Market Review

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Re: Market Review

Postby solace » Mon Jun 18, 2018 7:43 am

Thanks PAT.
Would have been much worse had not the corporate earnings strong.

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Re: Market Review

Postby SHARK » Mon Jun 18, 2018 10:39 am

Time to time irrespective of the main index movement, cse has given notable capital gains through individual brilliant performances :D
Price is what you pay. Value is what you get.”

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Re: Market Review

Postby lukedesilva » Mon Jun 18, 2018 10:45 am

Absolutely Sharki.

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Re: Market Review

Postby prasa2004 » Mon Jun 18, 2018 2:45 pm

CSE getting battered and bruised. Cannot even look at my portfolio as sea of RED. CSE never had a decent run for many months/years compared to the run other emerging markets had. And now with foreigners exiting emerging markets and exerting CCY pressure, where else CSE can land? Pathetic situation for investors.

Emerging Asia Hit by Biggest Foreign Investor Exodus Since 2008
https://www.bloomberg.com/news/articles ... since-2008

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Re: Market Review

Postby helloworld » Tue Jun 19, 2018 1:31 pm

True i am also fed up of this movement. Gained huge losses from LLUB and others. Thinking of investing in sometime else. Like gold and other commodities.

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Re: Market Review

Postby PAT » Tue Jun 19, 2018 11:13 pm

Sri Lanka rupee at 160 to the US dollar, stocks fall 0.71-pct

ECONOMYNEXT - The Sri Lanka rupee weakened to close at 159.95//160.05 rupees against the greenback, while stocks fell 0.71 percent on selling in index-heavy John Keells holdings, brokers and dealers said.

The US dollar closed at 159.90/95 rupees the previous day.



Interbank markets were short by 19.4 billion rupees, up from 18.5 billion rupees the previous day with the Central Bank injecting 25 billion rupees in new money through an overnight reverse repo auction at 8.50 percent.

Keeping the market short reduces pressure on the rupee.

Banks which were short borrowed 12 billion rupees in new money from the Central Bank's overnight window, and banks with excess liquidity deposited 17.6 billion rupees in the central bank.

Gilt yields were steady in the secondary Treasury bonds market.

A five-year bond maturing in 2023 closed at 10.43/45 percent in two-way quotes, marginally narrower from the previous day's closing of 10.42/45 percent.

A ten-year bond maturing in 2028 closed at 10.68/72 percent, up from 10.65/70 percent the previous day.

The Colombo All Share Index fell 0.71 percent, down 44.78 points to 6,265.73, and the S&P SL20 of more liquid stocks fell 1.15 percent, down 40.37 points to 3,473.52.

Market turnover was 638.6 million rupees, down from 1.3 billion rupees the previous day.

Index-heavy John Keells Holdings, Ceylon Tobacco, HNB and Commercial Bank weighed down the benchmark index with 106 stocks declining during the day against 50 that gained.

John Keells closed 4.90 rupees lower at 150.10 rupees and Ceylon Tobacco fell 18.10 rupees to 1,100.10 rupees.

HNB fell 4.80 rupees to 235 rupees and Commercial Bank closed 1.60 rupees lower at 125.30 rupees.

Net foreign buying was 76.2 million rupees, compared to selling of 98.8 million rupees the previous day.

Foreign buying was 101 million rupees in Dialog (up 30 cents to 14.50 rupees) and selling in John Keells Holdings was 30 million rupees, according to Asia Securities.

Off-market negotiated trades, or crossings amounted to 51 percent of market turnover comprising seven crossings in John Keells Holdings totalling 326.7 million rupees. (COLOMBO, 19 June, 2018)
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Re: Market Review

Postby PAT » Fri Jun 22, 2018 12:47 am

Sri Lanka rupee gains on export conversions, stocks gain 0.18-pct


ECONOMYNEXT - The Sri Lanka rupee strengthened against the US dollar Thursday on panic selling by exporters on news of China Merchant Port paying the last tranche of 584 million dollars for lease of the Hambantota Port, as gilt yields edged higher and stocks gained 0.18 percent, brokers and dealers said.

The rupee gained to 159.70/80 rupees against the greenback helped by export conversions from the previous day's closing of 159.95/160.10 rupees, dealers said.

The rupee gained sharply in early trading Thursday to 159.40/45 rupees against the US dollar on panic selling by exporters who expected the China Merchant payment to appreciate the currency, dealers said.

