Market Review

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Re: Market Review

Postby PAT » Sun Nov 05, 2017 12:28 am

Stock Market continues encouraging performance

The Sri Lankan stock market has continued what has been an encouraging year in 2017, where both market indices continue to record positive returns. The Benchmark All Share Price Index (ASPI) has made a 2.78% gain in October alone and a 6.31% gain year-to-date, while the S&P SL 20 index, which features the CSE’s 20 largest and most liquid stocks has also improved consistently, making a 5.74% gain in October and a 11.50% gain since the start of 2017. The positive growth of the indices mark a reversal of the declining trend recorded in 2015 and 2016, during which the ASPI recorded a decline of 5.54% and 9.66% respectively.

The performance of the market has also resulted in an improved involvement among investors, where the Daily Average Turnover is recorded at Rs. 943 million year-to-date, which is a 28% increase from Rs. 737 million in 2016.

Commenting on market performance, CSE CEO Rajeeva Bandaranaike said “2017 has offered encouragement as far as market performance is concerned and investors are starting to recognize long term value in the market. The foreign activity we have witnessed indicates that international investors have been quick to identify an opportunity in Sri Lankan stocks, and with the macro-economic environment continuing to improve we hope to see further advances where secondary market activity is concerned, especially among local retail and institutional investors.”

The significant amount of capital raised via rights issues during the year presents another standout feature, with the figure of Rs. 37 billion raised as of end October recording the highest yearly figure since 2007.

This development continues to indicate the confidence placed by listed companies in the capital market when addressing their additional capital requirements.

The market has also continued to attract foreign investment throughout 2017, with Rs. 98 billion in foreign buying contributing to a net foreign inflow of Rs. 19.6 billionyear-to-date, a figure that is substantial compared to foreign activity in 2015/16. 2017 also recorded an all-time high for foreign investor buying recorded in the first half of a calendar year.

An attractive market valuation (P/E), encouraging performance among listed entities and capital gains tax exemptions offered to share transactions are considered to be defining factors in attracting the level of foreign investor interest the market has witnessed so far in 2017.

In the midst of the growth of the indices and a number of other positives so far this year, the market continues to trade at a discount compared to regional peers and offers further opportunities for investors - with a market P/E recorded at 10.99 as of the end of October.

The CSE through its market development activities has embarked on an awareness drive in 2017, reaching out to multiple investor segments around the country and in international markets. Such efforts have seen the CSE work with the Securities and Exchange Commission of Sri Lanka (SEC) on “Invest Sri Lanka” Investor Forums in the United States, Australia and New Zealand in 2017 and an island-wide local retail investor focused Investor Forum campaign to create awareness on stock market investment.

The CSE branch network has also conducted over 500 educational programs so far in 2017. In addition, CSE and the Colombo Stock Brokers Association (CSBA) is also presently conducting a series of events presenting investment research on companies featured on the S&P SL 20 Index, to an exclusive audience of Local Institutional Investors.
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Re: Market Review

Postby Contra » Sun Nov 05, 2017 8:25 am

Thanks PAT. It is good to see attractive valuations in the market. I think It is the main reason for some interest on stocks.
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Re: Market Review

Postby PAT » Sat Nov 11, 2017 10:34 am

Stock market drop; telcos, banks drag after Budget measures

Reuters - Shares fell on Friday, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue.

The Government imposed new taxes on motor vehicles, telecoms, banks and liquor in a bid to boost revenues in its 2018 budget outlined on Thursday, as the budget deficit for the current year slipped to 5.2% of the gross domestic product.

Finance Minister Mangala Samaraweera imposed taxes on telecom towers and text messages, and introduced a debt repayment levy of 20 cents per Rs. 1,000 bank transaction with effect from 1 April next year.

“It is a progressive budget. We see a lot of positive measures. The finance minister’s clarity on listing state banks will be a huge boost to the market liquidity,” Acuity Stockbrokers CEO Prashan Fernando said.

The Colombo Stock Index ended 0.22% weaker at 6,552.59, its lowest close in one month. For the week, it dropped 1%.

Turnover was Rs. 1.35 billion ($8.79 million) on Friday, more than this year’s average of around Rs. 954.3 million.

The Finance Minister announced tax concessions worth a monthly Rs. 1.5 billion ($9.8 million) on Wednesday to reduce the cost of living and boost consumption.

