their lowest close in five months, dragged by conglomerate John Keells Holdings Plc on foreign investor selling.

Foreign investors sold shares of John Keells following reports that the MSCI Frontier Markets 100 Index, which captures large- and mid-cap representation across 29 frontier markets, will remove the stock from its index.

MSCI has yet to respond to a Reuters query if it has decided to remove John Keells from the index, but two analysts said the stock will be removed.

Foreign investors sold net 475.9 million rupees worth of equities on Thursday, extending the year-to-date net foreign outflow to 1.4 billion rupees worth of shares.

The Colombo stock index ended 0.35 percent weaker at 6,398.44. For the month, it declined 1.9 percent.


Turnover was 2.3 billion rupees ($14.54 million), more than twice of this year’s daily average of 998 million rupees.

“There was foreign selling on JKH (John Keells Holdings). With the dip in the share price, the All Share Price (Index) also came down,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

“There were some month-end settlements also.”

A weaker rupee, political uncertainty and the recent fuel price hike also weighed on sentiment, with local investors mostly keeping to the sidelines awaiting cues about the real impact of the floods that hit the island nation over the past week, brokers said.

Analysts said investors are waiting to see the full impact of the floods, which killed 24 people last week.

Shares of John Keells fell 2.3 percent, Melstacrop Plc ended 3.5 percent weaker, Richard Pieris & Company Plc lost 4.7 percent and Lion Brewery (Ceylon) Plc slipped 2.5 percent.

The rupee hit a fresh low of 158.50 per dollar on May 16 on importer demand for the U.S. currency.

Analysts said market sentiment had been dented by concerns over political instability following President Maithripala Sirisena’s decision to suspend parliament last month after 16 legislators from his ruling coalition defected.

On May 8, Sirisena urged his own coalition government and the opposition to end a power struggle to achieve ambitious goals including anti-corruption measures.
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Re: Market Review

Postby PAT » Sat Jun 02, 2018 10:59 am

Sri Lankan shares end near 5-month closing low; foreign investors buy
June, 2, 2018

Reuters - Sri Lankan shares ended largely unchanged near a five-month closing low on Friday as gains led by conglomerate John Keells Holdings Plc were offset by losses in large-cap shares such as Ceylon Tobacco Company , while foreign investors turned net buyers of equities.

Foreign investors, who sold shares of John Keells, in the previous two sessions, bought the market heavyweight after lower price made it attractive, stockbrokers said.

Reports that MSCI Frontier Markets 100 Index, which captures large- and mid-cap representation across 29 frontier markets, will remove Keells from its index triggered foreign selling in the last two sessions.

Foreign investors bought net 234.6 million rupees ($1.48 million) worth of equities on Friday, but the market has seen a year-to-date net foreign outflow to 1.14 billion rupees worth of shares.


The Colombo stock index ended 0.04 percent firmer at 6,401.03, its first gain in five session. It is down 1 percent over the week.

“Keells bounced back on foreign buying. Foreign investors are looking at the market with optimism,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

Turnover was 839.7 million rupees ($5.30 million), less than this year’s daily average of 996.4 million rupees.

A weaker rupee, political uncertainty and the recent fuel price hike also weighed on sentiment, with local investors mostly keeping to the sidelines as they gauge the real impact of the floods that killed 24 people in the island nation over the past week, brokers said..

Shares of John Keells gained 4 percent while Ceylon Tobacco Company fell 0.7 percent.

The rupee hit a fresh low of 158.80 per dollar on Friday owing to dollar demand from foreign banks and importers, but ended steady on late inflows from remittances.

Analysts said market sentiment was dented by concerns over political instability following President Maithripala Sirisena’s decision to suspend parliament last month after 16 legislators from his ruling coalition defected.

On May 8, Sirisena urged his own coalition government and the opposition to end a power struggle to achieve ambitious goals including anti-corruption measures.
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Re: Market Review

Postby Blue Whale » Mon Jun 04, 2018 7:51 am

Thanks PAT. I can see market index entering more and more red zone in the coming weeks.
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Re: Market Review

Postby PAT » Tue Jun 05, 2018 12:28 am

Sri Lanka rupee strengthens, stocks edge lower

ECONOMYNEXT - The Sri Lanka rupee edged marginally higher against the US dollar in the spot market Monday, as gilt yields eased and stocks fell 0.10 percent amidst foreign buying in John Keells Holdings, brokers and dealers said.