However, the 584 million US dollar payment was absorbed to central bank reserves and importer demand returned to weaken the currency slightly.

The China Merchant Port payment was the final tranche of the 1.12 billion dollar debt-to-equity deal which will give China lease of the Southern port for 99 years.

The US dollar closed at 159.95/160.10 rupees the previous day.

Interbank markets continued to be short, at 7.08 billion rupees on Thursday, down from 12.95 billion rupees the previous day. Short money markets help stabilise the rupee.

The Central Bank injected 15 billion in new money through an overnight reverse repo auction at 8.46 percent, below the Central Bank's overnight lending window.

Banks which were short borrowed 7 rupees in new money from the Central Bank's overnight window, and banks with excess liquidity deposited 14.94 billion rupees in the central bank.

Gilt yields edged up marginally in the secondary Treasury bonds market.

A five-year bond maturing in 2023 closed at 10.42/48 percent in two-way quotes, marginally up from the previous day's closing of 10.40/47 percent.

A ten-year bond maturing in 2028 closed at 10.68/77 percent, up from 10.66/76 percent the previous day

In equities, the Colombo All Share index closed 0.18 percent higher, gaining 11.15 points to 6,229.06, and the S&P SL20 of more liquid stocks gained 0.02 percent, up 0.57 points to 3,431.30.

Market turnover was 416.2 million rupees, up from 341.5 million rupees a day earlier, with 65 stocks closing higher against 80 that declined.

Ceylon Tobacco (up 19.90 rupees at 1,120 rupees), Sri Lanka Telecom (up 90 cents to 24.80 rupees) and Distilleries (up 30 cents to 20.70 rupees) contributed to the benchmark index gain.

Net foreign selling was 34 million rupees, against selling of 31.4 million rupees the previous day.

Foreign selling in John Keells Holdings was 44 million rupees. The stock closed 10 cents lower at 150 rupees.

HNB (down 10 cents to 230 rupees) saw one crossing, or off-market negotiated trade, at 42.5 million rupees. (COLOMBO, 21 June 2018)
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Re: Market Review

Postby PAT » Sun Jun 24, 2018 9:27 am

ASPI losing streak continues for fifth week running
Benchmark index down 313 points (1.63%) since late April

The ASPI extended its losing streak for the fifth consecutive week to push past the key psychological mark of 6,300 points to end at 6,228.15 with the main share index recording the highest weekly loss for the year during the week, Acuity Stockbrokers said in their Share Market Weekly.


It noted that the ASPI lost 103 points (1.63%) as heavyweight JKH dropped 4.0% to end at Rs.150. The YTD loss on the Benchmark price Index by end-week was 2.2%, highlighting the ~313 point (4.8%) dip since late April when the ASPI began to drop.


"Notably, ASPI had ended a week in a positive note only once since late April. More liquid S&P20 SL index also dropped 99 points (2.80%) during the week and consequently YTD loss on the index widened further to 3.9%," the report said.


But activity levels in the market improved during the week as turnover increased 48% to Rs.3.0Bn. with activity driven last week mainly by high net worth and local institutional investors as crossings accounted for 44% of the week’s turnover, Acuity said.


JKH accounted for ~50% of the crossings while Hemas & Lanka Walltiles accounted for 31% and 11% respectively with these trades helping to push average turnover value to Rs.0.6Bn cf. Rs.0.5Bn the previous week, Acuity said.


The report noted that foreign investors continued to withdraw funds from Sri Lankan equities during the week however, at a slower pace as net foreign outflows during last week amounted to Rs.161Mn cf. Rs.219Mn the previous week.


"Despite last week’s foreign equity sell-off, foreign appetite for relatively undervalued Sri Lankan equities has remained positive thus far in Q2’18 with total net inflows in Q2’18 totaling to ~Rs1.5Bn (cf. outflow of Rs.2.6Bn in Q1’18).


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

Postby PAT » Tue Jun 26, 2018 10:43 pm

Sri Lanka rupee strengthens, stocks fall 0.52-pct

ECONOMYNEXT - The Sri Lanka rupee gained sharply against the US dollar on Tuesday on export dollar sales, as gilt yields edged higher and stocks closed 0.52 percent lower amidst foreign buying in banking stocks, brokers and dealers said.