Top mobile services provider Dialog Axiata dropped 3%, while No.1 listed private lender Commercial Bank of Ceylon fell 1.3%.

Diversified conglomerate Hayleys PLC accounted for more than 50% of the day’s turnover and closed up 2.6%.

Foreign investors bought shares worth net Rs. 61.8 million, extending the net foreign inflow in equities to Rs. 18.2 billion so far this year.
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Re: Market Review

Postby PAT » Sun Nov 12, 2017 1:18 am

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Re: Market Review

Postby GB » Sun Nov 12, 2017 8:04 am

Thanks PAT.

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Re: Market Review

Postby PAT » Tue Nov 14, 2017 10:15 pm

Stock market unimpressed by 2018 budget say analysts

The 2018 budget has not been found to be attractive by the stock market as certain proposals are not clear enough for market investors.


The budget places a substantial emphasis on the SME sector and lower income categories but certain sectors, such as banking and telecom, will be negatively impacted by the budget, analysts said.


The budget imposed new taxes on motor vehicles, telecom, banks and liquor in a bid to boost revenue as the budget deficit for the current year slipped to 5.2 percent of the gross domestic product.


'The Rs. 200,000 levy on each cellular tower that mobile companies maintain would have a major impact on mobile companies, market analysts said.


Finance Minister Mangala Samaraweera imposed taxes on telecom towers and text messages and introduced a debt repayment levy of 20 cents per Rs. 1,000 bank transaction with effect from April 1 next year. 'This also impacts the banking sector, stock market analysts said.


Amid those developments the day's turnover at the CSE stood at Rs. 1.3 billion despite both indices going down. The All Share Price Index declined by 41.04 points and S and P SL20 index by 32.01 points.


There were no crossings but big parcel transactions took place in the retail market. Softlogic Life Insurance, formerly Asian Alliance, transacted a 28.13 million share parcel for Rs. 582 million and each share value was Rs. 20.20. During the day 28.14 million share volumes were traded,


In Lion Brewery, out of 979,000 shares 942,000 shares changed hands in two different parcels and Sampath Bank contributed Rs. 16 million to the market and 49,000 shares changed hands. During the day 38.64 million share volumes changed hands in 3374 transactions.


Meanwhile, JKSB reporting yesterday's CSE trade said -


ASPI: 6,511.55 (-41.04 pts; -0.63%); Val T/O: Rs. 1.29bn (US$8.39mn); Vol T/O: 38.6mn; Trades: 3,374


Advance/decline ratio: 67/115; Top gainer: BLUE.X (+25.00%) ; Top loser: AINV.N (-20.00%)


Highlights:


• The ASPI ended lower amid healthy turnover levels. AAIC and LION led market activity and collectively amounted to 86% of total turnover.


• Banks, Finance and Insurance was the most actively traded sector (-0.83%)


• Healthcare was the best performing sector (+0.11%)


• Telecommunications was the worst performing sector (-2.69%)
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Re: Market Review

Postby PAT » Fri Nov 17, 2017 11:33 am

Tea and blue chip stocks salvage stock trading

The increase in plantation sector stocks in Colombo Tea Traders Association coupled with the increase in the demand for some blue-chip stocks enabled the recovery of the Colombo Stock Exchange (CSE) yesterday, after five trading days, stock market analysts said.


The CSE was down with 175 points during the last five days but recovered after moving both indices All Share Price Index by 20.15 and S and P SL20 24.54 upward amid those developments. The day's turnover stood at Rs 1.02 billion with two crossings.


Those crossings were Lion Breweries 148,000 shares crossed for Rs 79.25 million and per share price 535 and JKH 300,000 shares crossed for Rs 44 million and per share value Rs 150.


In the retail market companies that mainly contributed to day's turnover were JKH Rs 293 million (1.95 million shares), Commercial Bank Rs 205 million (1.48 million shares) and Sampath Bank Rs 97.62 million (296,000 shares). During the day 16.64 million share volumes traded in 4754 transactions.
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Re: Market Review

Postby PAT » Sat Nov 18, 2017 1:29 am

Share price rise in banking and finance

Share prices rose in the banking and financial sector and in several blue chip companies, like JKH,at the Colombo Stock Exchange (CSE) due to a revision of proposed taxes on vehicles and an increase in the loan to value ratio on certain motor vehicles. This gave the market a lift of sorts yesterday, market analysts said.