The rupee gained marginally to 158.45/55 rupees against the US dollar in the spot market on export conversions, dealers said.

Money markets were short by 13.2 billion rupees on Monday with well-managed banks with excess liquidity depositing 17 billion rupees in the central bank's excess liquidity window, while banks that were short borrowed 22.5 billion rupees from the central bank's reverse repo window at 8.50 percent.

On May 30, the central bank sold down 15 billion rupees of its domestic assets, withdrawing cash and supporting the rupee.

A reverse repo auction on Monday saw 8 billion rupees get injected into money markets at 8.48 percent, the highest in recent months with the central bank seen wanting to protect the dollar-peg by containing excess liquidity, dealers said.

It was lower than the 12 billion injected a day earlier.

The dollar closed Friday at 158.50/60 rupees after hitting an intra-day low of 158.80 rupees in the spot market.

In gilts, yields edged lower in the secondary market for government bonds.

A five-year bond maturing in 2023 closed at 10.36/40 percent in two-way quotes, down from 10.38/44 percent the previous day.

A ten-year bond maturing in 2028 closed at 10.55/65 percent, compared to the previous close of 10.58/65 percent.

In equities, the Colombo All Share index fell 6.10 points, down 0.10 percent to 6,394.93, and the S&P SL20 of more liquid stocks closed 6.86 points lower, down 0.19 percent to 3,574.37.

Market turnover was 771.8 million rupees, down, down 8 percent from the previous close.

Dialog (down 30 cents to 14.10 rupees), Hemas Holdings (down 3 rupees to 120 rupees) and Ceylinco Insurance (down 75.10 rupees to 1,683.90 rupees) contributed to the benchmark index decline.

Net foreign buying was 318.2 million rupees, up 35.6 percent from the previous day.

Foreign buying in John Keells Holdings was 143 million rupees, followed by 120 million rupees in Carson Cumberbatch.

John Keells Holdings closed unchanged at 156 rupees and Carson Cumberbatch closed 4.60 rupees higher at 170 rupees.

Six crossings, or off-market negotiated trades, amounted to 556 million rupees, accounting for 72 percent of the day's turnover.

Four crossings in John Keells Holdings amounted to 378.6 million rupees and two in Cargills amounted to 95 million rupees.

Cargills gained 1.80 rupees to 199.80 rupees.

There was a crossing each in HNB (52.9 million rupees) and Union Assurance (29.4 million rupees).

HNB closed unchanged at 242.50 rupees and Union Assurance ended 2.50 rupees higher at 225.70 rupees. (COLOMBO, 04 June, 2018)
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Re: Market Review

Postby PAT » Wed Jun 06, 2018 8:06 pm

Sri Lanka rupee weakens, stocks fall 0.15-pct

ECONOMYNEXT - The Sri Lanka rupee weakened against the US dollar on Wednesday and stocks closed 0.15 percent lower on Wednesday amidst foreign buying interest in John Keells Holdings.

The rupee weakened slightly to 158.70/80 rupees against the US dollar in the spot market, dealers said. The US dollar closed Tuesday at 158.60/70 rupees.

On May 30, the central bank sold down 15 billion rupees of its treasury bill holdings which took out cash from the system.

Money markets continued to be short at 13.3 billion rupees on Wednesday, down from 15.82 billion rupees the previous day.

The Central Bank injected 10 billion rupees via a reverse repo auction on Wednesday to meet the liquidity shortfall.

On Wednesday, well-managed banks with excess liquidity deposited 11.4 billion rupees in the central bank's excess liquidity window, while banks that were short had to borrow 14.7 billion rupees from the central bank reverse repo window at 8.50 percent.

In gilts, a five-year bond maturing in 2023 closed at 10.38/42 percent in two way quotes, down from 10.40/43 percent the previous day.

A ten-year bond maturing in 2028 closed higher at 10.60/70 percent, up from 10.58/65 percent the previous close.

The Colombo All Share index shed 9.60 points closing 0.15 percent lower at 6,399.91, and the S&P SL20 index of more liquid stocks closed 0.40 percent lower, down 14.22 points to 3,578.44.

Market turnover was 510.1 million rupees, down 25 percent from the previous day.