The rupee closed at 158.30/45 rupees to the US dollar in the spot market on export conversions and banks selling greenbacks, dealers said. The US dollar closed at 158.70/90 rupees the previous day.

The rupee fell to an all-time low of 160.20 rupees against the greenback last week before recovering on news that China Merchant Port Holdings Limited (CM Port) had paid Sri Lanka the final tranche of 584 million US dollars for its lease of the southern Hambantota Port.

Better monetary policy than earlier and easing global oil prices were also contributing to easing the pressure on the currency, dealers said.

Market liquidity has improved in recent days to around 2 billion rupees on Tuesday, suggesting the central bank was not intervening in the forex market, they said.

Gilt yields edged upwards on thin trading volumes in the secondary bond market.

A five-year bond maturing in 2023 closed at 10.41/11.00 percent in two-way quotes, up from 10.41/48 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.65/77 percent, up from 10.66/74 percent the previous day.

In equities, the Colombo All Share index closed 0.52 percent lower, down 32.08 points to 6,188.05, and the S&P SL20 of more liquid stocks fell 0.68 percent, down 23.17 points to 3,397.89.

Market turnover was 541.2 million rupees, recovering from 176 million rupees the previous day, with 40 stocks making gains and 96 declining.

John Keells Holdings (down 2 rupees to 148 million rupees), Sri Lanka Telecom (down 1.50 rupees to 24.20 rupees) and HNB (down 5.10 rupees to 225 rupees) weighed down the benchmark index.

Net foreign selling was 26.3 million rupees, compared to selling of 18 million rupees on Monday.

Foreign selling in John Keells Holdings was 73 million rupees, according to Asia Securities.

Foreign buying in Sampath Bank was 25 million rupees, followed by 15 million rupees in HNB and 13 million rupees in NDB Bank.

Sampath Bank closed 1.40 rupees lower at 304.10 rupees and NDB Bank was down 30 cents to 122.50 rupees.

Five crossings, or off-market negotiated trades, amounted to 302 million rupees composed of three deals in John Keells Holdings (199.8 million rupees) and three in Commercial Bank (102.3 million rupees).

Commercial Bank gained 70 cents to 123.80 rupees. (COLOMBO, 26 June 2018)
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Re: Market Review

Postby PAT » Sun Jul 01, 2018 9:20 am

Share slump here reflect rout in Emerging and Frontier Markets
Sri Lankan equities tracked the rout in Emerging and Frontier market assets, resulting in the benchmark ASPI posting losses for the sixth consecutive week, Acuity Stockbrokers said in their Share Market Weekly.

"Losses on EM/FM equity markets have heightened over the last three weeks as trade tensions between US and China have intensified, leading to concerns over how a trade war between the world’s two biggest economies could curtail growth at a time when the US Fed is accelerating its rate hikes and oil prices are rising," the report said.
"The foreign equity sell-off on domestic equities consequently continued for the third consecutive week, pushing the broad-share Index to its lowest (6,194.63 points) since April’17 (6,146.69 points). Tracking the general decline in EM/FM equity markets (which are expected to record its worst quarterly losses since Sep’2015), foreign sales from the Colombo Bourse rose 36% last week, pushing the net outflow position on the CSE over the last three weeks to Rs.772Mn, and increasing the YTD net foreign outflows from the CSE up to Rs. 1.5Bn (from Rs.757Mn previously)."


Local retail, HNI and Institutional buying also remained largely sluggish over the week, with daily turnover levels averaging just Rs.550Mn through most of the week, Acuity said.


" A burst of HNI and Institutional buying on Thursday however, helped push daily turnover value to Rs.1.3Bn. Crossings over the week consequently amounted to 61% of total market turnover (up from the YTD average of 42%) with the majority of interest concentrated on blue-chips JKH, HNB and COMB, which cumulatively accounted for ~77% of the week’s total crossings."


Markets in the week ahead are likely to continue to take cues from global financial market movements & volatility, Acuity expected.
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Re: Market Review

Postby solace » Mon Jul 02, 2018 6:16 pm

It seems nothing works for CSE at this moment.

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Re: Market Review

Postby PAT » Mon Jul 02, 2018 10:37 pm

Sri Lanka stocks down 1.07-pct, rupee slightly weaker
ECONOMYNEXT – Sri Lankan stocks closed lower Monday with block deals dominating and continued foreign selling in companies with a heavy weighting on the indices while the rupee also ended weaker against the US dollar, brokers and dealers said.