Under the proposed loan to value ratio, it is said there would be a 90 percent increase on electric vehicles, 70 percent for hybrid vehicles and 50 percent for normal vehicles. Under this system the buyer has to pay a lower amount than the finance company when purchasing vehicles; this is one reason for the boost in the market.


Amid those developments, both indices moved upward, ie, the All Share Price Index by 34.57 points up and S and P SL20 moved up by 43.97 points taking the day's turnover level to Rs. 717.57 million with three crossings.


Those crossings came from Sampath Bank, whose 300,000 shares crossed for Rs. 103 million at a per share value of Rs. 345, Amana Bank crossed 21 million shares for Rs. 79.8 million at a per share value of Rs. 385 and Cargills Ceylon PLC's Rs 230,000 shares crossed for Rs. 46.3 million at a per share value of Rs. 201.


In the retail market, companies that mainly contributed to the day;s turnover were; Sampath Bank's Rs. 205.52 million (600,000 shares traded), Cargills Ceylon PLC Rs. 65 million (323 million shares traded) and JKH Rs. 50 million ( 326,000 shares traded). During the day 30.71 million shares changed hands in 3583 transactions.


Meanwhile, JKSB reports -


ASPI: 6,485.61 (+36.63 pts; +0.57%); Val T/O: Rs. 718mn (US$4.68mn); Vol T/O: 30.7mn; Trades: 3,583


Advance/decline ratio: 115/75; Top gainer: LLMP.X (+16.67%) ; Top loser: BLUE.X (-25.00%)


Highlights:


*The ASPI ended higher today amid moderate market turnover. SAMP, CARG, and ABL led activity levels, including crossings. Trading in SAMP amounted to 43% of total turnover.


*Banks, Finance, & Insurance was the most actively traded sector (+1.12%)


*Power & Energy was the best performing sector (+1.53%), supported by gains on HPWR (+6.97%)


*Land & Property was the worst performing sector (-1.66%), dragged down by declines on CLND (-0.95%)
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Re: Market Review

Postby PAT » Sun Nov 19, 2017 9:19 am

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Re: Market Review

Postby PAT » Tue Nov 21, 2017 11:32 pm

Stock trading continues to see bearish trend

The Colombo Stock Exchange (CSE)' did not perform well yesterday as both indices indicated downward performance. All Share Price Index moved down by 9.68 points and S and P SL20 went down by 9.86 points with a turnover of Rs 707 million with two crossings.


Those crossings were Asiri Surgical Hospital crossed 15 million shares to the tune of Rs 165 million and per share value Rs 11 and TJ Lanka's two million shares crossed for Rs 74 million and per share value Rs 37.


Retail market companies that mainly contributed to the day's turnover were JKH Rs 206.44 million (1.35 million traded), Sampath Bank Rs 54.19 million (157,000 shares traded) and TJ Lanka Rs 28 million (598,000 shares traded). During the day 30.21 million shares traded in 2922 transactions. - HS
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Re: Market Review

Postby prasa2004 » Wed Nov 22, 2017 7:19 am

Asian Stocks Surpass 2007 Peak in Global Rally:

The MSCI Asia Pacific Index broke through its 2007 peak as trading got underway in the region on Wednesday, with shares higher in Tokyo, Sydney and Seoul. All major American benchmark equity indexes reached all-time highs on Tuesday and Goldman Sachs Group Inc. lifted its forecast for U.S. stock gains in 2018, saying strong economic growth and tax reform will improve corporate earnings.

https://www.bloomberg.com/news/articles ... rkets-wrap

When can we in CSE expect such? X(

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Re: Market Review

Postby PAT » Thu Nov 23, 2017 1:21 am

Foreign investment in Sri Lankan stocks hit all-time high in 2017

ECONOMYNEXT – Foreign investment in Sri Lankan companies listed on the Colombo Stock Exchange in 2017 has hit an all-time high during a year, with Rs105.1 billion in foreign purchases so far this year, passing the record Rs104.7 billion in 2014.

The Colombo Stock Exchange said in a statement said the development follows signs of renewed foreign interest in the stock market in mid-2017.

