Tag Archive | "CSE"

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Slump on CSE continues for ninth day running – Small scrip dividend from Commercial Bank

Posted on 25 February 2014 by admin

February 25, 2014, 12:00 pm

The slump on the Colombo bourse continued for the ninth day running yesterday on a low turnover of Rs. 426.9 million, down from the previous day’s Rs. 499.4 million, with 122 losers way ahead of 63 gainers while 122 counters closed flat.

The one bright spot in an otherwise gloomy scenario was the announcement of a very modest scrip dividend by the Commercial Bank which, in addition to a final cash dividend of Rs. 2 per share will give shareholders one new voting share for every 63.611111 shares held and one non-voting share for every 52.611111 shares held.

“It’s a very small bonus,’’ noted a broker. “It won’t mean much to the big shareholders while a retailer with a few hundred shares will hardly get anything. Yet we’ve seen a scrip dividend after quite some time.’’

The dates for these dividends were unannounced and are to be notified.

SLT also announced a first and final dividend of 85 cents a share following shareholder approval at an AGM on Apr. 9 with the share trading XD from Apr. 10 and with payment on Apr. 23 while Dockyard announced a first and final dividend of Rs. 4 per share for 2013 XD on Mar. 6 and with payment on Mar. 17.

The CSE is now at its lowest level since Dec. 27 last year and all gains made this year have been wiped out as the foreign sell-off continued, brokers said.

There was a single crossing of JKH, the counter which carried the market on its upward run, with 158,160 shares done at Rs. 209 contributing Rs. 33.1 million to the day’s turnover. JKH was also the most traded stock on the floor, with nearly 0.3 million shares done between Rs. 206 and Rs. 209, closing two rupees down at Rs. 207 contributing Rs. 60 million to turnover.

“The various projections made on the technical charts about at what point the fall in the JKH price would be arrested has gone wrong,’’ a broker said. “We’re yet to come to that point with various prices for available big blocks being talked off.’’

The big sellers are mainly foreign with high net worth locals and institutional interest on getting what is available at the best possible price, brokers said.

JKH warrants W0023 closed 10 cents down at Rs. 61 on nearly 0.4 million while DFCC closed 80 cents down at Rs. 141.20 on over 0.1 million shares.

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CSE: Shares close down 0.5 percent

Posted on 19 February 2014 by admin

Feb 19, 2014 (LBO) – Sri Lanka stocks close down 0.59 percent retreating for the fifth consecutive day with losses in the index heavy tobacco and diversified stocks, brokers said. The Colombo benchmark All Share Price Index closed 35.42 points lower at 5,986.24, down 0.59 percent. The S&P SL20 closed 6.27 points lower at 3,281.77, down 0.19 percent.

Turnover was 714.64 million rupees, up from 604.12 million rupees a day earlier, with stocks of 124 firms closing in the red against 58 gainers. JKH topped the turnover contribution with 271.56 million rupees of market transactions contributing to 38 percent of the daily turnover. PC House closed 20 cents lower at 30 cents, attracting most number of trades during the day.

Foreigners bought 302.35 million rupees worth shares while selling 104.54 million rupees of shares. JKH closed 3.40 rupees lower at 215.00 rupees and Ceylon Tobacco Company closed 10.90 rupees lower at 1,198.80 rupees, contributing most to the index drop. JKH’s W0022 warrants closed 1.00 rupee lower at 59.00 rupees and its W0023 warrants closed 70 cents lower at 60.00 rupees. SLT closed 1.10 rupees lower at 41.70 rupees and Dialog closed 10 cents lower at 9.10 rupees.

Commercial Leasing and Finance closed 30 cents lower at 3.90 rupees and Bukit Darah ended 1.80 rupees lower at 590.50 rupees. Commercial Bank closed 1.50 rupees higher at 118.00 rupees and Sampath Bank closed 5.00 rupees higher at 170.00 rupees. Nestle Lanka ended 19.60 rupees higher at 2,119.60 rupees and Cargills Ceylon closed 4.00 rupees higher at 139.00 rupees. Ceylinco Insurance closed 28.50 rupees higher at 1,374.50 rupees and Aitken Spence closed 1.00 rupee lower at 100.00 rupees. Distilleries closed 60 cents lower at 207.40 rupees and Carson Cumberbatch ended flat at 350.00 rupees

Courtesy: LBO Sri Lanka

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LBO reports Sri Lanka stocks up 0.8-pct

Posted on 16 January 2014 by admin

16 Jan, 2014 16:15:17

Jan 16, 2014 (LBO) – Sri Lanka stocks end on a strong note Thursday recording a gradual increase in the intra day trading amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 50.59 points higher at 6,166.98, up 0.83 percent. The S&P SL20 closed 38.98 points higher at 3,427.05, up 1.15 percent. Turnover was 1.86 billion rupees, up from 1.37 billion rupees last Monday, with stocks of 62 firms closing in the red against 139 gainers. HNB closed 2.90 rupees higher at 157.00 rupees with six off market transactions of 504.21 million rupees contributing to 27 percent of the total turnover today. The Finance Company closed 1.00 rupee higher at 14.70 rupees, attracting most number of trades during the day.