The All Share Price Index of the Colombo stock exchange fell 66.29 points (1.07%) to close at 6,128.34 while the more liquid SP SL20 index ended at 3,348.28, down 40.60 points (1.20%). Turnover was Rs756 million.

Brokers First Capital Equities said it was the main index was the lowest in almost 15 months and Monday's fall the highest drop in two years, witth the main index dragged down by falls in John Keells Holdings and Distilleries Corp.

Brokers Asia Securities said crossings or off-the floor negotiated deals accounted for 77% of the turnover.

There were three deals in Commercial Bank which closed at Rs122.70, down 30 cents (0.24%), and one each in John Keells Holdings, which fell Rs2.80 (1.9%) to Rs144.70, Dialog Axiata, which ended at Rs14.00, down 20 cents (1.41%) and Hatton National Bank, which closed at Rs223.20, down Rs1.80 (0.80%).

Foreign investors were net sellers of Rs311.2 million worth of shares, Asia Securities said.

Estimated net foreign buying was mainly in HNB while net foreign selling was highest in Commercial Bank.

The rupee closed slightly weaker against the US dollar at 158.40/50 from Friday’s close of Rs158.20/40, dealers said.
(COLOMBO, July 02, 2018)
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Re: Market Review

Postby GB » Mon Jul 02, 2018 11:24 pm

Thanks PAT

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Re: Market Review

Postby SHARK » Fri Jul 06, 2018 8:48 am

Reuters - Sri Lankan shares rose 1.2 percent on Thursday, the most in seven-and-a-half months, as investors bought into blue chips such as Ceylon Tobacco Co Plc and John Keells Holdings Plc after three straight sessions of sharp fall.

However, continued foreign investor selling and concerns about lower economic growth limited the gains, analysts said.

The Colombo stock index ended 1.22 percent higher at 6,117.86, in its sharpest daily gain since Nov. 21, after declining 1.5 percent earlier in the session. It hit its lowest close since March 30, 2017 on Wednesday, and has declined for a 17th session in 20 through Thursday.

“Market bounced backed as stocks were attractive and investors must have seen the value in those blue-chip counters,” said Hussain Gani, deputy chief executive at Softlogic Stockbrokers.

“It looks like 6,100 is the resistance level and we might see market holding on at these levels.”
Meanwhile, the central bank is likely to keep key interest rates unchanged at its policy review on Friday, but a rate hike cannot be ruled out as the authorities struggle to ease depreciation pressure on the rupee.

Foreign investors sold Sri Lankan equities for an 11th consecutive session, extending the foreign outflow to 1.3 billion rupees ($8.19 million).

They net sold equities worth 163.3 million rupees, extending the year-to-date foreign outflows to 2.07 billion rupees.

Turnover was 512.2 million rupees, less than this year’s daily average of 922.8 million rupees.

John Keells closed 1.5 percent higher, Ceylon Tobacco rose 1.2 percent, Distillers Co of Sri Lanka Plc ended 10.4 percent firmer, and leading fixed line telephone operator Sri Lanka Telecom Plc gained 3.8 percent.

Investors are waiting for some positive news both on the economic and political fronts, said analysts, adding that the government’s policy implementation had been sluggish since both main parties in the ruling coalition lost local polls in February.

Finance Minister Mangala Samaraweera said last month that the economy was likely to grow about 4.5 percent this year, below a central bank estimate of 5 percent.

The International Monetary Fund (IMF) said on June 20 that Sri Lanka’s economy remained vulnerable to adverse shocks because of sizable public debt and large refinancing needs.

Ratings agency Moody’s said last week a strengthening U.S. dollar since mid-April has increased the credit risk of several emerging markets, including Sri Lanka, due to currency depreciation.

Moody’s said a strong U.S. dollar would also lead to a drop in foreign exchange reserves of countries such as Argentina, Ghana, Mongolia, Pakistan, Sri Lanka, Turkey, and Zambia.
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Re: Market Review

Postby PAT » Mon Jul 16, 2018 9:30 am

ASPI positive for first time since late May says Acuity

Sri Lankan equities reversed seven consecutive weeks of negative returns last week, helping the ASPI end on a positive note for the first time since late-May this year, Acuity Srtockbrokers said in their Share Market Weekly.