During this period foreign buying doubled to that in the first half of 2016 and recorded an all-time high for foreign purchases in the first half of a calendar year.

“Such foreign purchases have contributed to a net foreign purchase figure of Rs18.9 billion year-to-date, a figure that is substantial compared to foreign activity in 2015/16,” the CSE said.

“Growing foreign interest in the market has also contributed to a 30% improvement in the Daily Average Turnover, where the figure has improved to Rs955 million (year-to-date) from Rs737 million in 2016.”

The CSE said foreign investors have been quick to identify buying opportunities in Sri Lankan stocks.

“An attractive market valuation (P/E), encouraging performance among listed entities, dividend payments, and capital gains tax exemptions offered to share transactions are considered to be defining factors in attracting the level of foreign investor interest the market has witnessed in 2017.”

CSE’s Head of Market Development Niroshan Wijesundere said that improving levels of foreign investor involvement has provided the CSE an opportunity to create awareness on the stock market across all investor segments.

The market continues to trade at a discount compared to regional peers and offers further opportunities for investors - with a market P/E recorded at 10.72 as of today and a majority of listed companies trading below book value, he said.

“The macroeconomic outlook continuing to improve will also offer both foreign and local investors further confidence in the Sri Lankan stock market,” Wijesundere added.

The CSE in association with the Securities and Exchange Commission of Sri Lanka (SEC) resumed a concentrated effort to create awareness on the opportunities in the capital market in key foreign markets this year, through ‘Invest Sri Lanka’ Forums in Sydney, Melbourne, Auckland and most recently in New York.

Foreign Institutional Investors and Sri Lankans living abroad present at these events indicated a sense of optimism on the investment opportunities surrounding progressive economic reforms presently being implemented in the country, the CSE said.

Foreign purchases in the stock market originating from Australia in a particular year recorded an all-time high in 2017, with a figure of Rs651 million by the week that ended 17th November 2017, it said.

“A strong community of individuals with a Sri Lankan origin eager to look at new Sri Lankan investment opportunities and the celebration of 70 years of diplomatic ties between Sri Lanka and Australia presented the CSE with a unique opportunity to promote the capital market in Australia this year.”

The CSE and SEC have also launched an island-wide local retail investor focused Investor Forum campaign to create awareness on the record foreign investment and the potential opportunities in the market for local investors, it said.

The CSE and the Colombo Stock Brokers Association are also presently conducting a series of events presenting investment research on companies featured on the S&P SL 20 Index, to an audience of Local Institutional Investors, another key investor segment in the Sri Lankan stock market.
(Colombo/Nov22/2017)
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Re: Market Review

Postby PAT » Thu Nov 23, 2017 1:33 am

Stock Market awaits fresh trigger to bounce back

The reason for Colombo Stock Exchange (CSE) for its lackluster performance in the recent past is that 2018 budget is visibly not supporting the capital market and further the overall quarterly results in all sectors including banking sector are below expectation, stock market analysts said.


Therefore, shares ended weaker yesterday also without any heavy buying by foreign investors into blue chip stocks.


Meanwhile , local retail investors stayed on the sidelines due to a lack of fresh triggers and amid expectations certain amendments in the budget could help boost sentiment, analysts said.


Amid those development both induces indicted mixed reaction ie All Share Price Index moved up by 5.71 points and S and P SL20 down by 16.36 points with a day;s turnover stood at Rs 324.34 million with one crossing.


The crossing that came from Union Bank and 1.8 million shares crossed for Rs 25.38 and per share traded at Rs 14.10. In the overall retail market companies that mainly contributed to day's turnover were JKH Rs 63.29 million (414,000 shares traded), Royal Ceramic Rs 35.9 million (315,000 shares traded) and CTC Rs 33.63 million (35000 shares changed handed). During the day 12.06 million share volumes changed hands in 3445 transactions.