John Keells Holdings (closing 1 rupee lower at 158 rupees), Hemas Holdings (down 1.90 rupees to 118.10 rupees) and BRAC Lanka Finance (down 4.50 rupees to 42 rupees) weighed down the benchmark index.

There was one crossing, or off-market negotiated trade, in John Keells Holdings for 158.4 million rupees which accounted for 31 percent of market turnover.

Net foreign buying was 188.4 million rupees, up from 183 million rupees the previous day.

Foreign buying in John Keells Holdings was 178 million rupees, according to Asia Securities. (COLOMBO, 06 June, 2018)
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Re: Market Review

Postby dhanurrox » Wed Jun 06, 2018 10:26 pm

Just counted.More than 50 shares 52 week low

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Re: Market Review

Postby ruwan999 » Thu Jun 07, 2018 6:59 am

dhanurrox wrote:Just counted.More than 50 shares 52 week low

Let's say 50shares @ discounted price :) :) :)
After 1 year I start again investing :ar! :ar! :ar! :ar! Time to collect more :-bd

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Re: Market Review

Postby PAT » Sat Jun 09, 2018 12:29 am

Rupee reaches new low; stocks end 0.14-pct lower

ECONOMYNEXT - The Sri Lanka rupee closed at a new low of 158.95/159.10 rupees against the US dollar on Friday as gilt yields edged higher and stocks closed 0.14 percent lower on selling in John Keells Holdings and banking stocks, dealers and brokers said.



The rupee was quoted at 158.95/159.10 rupees against the US dollar in the spot market on importer demand, with actual trades taking place at around 158.90 rupee levels, dealers said.

State-names usually acting on behalf of the central bank sold dollars at 158.90/95 rupees to small banks to contain the currency's decline, dealers said.

Money markets were short by 11.90 billion rupees on Friday, down from 17.98 billion rupees a week earlier after the central bank sold down its domestic assets (Treasury bill holdings) by nearly 15 billion rupees to 35.19 billion rupees in a bid to contain credit-fuelled importer demand, dealers said.

The central bank injected 15 billion rupees via a reverse repo auction on Friday to cover the market short-fall.

In the secondary market for government bonds, yields edged marginally higher on Friday.

A five-year bond maturing in 2023 closed at 10.42/50 percent in two-way quotes, up from 10.38/42 percent the previous day.

A ten-year bond maturing in 2028 closed at 10.65/75 percent, up from the previous day's closing of 10.57/67 percent.

In equities, the Colombo All Share index closed 0.14 percent lower, down 8.70 points to 6,354.92, and the S&P SL20 of more liquid stocks shed 17.83 points, down 0.50 percent to 3,539.93.

Market turnover was 326.2 million rupees, down 40 percent from the previous day.

Selling in John Keells Holdings (down 70 cents to 156.10 rupees), Sri Lanka Telecom (70 cents lower at 25.20 rupees), and banking stocks contributed to the benchmark index decline.

Commercial Bank closed 1.20 rupees lower at 128.30 rupees, HNB was down 2.60 rupees to 240.20 rupees, and Sampath Bank ended 2.50 rupees lower at 316.40 rupees.

Net foreign buying was 12.5 million rupees, compared to selling of 114.3 million rupees the previous day.

Foreign buying in Cargills was 20 million rupees. The stock gained 2.30 rupees to close at 200 rupees.

There were no crossings, or off-market negotiated trades. (COLOMBO, 08 June 2018)
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Re: Market Review

Postby PAT » Sun Jun 10, 2018 8:57 am

Stocks down third week running but foreign interest remains: Acuity

Negative investor sentiment continued to drag domestic equities with markets losing ground for the third consecutive week to close at an YTD low 6,354.92, Acuity Stockbrokers said in their Share Market Weekly.


The report noted that the benchmark ASPI lost ~46 points (0.72%) over the week (cf. ~67 points loss in the previous week) to close the week below the key 6,400-mark for the first time in five months. Continued losses in local markets were driven mainly by lackadaisical buying interest by investors, with investors showing higher selling interest than buying interest which was reflected in the activity levels on the bourse. It said.


"Activity levels on the CSE consequently hit a three-week low as turnover declined ~46% W-o-W to Rs.2.8Bn (cf. 5.2Bn the previous week). Daily average turnover subsequently declined to Rs.0.57Bn (cf. 0.97Bn YTD daily average) with JKH accounting for ~29% of the weekly turnover and Sampath Bank accounted for 16% of the week’s turnover," Acuity said.