It noted that despite temporarily falling below the key 6,100 level, the benchmark Index gained ~29 points or 0.48% over the week (cf. -86 point loss the previous week) and similar to that week when the Index breached the 6,100-mark to hit a 15-month low of 6044.03, the ASPI lost ~31 points on Monday to drag the index once again below this key 6100-mark.


However, the ASPI rebounded notably over the latter half of last week and its ~61 point gain between Wednesday and Friday more than offset the losses recorded earlier in the week and helped push the Index safely above the 6,100-mark for the second consecutive week, the report said.


"The stronger performance on the Index was mainly attributable to the return of Institutional and high net worth investors and crossings accounted for 46% of weekly turnover (cf. just 36% a week earlier) with Jetwing Symphony and HNB accounting for 53% of the bulk parcels," Acuity said.


"Despite the Index’s stronger performance, overall activity levels on the Bourse remained dull, with turnover decreasing 31% W-o-W to Rs.2.0Bn. Daily turnover levels subsequently hit a 12-week low on both Monday (Rs.155Mn) and Tuesday (Rs143Mn) cf. the previous low of Rs.102Mn recorded in Mid-April amid the traditional New-Year holidays."


The foreign equity sell-off on equities meanwhile, continued once again last week with net outflows from the CSE amounting to Rs.221Mn cf. Rs.900Mn a week earlier. Net foreign outflows from the CSE widened further to Rs.2.8Bn, reflecting the heightened risk-aversion for Emerging and Frontier Market assets since Feb., 2018.

Acuity expected markets in the week ahead likely to look for cues both from domestic political & economic developments.
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Re: Market Review

Postby PAT » Sat Jul 21, 2018 10:37 am

Sri Lanka rupee strengthens, stocks gain 0.13-pct

ECONOMYNEXT - The Sri Lanka rupee strengthened against the US dollar on Friday as gilt yields closed higher on profit taking and stocks gained 0.13 percent on low volumes amidst foreign buying in banking stocks, brokers and dealers said.

The rupee closed at 159.90/160.00 rupees against the US dollar in the spot market Friday after export conversions strengthened the currency from an intra-day low of 160.05 rupees against the greenback, dealers said.

The US dollar closed at 159.95/160.05 rupees on Thursday.

Gilt yields increased on profit taking in the secondary market for government bonds, dealers said.

A five-year bond maturing in 2023 closed 10.16/24 percent, up from 10.12/18 percent the previous close.

A ten-year bond maturing in 2028 closed at 10.52/65 percent, up from 10.50/60 percent the previous day.

In equities, the Colombo All Share index closed 0.13 percent higher, up 8.15 points to 6,191.17, and the S&P SL20 of more liquid stocks gained 0.31 percent, up 10.67 points to 3,400.43.

Market turnover was 207.1 million rupees, down from 634.7 million rupees the previous day.

Ceylinco Insurance (up 55.10 rupees to 1,655.10 rupees), Lanka Orix Leasing (up 1.90 rupees to 95 rupees) and Jetwing Symphony (up 1.20 rupees to 12.20 rupees) contributed to the benchmark index gain, with 76 stocks making gains during the day against 44 that declined.

John Keells Holdings closed 1.40 rupees lower at 148.10 rupees.

Net foreign buying was 26.2 million rupees, compared to buying of 73.7 million rupees the previous day.

Foreign buying in Commercial Bank was 22 million rupees, followed by 6 million rupees in Sampath Bank, Asia Securities said.

Commercial Bank closed 40 cents higher at 129 rupees and Sampath Bank gained 80 cents to 302 rupees. (COLOMBO, 20 July 2018)
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Re: Market Review

Postby PAT » Sun Jul 22, 2018 9:31 am

Bargain hunting on blue chips helps ASPI, foreign sell-off continues

Bargain-hunting on blue-chips and select mid-caps sustained positive market momentum for the second consecutive week, helping the broad-share Index gain almost 1% last week, Acuity Stockbrokers said in their Share Market Weekly.


"The ASPI gained ~53 points (0.9% W-o-W) relative to the previous week’s 29.4 point (0.5%) gain, helping the Index close just 8-points shy of the 6200-mark and maintaining last week’s positive momentum after almost two-months of consistent declines, the report said.." Strong buying interest in blue chips JKH and HNB contributed to ~23 index points (of the 53 index point gain) while interest in other key stocks such as SAMP, NEST, COMB, DIST, DIAL, Access, TJL and CINS also contributed notably to the gains."