Meanwhile according to JKSB Comment:


Turnover: Rs. 324.34 million


Foreign Purchases: Rs. 126.26 million


Foreign Sales: Rs. 105.55 million


Net Foreign Inflow/(Outflow): Rs. 20.71 million


Most Actively Traded Sector : Banks, Finance, & Insurance
(-0.53%)


Best Performing Sector: Telecommunications (+1.12%)


Worst Performing Sector: Power & Energy (-1.77%)
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Re: Market Review

Postby PAT » Fri Nov 24, 2017 2:12 am

Banks, finance and insurance to the fore

JKSB reported on yesterday's CSE trading as follows -


ASPI: 6,456.11 (-8.33 pts; -0.13%); Val T/O: Rs. 1.49bn (US$9.70mn); Vol T/O: 15.1mn; Trades: 2,663


Advance/decline ratio: 68/92; Top gainer: SEMB.X (+50.00%) ; Top loser: PCP.N (-50.00%)


Highlights:


• The ASPI ended lower amid healthy market turnover. COMB, SAMP, and HNB led market activity with trading in COMB amounting to 82% of total turnover.


• Banks, Finance, & Insurance was the most actively traded sector
(-0.17%)


• Power & Energy was the best performing sector (+0.65%), supported by gains on LIOC (+1.76%)


• Plantations was the worst performing sector (-1.68%), dragged down by declines on MAL (-3.51%)
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Re: Market Review

Postby PAT » Sat Nov 25, 2017 10:27 am

ASPI dip at CSE

JKSB reported on yesterday's CSE trading as follows:


ASPI: 6,413.68 (-42.43 pts; -0.66%); Val T/O: Rs. 596mn (US$3.88mn); Vol T/O: 14.1mn; Trades: 3,259


Advance/decline ratio: 61/110; Top gainer: SELI.N (+24.20%) ; Top loser: BLUE.X (-25.00%)


Highlights:


*The ASPI ended lower today amid subdued turnover levels. SAMP, CARG, and NEST led market activity including crossings. Trading in SAMP amounted to 23% of total turnover.


*Beverage, Food, & Tobacco was the most actively traded sector (-1.12%)


*Chemicals & Pharmaceuticals was the best performing sector (+2.38%), supported by gains on CIC (+3.08%)


*Services was the worst performing sector (-2.57%), dragged down by declines on JKL (-1.70%)
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Re: Market Review

Postby PAT » Sat Nov 25, 2017 10:33 am

Bourse down to 2-month closing low on foreign selling

Reuters: Shares fell to a near two-month closing low on Friday on foreign selling, while investors waited for clarity on new taxes introduced in the national budget and on key legislations.

The Colombo stock index ended 0.66% weaker at 6,413.68, its lowest close since 26 September. The index fell 1.1% during the week, but is still up 3% for the year so far.

Turnover stood at Rs. 596.4 million on Friday, less than this year’s average of around Rs. 953.3 million.

“It is turning into a typical year-end market. But, we expect to see foreign activity supporting the market. They see value in some select shares,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

Foreign investors net sold equities worth Rs. 117.5 million ($ 764,476) on Friday, but they have bought a net Rs. 18.4 billion worth of stocks so far this year.

Top fixed-line phone operator Sri Lanka Telecom fell 5.4% and Lion Brewery Ceylon Plc lost 4.9%, dragging the overall index down.

Analysts said political worries over delay in local government polls and a lack of clarity over budget and two other key policy measures also weighed on sentiment.

A court on Wednesday issued a stay order on a legislation that cleared the island nation’s Election Commission to hold local government polls in which the coalition partners of the government have decided to contest separately.

Finance Minister Mangala Samaraweera imposed new taxes on motor vehicles, telecoms, banks and liquor in the 2018 Budget presented earlier this month, with the final budget vote scheduled for 9 December.

Analysts said market participants have sought more clarity on these taxes and that there could be some amendments to these proposals before the final vote.

The Government also released gazette notifications on the Inland Revenue Act and the Exchange Control Act, with investors waiting for clarification on the new legislations.
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Re: Market Review

Postby PAT » Sun Nov 26, 2017 12:48 am

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Re: Market Review

Postby NC+ » Sun Nov 26, 2017 6:28 am

Thanks PAT
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Re: Market Review

Postby PAT » Fri Dec 01, 2017 1:25 am

Stock market 'under the weather'

The Colombo Stock Exchange (CSE) performance was rather sluggish due to the prevailing severe weather conditions coupled with political uncertainty in the country.. Economic prospects of the country seem to be bleak due to the adverse weather conditions, which have a direct impact on the whole economy, stock market analysts said.