"The low activity levels were primarily due to poor participation levels by local Institutional and HNI investors who remained on the sidelines this week. Crossings for the week accounted for just ~31% of the week’s turnover with blue-chip JKH accounting for the majority (67%) of the week’s crossings."


The continuous drop in Index value meanwhile converted the YTD return on the ASPI to negative (-0.2%), while the YTD loss on the more liquid S&P20 SL index widened further to 3.6%, the report said.


"Foreign investors however, indicated interest towards Sri Lanka’s relatively undervalued equities, and net foreign inflows for the week amounted to Rs.0.6Bn, reversing the previous week’s net outflows of Rs.1.4Bn. Foreign investors have poured in ~Rs.0.8Bn into the CSE so far in Jun’18 (reversing the net outflow of Rs.0.6Bn in May), and this has helped support Q2’18 net foreign inflows to the Bourse which have improved to Rs.1.9Bn (cf. outflow of Rs.2.6Bn in Q1’18)," Acuity said.


The brokerage expected markets in the week ahead are likely to look for cues from further economic and political developments
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Re: Market Review

Postby ruwan999 » Sun Jun 10, 2018 11:53 am

"Continued losses in local markets were driven mainly by lackadaisical buying interest by investors, with investors showing higher selling interest than buying interest which was reflected in the activity levels on the bourse." :-o :-o :-o :-o

I believe still many Sri Lankan investors buy when the price going up and sell when it's going down :-\ :-\ :-\ :-\ ,
Many shares came down to 52weeks low and many valuable shares on a discounted price to garb these days :-bd :-bd :-bd :-bd

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Re: Market Review

Postby Blue Whale » Sun Jun 10, 2018 9:45 pm

ruwan999 wrote:"Continued losses in local markets were driven mainly by lackadaisical buying interest by investors, with investors showing higher selling interest than buying interest which was reflected in the activity levels on the bourse." :-o :-o :-o :-o

I believe still many Sri Lankan investors buy when the price going up and sell when it's going down :-\ :-\ :-\ :-\ ,
Many shares came down to 52weeks low and many valuable shares on a discounted price to garb these days :-bd :-bd :-bd :-bd

Agree.
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Re: Market Review

Postby Blue Whale » Sun Jun 10, 2018 9:45 pm

Thanks PAT
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Re: Market Review

Postby PAT » Thu Jun 14, 2018 11:39 pm

Sri Lanka rupee strengthens, stocks down 0.11-pct

ECONOMYNEXT - The Sri Lanka rupee strengthened marginally against the US dollar Thursday on export conversions after crossing the psychological 160 rupee-level as gilt yields edged higher and stocks fell 0.11 percent on selling in telco stocks, brokers and dealers said.

The rupee closed at 159.60/70 rupees against the US dollar in the spot market, strengthening against the greenback on export conversions, dealers said. The US dollar closed at 159.50/80 rupees the previous day.

The currency was quoted as low as 160.25 rupees against the US dollar in early trading Thursday with an actual trade taking place at 160.10 rupees before export conversions of US dollars strengthened the rupee, dealers said.

Gilt yields edged higher in the secondary bond market.

A five-year bond maturing in 2023 closed at 10.42/48 percent, up from the previous close of 10.40/45 percent.

A ten-year bond maturing in 2028 closed at 10.63/73 percent, up from 10.60/70 percent the previous day.

In equities, the Colombo All Share index closed 0.11 percent lower, down 6.78 points to 6,331.10, and the S&P SL20 of more liquid stocks edged down 0.15 percent, closing 5.16 points lower at 3,526.93.

Market turnover was 273.3 million rupees, down 40.5 percent from the previous close.

Dialog (down 10 cents to 14.10 rupees), Sri Lanka Telecom (down 40 cents to 24.10 rupees) and Lion Brewery (down 9 rupees to 570 rupees) weighed down the benchmark index.

Net foreign selling was 32 million rupees, against selling of 213.2 million rupees the previous day.

Selling in Renuka Agri Foods was 73 million rupees, according to First Capital Research. Renuka Agri Foods closed 10 cents higher at 2.10 rupees.

There was some foreign buying of 18 million rupees in John Keells Holdings (down 20 cents to 156 rupees) and 17 million rupees in HNB (down 70 cents to 241.10 rupees).