Market momentum was driven primarily by retail and high net worth investors, with institutional investors remaining on the sidelines this week, Acuity noted. Crossings over the week accounted for just 20% of the markets total turnover of Rs. 2.1Bn, down from the previous week’s participation level of 46% and lower than the average YTD participation level of 42%.


Despite the lower participation levels of the local institutional investors, daily average turnover for the week rose 8.8% W-o-W to Rs. 0.42Bn, up from the week’s daily average turnover of Rs.0.39Bn, a week earlier.


However, despite the gains on the Index, the foreign equity sell-off on domestic equities continued for the sixth consecutive week, reflecting the decline in global risk-appetite for risky Emergin Markets/Frontier Markets assets and commodities amid heightened US-China trade tensions, the cooling Chinese economy, foreign currency volatility and tightening global market liquidity, the report said.


Net outflows from the CSE consequently amounted to Rs.104Mn, and although an overall negative position, the outflows were lower than that of the net outflows of Rs. 221Mn the previous week and Rs.900Mn the week prior.


June quarter corporate earnings releases (which have just begun) are likely to influence market direction in the week ahead, Acuity expected.
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Re: Market Review

Postby PAT » Tue Jul 24, 2018 10:53 pm

Sri Lanka rupee steady, stocks close flat

ECONOMYNEXT - The Sri Lanka rupee held steady against the US dollar on Tuesday, as gilt yields eased and stocks closed marginally lower on foreign buying interest in John Keells Holdings, brokers and dealers said.

The rupee closed at 159.55/60 rupees against the US dollar in the spot market on export conversions, dealers said. The US dollar closed at 159.50/60 rupees the previous day.

Gilt yields eased in the secondary market for government securities.

A five-year bond maturing in 2023 closed at 10.18/24 percent in two-way quotes, down from 10.21/29 percent the previous day.

The yield on a ten-year bond maturing in 2028 eased to 10.46/53 percent, down from 10.50/62 percent the previous day.

In equities, the Colombo All Share index closed a marginal 0.02 percent lower, down 1.04 points to 6,183.64, and the S&P SL20 of more liquid stocks closed 0.16 percent lower, down 5.43 points to 3,392.23.

Market turnover was 273.8 million rupees, up from the previous day's turnover of 238.4 million rupees.

Net foreign buying was 90.3 million rupees, compared to buying of 98 million rupees the previous day.

Foreign buying was 60 million rupees in John Keells Holdings (down 1 rupee to 146 rupees) followed by 27 million rupees in Central Finance (unchanged at 99.50 rupees).

Foreign selling in Distilleries was 23 million rupees. The stock closed 10 cents lower at 20 50 rupees.

John Keells Holdings, LOLC Finance (down 20 cents to 3.20 rupees) and Sri Lanka Telecom (down 40 cents to 24.50 rupees) weighed down the benchmark index with 50 stocks gaining during the day against 82 that declined.

Ceylon Tobacco gained 26.90 rupees to 1,159.50 rupees.

Crossings, or off-market negotiated trades, amounted to 72.24 million rupees, and was 26.4 percent of market turnover.

There was a crossing each in John Keells Holdings (26.3 million rupees), Central Finance (25.9 million rupees) and Distilleries (20 million rupees). (COLOMBO, 24 July 2018)
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Re: Market Review

Postby PAT » Sun Jul 29, 2018 9:26 am

Shares slide again after two positive weeks
Foreign outflows continue

Equity markets reversed two-consecutive weeks of positive momentum as the ASPI slipped ~37 points while average weekly market turnover declined 36% week-on-week to hit a 14-week low, Acuity Stockbrokers said in their Share Market Weekly.


"Index losses stemmed largely from greater selling pressure, but improved foreign buying helped avert steeper losses on the Index," the report noted. "The foreign equity sell-off that has persisted for six consecutive weeks eased last week, helping stem losses on the benchmark ASPI."


Net foreign inflows to the CSE totaled Rs. 23Mn last week, relative to the net outflows of Rs. 105Mn the previous week and Rs. 221Mn the week earlier, Acuity said noting that despite last week’s net foreign buying, foreigners have consistently sold off domestic risky assets over the month of July, resulting in a net foreign outflow of Rs. 1.2Bn for the month.