During the day both indices moved up ie, All Share Price Index by 6.31 points and S and P SL20 by 2.68 points. The day's turnover stood at Rs, 451 million with three crossings. Those crossings were; Dialog 13.89 million shares crossed to the tune of Rs. 187 million and the single share price traded at Rs. 13.50, Chevron Lubricants 350,000 shares crossed for Rs. 40.6 million and per share value was Rs. 116 and Access Engineering one million shares crossed for Rs. 23.5 million at a per share value of Rs. 23.50.


When it comes to the retail market, companies that mainly contributed to the day's turnover were Ceylon Cold Stores Rs. 60 million (65,000 shares traded) , JKH Rs. 20.36 million (131,000 shares traded) and Chevron Lubricants Rs. 15 million (128,000 shares traded). It is said that 23.33 million share volumes changed hands in 2346 transactions.


During the day there was low participation from retail investors but three crossings contributed more than half to the day's turnover.
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Re: Market Review

Postby PAT » Sun Dec 03, 2017 10:51 am

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Re: Market Review

Postby PAT » Mon Dec 04, 2017 9:31 am

Daily average turnover hits 16-week low

The Bourse continued to lose ground further as the ASPI decreased marginally by 1.84 points (or -0.03%) to close at 6,411.84 points, while the S&P SL20 Index also decreased by 8.14 points (or -0.22%) to close at 3,724.96 points.

Turnover and market capitalization

Commercial Bank was the highest contributor to the week’s turnover value, contributing LKR0.42Bn or 22.85% of total turnover value.

JKH followed suit, accounting for 14.45% of turnover (value of LKR0.26Bn) while Dialog Axiata contributed LKR0.19Bn to account for 10.62% of the week’s turnover. Total turnover value amounted to LKR1.83Bn (cf. last week’s value of LKR4.69Bn), while daily average turnover value amounted to LKR0.46Bn (-51.21% W-o-W) compared to last week’s average of LKR 0.94Bn.

Market capitalization meanwhile, decreased by 0.03% W-o-W (or LKR 0.84Bn) to LKR2,922.66Bn cf. LKR2,923.50Bn last week.

Liquidity (in value terms)

The Banking, Finance & Insurance Sector was the highest contributor to the week’s total turnover value, accounting for 38.65% (or LKR 0.71Bn) of market turnover.

Sector turnover was driven primarily by Commercial Bank, Sampath Bank, HNB & NDB which accounted for 86.72% of the sector’s total turnover.

The Diversified Sector meanwhile accounted for 18.40% (or LKR 0.34Bn) of the total turnover value with turnover driven primarily by JKH which accounted for 78.53% of the sector turnover.

The Beverage, Food & Tobacco Sector was also amongst the top sectorial contributors, contributing 14.12% (or LKR 0.26Bn) to the market driven by Cargills and Cold Stores which accounted for 84.21% of the sector turnover.

Liquidity (in volume terms)

The Diversified sector dominated the market in terms of share volume, accounting for 36.47% (or 23.87Mn shares) of total volume, with a value contribution of LKR 0.34Bn.

The Telecom sector followed suit, adding 22.06% to total turnover volume as 14.44Mn shares were exchanged.

The sector’s volume accounted for LKR0.19Bn of total market turnover value. The Banking, Finance & Insurance Sector meanwhile, contributed 9.19Mn shares (or 14.04%), amounting to LKR0.71Bn.

gainers and losers

Paragon was the week’s highest price gainer; increasing 24.7% W-o-W from LKR53.80 to LKR67.10. CIT gained 22.5% W-o-W to close at LKR88.30. Hunas Falls (+12.1% W-o-W) and Lanka Aluminium (+11.3% W-o-W) were also amongst the gainers.

SMB Leasing[NV] was the week’s highest price loser, declining 33.3% W-o-W to close at LKR0.20 while CIC (-14.2% Y-o-Y), Merc Shipping (-14.0% W-o-W) & Adam Capital(-12.5% W-o-W) were also amongst the top losers over the week.

Foreign investors closed the week in a net selling position with total net outflows amounting to LKR 0.14Bn relative to last week’s total net outflow of LKR 1.21Bn (-88.3% W-o-W).

Total foreign purchases decreased by 57.7% W-o-W to LKR 0.84Bn from last week’s value of LKR 1.99Bn, while total foreign sales amounted to LKR 0.98Bn relative to LKR 3.20Bn recorded last week (-69.27% W-o-W).

