Lanka Securities Market Round up 29 September 2015

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Lanka Securities Market Round up 29 September 2015

Post  Melissa Pereira on Wed Sep 30, 2015 12:07 pm

Colombo equities swung between gains and losses on Tuesday and ended the session on a mixed note. Main index managed to touch 7,099 mark but failed to retain the momentum and closed at 7,085.38, up by 6.74 index points or 0.10%. S&P SL20 index shed 10.94 index points or 0.28% to end at 3,858.61.

Price gains in blue-chips such as Nestle Lanka (closed at LKR 2,100.00, +4.0%), Sri Lanka Telecom (closed at LKR 48.90, +2.1%) contributed positively to the All share index performance while declines in Ceylon Tobacco (closed at LKR 960.00, -0.6%), John Keells Holdings (LKR 172.50, -0.3%) and Chevron Lubricants (closed at LKR 376.00, -0.9%) dragged S&P SL index performance to red zone.

Daily market turnover was LKR 816mn. Textured Jersey emerged as the top contributor tothe turnover with LKR 169mn underpinned by a single crossing of 4.5mn shares at LKR 31.50. John Keells Holdings (LKR 167mn), Hatton National Bank (LKR 84mn) and Commercial Bank non-voting (LKR 52mn) were next best contributors to the turnover.

Several crossings were recorded in Textured Jersey (4.5mn shares at LKR 31.50), Hatton National Bank (0.3mn shares at LKR 217.00) and Commercial Bank non-voting (0.3mn shares at LKR 132.70). Aggregate value of crossings represented 42% of the total turnover.

Reflecting negative investor sentiments, 127 counters slipped, 69 advanced and 55 remained unchanged. Cash map further declined from 43% to 38%. 19 counters touched 52wk low prices while Autodrome (LKR 1,024.60), Ceylon Hospitals (LKR 120.00) and Taprobane Holdings (LKR 5.50) reached 52wk high price levels.

Subsequent to the repurchase of shares in Union Assurance, counter declined to LKR 177.00 (-1.7%). Meanwhile most of the banks namely, Nation Development Bank, Commercial Bank, Sampath Bank and DFCC Bank, Sanasa Development Bank, HDFC Bank and Nations Trust Bank closed with negative returns. Further Union Bank touched fresh 52wk low price of LKR 21.40 but closed flat at LKR 21.50.

Nawaloka Hospital counter declined by 5.4% to LKR 3.50, during the session following the clarification made by the company regarding a false newspaper article appeared in weekend papers.

Foreign investors were net buyers with a net foreign inflow of LKR 40mn. Foreign
participation was 52%. Net foreign inflows were seen in Hatton National Bank (LKR 76mn), Ceylon Cold Stores (LKR 12mn), Distilleries (LKR 12mn) while net foreign outflow was mainly seen in Access Engineering (LKR 24mn).

According to the external sector performance report for July 2015, exports during the month declined by 2.6% to USD 932mn while imports declined by 16.9% to USD 1.5bn backed by 66% decrease in fuel imports. Accordingly, the trade balance narrowed by 32.3% to USD 602mn during the first 7 months of 2015. Meanwhile during the seven months of 2015, earnings from tourism increased from USD 1.4bn to USD 1.6bn (16.8%YoY).
Please refer the link for more details- http://www.lsl.lk/pdf/research/marketroundup.pdf

Melissa Pereira

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