Inflows to domestic equity markets have been volatile this year, tracking the broader global theme of waning risk appetite for Emerging and Frontier Market assets since Feb’18 as global financial market volatility has heightened amid worsening US-China trade tensions, the cooling Chinese economy, foreign currency volatility and tightening global market liquidity.


"The year-to-date net foreign outflows from the Colombo bourse has consequently amounted to Rs.2.8Bn, a stark contrast to last year when net foreign inflows for the comparable period totaled Rs. 25 Bn.," the report said.


"Equity market performance over July meanwhile, continued to remain sluggish for the third consecutive month, losing 0.7% over July to add to the loss of 4.4% recorded in the second quarter this year."


The losses over the second quarter this year and the month of July are in contrast to the gain of 1.7% recorded over the first quarter of the current year and the 6.6% gain recorded in the comparable Jan-July period in 2017, the report which noted that the ASPI has lost 3.4% between Jan-July 2018 said.


Markets in the week ahead are likely to look for cues both from global market developments and results from the June quarter corporate earnings releases, Acuity projected.
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Re: Market Review

Postby PAT » Tue Jul 31, 2018 11:13 pm

Sri Lanka stocks end up 0.3-pct on gains in Nestle Lanka, CTC

ECONOMYNEXT – Sri Lanka’s benchmark stock index closed up Tuesday, after five days of losses, supported by price gains in the local unit of the Nestle food multinational, in which there was foreign buying, and a tobacco monopoly.

The All Share Price Index closed at 6,147.27, up 18.32 points (0.3%) while the more liquid SP SL20 index fell 4.73 points (0.1%) to close at 3,333.42 down. Turnover was a low Rs410 million.

Brokers Asia Securities said estimated net foreign buying topped in Nestle Lanka, which closed at Rs1,801, up 2.9% or Rs50.90.

Ceylon Tobacco Company gained Rs15.50 or 1.3% to close at Rs1,175.50.

Crossings or off-the-floor block deals accounted for 31% of the turnover with two crossings recorded in RIL Property, which closed unchanged at Rs7.40.

There was one crossing in John Keells Holdings which closed at Rs139.70, down 20 cents or 0.1%.

Bartleet Religare Securities said foreign interest in Nestle Lanka moved the stock in to the top five list with the highest inflow of Rs40.5 million.

Foreigners were net sellers for the day with foreign selling accounting for 33% of the day’s turnover while the highest outflows were seen in Commercial Bank, JKH, Hemas Holdings and Distilleries.

(COLOMBO, 31 July, 2018)
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Re: Market Review

Postby PAT » Sat Aug 11, 2018 7:14 pm

Sri Lankan shares edge down; foreign investors buy John Keells

Reuters - Sri Lankan shares ended marginally lower on Friday, pulling away from their highest close in more than two weeks, while foreign buying in market heavyweight John Keells Holdings boosted turnover.

The Colombo stock index fell 0.23 percent to 6,141.55 points from its highest close since July 25 hit in the previous session. The index has declined about 3.6 percent so far this year.

Turnover was 432 million rupees ($2.7 million)on Friday, less than half of this year’s daily average of 844.4 million rupees.

“There was foreign buying in Keells. But there was no market moving news and global concerns also had an impact on the sentiment,” said Prashan Fernando, CEO at Acuity Stockbrokers.

A plummeting Turkish lira sent ripples through global equities and emerging markets on Friday, as rising fears of a wider fallout sent investors scurrying for the safety of assets such as the yen and U.S. government bonds.

Foreign investors bought shares worth a net 101.5 million rupees, after having sold a net 2.78 billion rupees worth of equities so far this year.

Shares in Sri Lanka Telecom fell 2.5 percent, while Chevron Lubricants Lanka Plc slid 2.2 percent. However, shares of John Keells, which accounted for nearly a third of the day’s turnover, rose 0.4 percent.

The central bank left its key policy rates unchanged as expected on Friday, citing its goals of stabilising inflation and fostering sustainable economic growth.

Central bank Governor Indrajit Coomaraswamy said the economy was unlikely to grow more than 4 percent in 2018, falling short of an earlier estimate of 5 percent.
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Re: Market Review

Postby solace » Sat Aug 11, 2018 8:27 pm

JKH almost single handedly take up the CSE last three days.
Some support from CTC.


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