Lanka Securities Market Round up 10August 2015

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Lanka Securities Market Round up 10August 2015

Post  Melissa Pereira on Tue Aug 11, 2015 10:21 am

Colombo shares closed flat on Monday, hovering around its highest in more than six months as some investors booked gains while others were looking forward for the quarter earnings reports.

Shares opened slightly weak in the morning session but crept into the positive territory in the latter half to close at 7,377.94 with a modest gain of 7.34 index points or 0.1%. The S&P SL 20 index closed 7.14 points or 0.2% higher at 4,104.36.

Investors offloaded shares in index-heavy Nestle Lanka (LKR 1,980.00,-2%), John Keells Holdings (LKR 190.90,-0.8%) and Dipped Products (LKR 148.50,-7%) which affected negatively to the index. Dipped products saw its profit decline by 43% during the quarter ended June 2015.

On the other hand, investor interest were seen in Dialog Axiata (LKR 11.40,+1.8%)
subsequent to its favorable earnings report which showed a 15% growth in quarter earnings. Further, Distilleries (LKR 300.00,+1.9%), Lanka Orix Leasing (LKR 110.00,+1.9%) attracted interest ahead of quarterly earnings reports.

Market breadth was quite positive with winners outweighing losers, 119 to 87 while 49 counters remained unchanged. Cash map improved from 51% to 53%. 12 counters touched 52 week highs during the session while shares of Marawila Resorts, Blue Diamond – nonvoting and SMB Leasing – nonvoting touched 52 week low prices.

Daily turnover reached LKR 1.3bn led by Sampath Bank (LKR 202mn), John Keells Holdings (LKR 149mn), Peoples Leasing (LKR 102mn) and Hayleys (LKR 68mn). 10 crossings were seen in today’s session in counters such as John Keells Holdings (0.7mn shares at LKR 190.00), Sampath Bank (0.4mn shares at LKR 265.00), Bansei Royal Resort (5.37mn shares at LKR 10.80), Hayleys (0.2mn shares at LKR 350.00), Peoples Leasing (2.1mn shares at LKR 25.00), Dialog Axiata (3.6mn shares at LKR 11.20) and Bukit Darah (0.03mn shares at LKR 650.00). Crossings represented 36% of the total turnover.

Meanwhile, Sanasa Development Bank reported 36% growth in June quarter earnings while Regins Lanka posted 238% growth and the two counters were among the most traded stocks in the session. Both counters touched 52 week high prices and closed at LKR 165.00, +2% and LKR 186.90, +22% respectively. Further, shares of Lanka Hospitals, Laxapana Batteries & Peoples Leasing were traded heavily today. As per the earnings report, Peoples Leasing’s earnings grew by 42% in June quarter.
Please refer the link for more details- http://www.lsl.lk/pdf/research/marketroundup.pdf

Melissa Pereira

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