In terms of volume, Dialog Axiata & JKH led foreign purchases while Commercial Bank & Chevron led foreign sales. In terms of value JKH & Sampath Bank led foreign purchases while Commercial Bank & Chevron led foreign sales.

Point of view

Equities closed flat this week as investors adopted a watchful stance in the absence of any major economic/market developments and as concerns over delays in LG polls and the lack of clarity over certain policy measures weighed down sentiment.

The broadshare ASPI closed the week largely unchanged at 6411.8 points (6413.6 points last week) as an 11.9 point loss on Tuesday was mostly offset by a 10.1 point gain over the rest of the week.

Dull activity however, pushed turnover levels to a 3-month low, and daily average turnover levels fell to a paltry LKR0.46Bn this week, the lowest since August when it hit a low of LKR0.45Bn. Low HNI and Institutional participation also contributed to the general sluggishness, with crossings for the week accounting for just 31% of total market turnover cf. last week’s 36%. Markets over the month of November have fallen 3.1%, wiping off the 2.8% gain in October and the 0.7% gain in the Index in September.

Flat earnings performance over the September quarter along with policy uncertainty post the national budget have contributed the Index’s weaker performance in November.

Corporate earnings of 95% of the market totaled LKR60Bn in the Sept’17 quarter, unchanged from the LKR60.2Bn recorded in the Sept’16 quarter. Markets in the week ahead are likely to remain largely unchanged as they continue to consolidate at the current levels.

Exports surpass $1 bn for third consecutive month

Exports in September surpassed the $1Bn mark for the 3rd consecutive month, driven by i) stronger textiles/garment exports and, ii) the re-export of petroleum products which rose both due to higher price and volume.

Export gains were minimized however by higher imports, which grew at double digit levels for the third consecutive month on the back of higher fuel imports (for thermal power generation) and base metals (for cement & construction).

The trade deficit consequently widened in September 2017 to $656Mn (cf. $610Mn in Sept’16) and pushed up the cumulative trade deficit during the first nine months of 2017 to $6840Mn from $6125Mn in Sept’16.

Performance in other major inflows to the current account meanwhile remained lower in Sep’17 as lower tourist earnings (-2.3% Y-o-Y) on the back of lower tourist arrivals and declining worker remittances (-16.7% Y-o-Y) on the back of slow growth and geo-political instability in the Middle-East dampened inflows.

Financial flows to Sri Lanka however, continued to remain strong over Sept, with foreign investments in G-secs continuing strongly for the 7th consecutive month and helping offset the impact of the net outflow from the CSE on the back of a one-off transaction in secondary markets.

Gross official reserves at end-Sept consequently increased to $7.3Bn (ie: 4.2 months of imports), helping the LKR stabilize and record a relatively modest depreciation of 2.5% YTD against the USD.
http://www.dailynews.lk/2017/12/04/busi ... 6-week-low
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Re: Market Review

Postby PAT » Tue Dec 05, 2017 11:43 pm

Sri Lankan stocks close lower, foreigners buy bank stocks

ECONOMYNEXT – Sri Lankan shares ended lower Tuesday with foreign investors net buying, taking stakes in the finance and banking sector stocks, broker said.

The benchmark All Share Price Index fell 15.36 points (.24%) to close at 6,390.55 while the more liquid SP SL20 index closed at 3,716.50, down 4.34 points (0.12%). Turnover was Rs 918 million.

“High foreign participation led to a net foreign inflow to the market,” First Capital Equities said in a report.

Asia Securities said crossings or off-the-floor negotiated deals accounted for 48% of turnover with three crossings in John Keells Holdings, and one crossing each in Tokyo Cement, Hemas Holdings, Nestle’s local unit, Lion Brewery and Commercial Credit and Finance.

Foreign investors were net buyers of Rs90 million worth of shares, mainly in Commercial Credit and Finance, Sampath Bank and Hatton National Bank. Estimated net foreign selling was mainly in Tokyo Cement.

Commercial Credit cloed unchanged at Rs43.
(COLOMBO, December 5, 2017)
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Re: Market Review

Postby ExpertTortoise » Thu Dec 07, 2017 7:43 pm

So I read this article this morning..

Stock Market Crash 2018: Why the Fundamentals Start Mattering Again

Anyone here think there's a good chance that there will be a 50% crash in the market next year? Any thoughts on this and how this is going to impact us in real estate?