There was one off-market negotiated trade in Renuka Agri Foods for 72.9 million rupees, accounting for 26.7 percent of market turnover. (COLOMBO, 14 June 2018)
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Re: Market Review

Postby ruwan999 » Fri Jun 15, 2018 6:59 am

:-\ :-\ :-\ :-\ :-\ :-\ :!! :!! Blue whale missing....... Any idea what happen to him?

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Re: Market Review

Postby senarath67 + » Fri Jun 15, 2018 12:24 pm

BW is a character,who is very positive and keeps the forum alive.When we miss his sight even for a short period,it is deeply felt.

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Re: Market Review

Postby PAT » Sun Jun 17, 2018 11:05 am

Listed company earnings grew 7% year- on-year in 2017/18

Despite negative sentiment dominating the Colombo bourse where The tumble continued for four consecutive weeks, earnings in the


March quarter of the last financial year concluded March 31, 2018,


Were up 25% from a year earlier, brokers said.


"Total market earnings for the recently concluded earnings season indicated Y-o-Y growth, with earnings2 for the Mar’18 quarter rising 25% to Rs.99.3Bn. This compares to the Rs. 79.3Bn recorded by the full market a year ago in Mar’17 and the Rs. 85.4Bn recorded last quarter (in Dec’17)," Acuity Stockbrokers said in a market report.


" Growth over the quarter was driven largely by sectors such as Banks, Finance & Insurance, (+31% Y-o-Y), F&B (+71% Y-o-Y), Teleco (+34% Y-o-Y), Diversified (+32% Y-o-Y) and Construction (+60% Y-o-Y)," it said.


"While the growth over the quarter was notable, it is also largely reflected i) the traditionally stronger March quarter which remains the financial year end for most companies and ii) exceptional gains from several Insurance companies."


Stronger Mar’18 quarter earnings also boosted the overall market’s full year earnings, and overall corporate earnings for the FY’17/183 rose 7% Y-o-Y to Rs. 284Bn (cf. Rs. 265Bn last year), the report said.


" Despite the Y-o-Y growth, the pace of growth was slower at 7% compared to 26% Y-o-Y growth last year, largely reflecting the general slowdown in overall GDP growth which fell to 3.1% Y-o-Y in 2017 (cf. 4.5% Y-o-Y in 2016)."
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Re: Market Review

Postby PAT » Sun Jun 17, 2018 11:06 am

Shares dip for fourth week in a row on negative investor sentiment

Sri Lankan Equities continued to dip for the fourth consecutive week as the benchmark ASPI lost ~24 points (0.37% W-o-W) to close the week at a YTD low of 6,331.10, Acuity Stockbrokers said in their Share Market Weekly.


"Continued losses in local equities were mainly driven by lower activity levels as most major categories of investors remained on the sidelines. Activity levels on the bourse hit a nine-week low as the turnover declined ~29% W-o-W to Rs.2.0Bn (cf. Rs.2.8Bn the previous week) while daily average turnover for the week declined to a six-week low of Rs.0.5Bn (cf. Rs.0.6Bn the previous week)," the report said.


The low activity levels were primarily due to poor participation by local Institutional and high net worth investors who remained on the sidelines last week. Crossings for the week accounted for just ~17% of the week’s turnover with Commercial Bank accounting for ~27% of the crossings, Acuity noted.


"Negative investor sentiment has continued to drag domestic equities since May’ this year, resulting in the ASPI dropping ~3.1% between May-June to convert the positive return on the ASPI (up to April) down to a negative -0.6% YTD. The YTD loss on the more liquid S&P20 Index meanwhile, widened further during the week to 3.9% indicating the persistent negative investor sentiment, the report said.


Foreign investor flows to the Bourse turned negative last week, despite a net inflow of Rs.60Mn on Monday. Net foreign outflows over the week consequently totaled Rs.219Mn (cf. inflow of Rs.588Mn the previous week), reducing the net foreign inflows to CSE so far in Jun’18 down to Rs.603Mn., Acuity said.


"Despite last week’s foreign equity sell-off though, so far in Q2’18, foreign appetite for Sri Lankan equities has remained positive with total net inflows in Q2 2018 totaling ~Rs1.7Bn (cf. outflow of Rs.2.6Bn in Q1 2018).


Markets in the week ahead are likely to look for cues from further economic and political developments, the brokerage projected.
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