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Re: Market Review

Postby PAT » Sat Dec 09, 2017 3:37 pm

Blue chip share price fluctuations negatively impact market
The Colombo Stock Exchange (CSE) performance during the week showed a downward trend owing to the JKH share value dropping by one percent, which negatively impacted the entire market. However, there was a bit of a turnaround on Thursday but it was short lived due JKH and Dialog share price fluctuations, stock market sources aid.


JKH, the largest listed company at the CSE, saw its share price drop by one percent and its price per share settled at Rs. 153.90 in the course of yesterday. Further, Dialog stocks also traded negatively in the morning but its share price became stable at Rs. 13 in the latter part of the day. These developments had a direct influence on the entire market, stock market analysts said. Amid those developments, both indices showed mixed reaction; ie, the All Share Price Index went down by 7.74 points and S and P SL20 index went up slightly by 0.54 points. Day's turnover stood at Rs. 825.73 million with three crossings. Those crossings were; NTB 3.3 million shares crossed at Rs. 263.9 million at a per share value of Rs. 80, Chevron Lubricants' 1.5 million shares crossed at Rs. 165.33 million at a per share value of Rs. 110 and CTC 77000 shares crossed for Rs. 73.9 million and the per share value was Rs. 960..


In the retail market, companies that mainly contributed to the day's turnover were: Hemas Holdings Rs. 122.7 million (944.000 shares), Chevron Lubricants Rs. 48.5 million (439,000 shares) and Sampath Bank Rs. 30 million (90,000 shares traded). During the day 12.22 million share volumes traded in 2290 transactions.


"We see a typical year-end market. Foreign investor interest continues but local investors are a bit silent due to uncertain market conditions , market analysts said.


Worries over a delay in local council polls and a lack of clarity over the budget and two other key policy measures weighed on sentiment, analysts said.


Meanwhile, JKSB reported ASPI: 6,375.21 (-7.74 pts; -0.12%); Val T/O: Rs. 821mn (US$5.36mn); Vol T/O: 12.2mn; Trades: 2,290


Advance/decline ratio: 64/85; Top gainer: PMB.N (+18.70%) ; Top loser: GOOD.N (-23.87%)


Highlights:


*The ASPI ended lower amid moderate market turnover. NTB, LLUB, and HHL led activity levels with a crossing also seen in CTC. Trading in NTB accounted for 32% of total turnover.


*Banks, Finance, & Insurance was the most actively traded sector (+0.04%)


*Chemicals & Pharmaceuticals was the best performing sector (+1.28%), supported by gains on CIC (+3.16%)


*Footwear & Textiles was the worst performing sector (-3.65%), dragged down by declines on MGT (-1.41%)
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Re: Market Review

Postby PAT » Wed Dec 13, 2017 9:45 pm

Sri Lankan stocks steady near 8-mth closing low; lenders gain

December, 13, 2017


Reuters - Sri Lankan shares ended steady on Tuesday after hitting their lowest close in nearly eight months in the previous session, as gains in lenders offset losses in shares of diversified companies.

The Colombo Stock Index rose 0.05 percent to 6,360.36, up from its lowest close since April 17 hit on Monday. The index lost 0.6 percent last week in its fifth consecutive weekly drop, but is still up 2 percent so far this year.

“Foreign buying pushed the turnover levels. It’s positive on the overall market that the foreigners are willing to pay a premium and get valued stocks,” said Hussain Gani, Deputy CEO at Softlogic Stockbrokers.

Turnover was 999.8 million Sri Lankan rupees ($6.53 million), more than this year’s daily average of 941 million rupees.

Foreign investors bought a net 164.5 million rupees worth of shares, extending the year-to-date net foreign inflow to 18.3 billion rupees worth of equities.

Shares of biggest listed lender Commercial Bank of Ceylon Plc ended 2.9 percent higher, while conglomerate John Keells fell 0.8 percent.

Worries over a delay in local council polls and a lack of clarity over the budget and two other key policy measures weighed on sentiment, analysts said.

The Election Commission said on Dec. 4 that the council polls would be held before Feb. 17, amid concerns over political stability as coalition partners in President Maithripala Sirisena’s government had decided to contest separately in the council polls.
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