Foreigners bought 917 million rupees worth shares while selling 364 million rupees of shares.

JKH closed 9.20 rupees higher at 240.20 rupees and Aitken Spence closed 4.30 rupees higher at 106.50 rupees, contributing most to the index gain. JKH’s W0022 warrants closed 1.20 rupees higher at 85.10 rupees and its W0023 warrants closed 10 cents higher at 90.10 rupees. Nestle Lanka ended 25.00 rupees higher at 2,140.10 rupees and Carson Cumberbatch ended 2.70 rupees higher at 354.20 rupees. Ceylon Tobacco Company closed 6.00 rupees lower at 1,220.30 rupees and Cargills Ceylon closed 1.50 rupees lower at 146.50 rupees. Distilleries ended 1.50 rupees higher at 203.00 rupees and Bukit Darah closed 2.10 rupees higher at 620.00 rupees. Commercial Leasing and Finance ended 20 cents lower at 3.90 rupees and Lanka Orix Leasing Company closed 40 cents lower at 72.00 rupees. DFCC gained 1.30 rupees to 151.40 rupees and NDB closed 1.10 rupees higher at 185.90 rupees. Commercial Bank dropped 10 cents to 126.60 rupees and People’s Leasing and Finance closed 50 cents higher at 14.50 rupees.

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CSE: Bourse down 0.14 percent, turnover exceeded Rs. 1 Bn.

Posted on 20 August 2013 by admin

The All Share Price Index lost 8.87 points to close 0.14 percent lower at 6,224.34 and the S&P SL20 closed 0.08 percent up, gaining 2.63 points to 3,494.18. urnover recovered from Rs. 594.53 million the previous day (16) to Rs. 1,130.53 million.

Foreign purchases amounted to Rs. 956.06 million leading to a net inflow of Rs. 849.31 million.

"The ASPI ended marginally lower, having dipped during the latter hours of trading. Turnover exceeded the Rs. 1bn mark mainly on the back of a large block trade on HNB.X which accounted for over 70% of the day’s turnover," John Keells Stockbrokers said.

The best performing sector for the day according to JKSB was Stores and Supplies gaining 9.09 percent, while the worst was Trading which recorded a decline of 2.17 percent.

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CSE: Bourse down 0.53 percent

Posted on 01 April 2013 by admin

The Colombo bourse opened the week yesterday on a quite note with both indices closing in the red with turnover falling to Rs. 403.2 million. The All Share Price Index fell 0.53 percent, down 30.48 points to 5,705.20 while the S&P SL20 closed 0.36 percent, down 11.94 points to 3,281.63 with little more than 15.3 million shares changing hands during the day. Foreign purchases amounted to Rs. 79.9 million, resulting in a net inflow of Rs. 60 million.

Sampath Bank featured in an off market transaction involving 500,000 shares at Rs. 224 each.

PC House PLC announced a one for two rights issue offering 114,446,667 shares at Rs. 3 each while Chilaw Finance announced a one for seven rights issue offering 4,237,667 shares at Rs. 10 each.

"Losers outpaced gainers with Ceylon Leather(W0013), Ceylon Leather(W0014) and Lake House Printers declining by 27.3%, 12.5% and 10.4% and offsetting advances in On’ally Holdings, Ceylon Hospitals and Hunters & Co. which rose by 21.9%, 11.3% and 8.0% respectively," DNH Financial said.

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CSE: Low activity levels sends bourse down 0.40%

Posted on 26 March 2013 by admin

 

The Colombo bourse fell 0.40 percent on Monday (25) with both indices closing in the red amidst lower activity levels at the start of the three-day week.

The All Share Price Index fell 23.33 points, down 0.40 percent, to close at 5,745.55 while the S&P SL20 closed 0.51 percent lower, down 16.75 points to 3,295.96.

Turnover amounted to Rs. 353.41 million.

Foreign purchases amounted to Rs. 105 million, leading to a net inflow of Rs. 101.60 million.

"The ASPI dipped amid lower activity levels with trades on hotel and banking counters, inclusive of crossings on SAMP and COMB dominating the day’s turnover," John Keells Stockbrokers said.

Bourse down on large caps, said Softlogic Equity Research: "The benchmark index reversed following gains on 8 consecutive days to close 23 points down. Heavy volatility was noted in the index during the early part of the day while the index settled on a downward path towards the latter part with Ceylon Tobacco (-2.8%), John Keells Holdings (-0.6%), Commercial Leasing (-4.0%) and Carsons (-1.1%) weighing negatively on the index.

"Turnover was the second lowest in 4 weeks, but still dominated by banks. Amidst some profit taking turnover recorded to be the lowest since 18.03.2013. Sampath Bank topped the turnover with a single crossing of 315k shares which was dealt at LKR232.0. Low on-board interest was noted in the counter as it closed the day at LKR231.0 (-0.4%). Commercial Bank too recorded a crossing of 200k shares at LKR112.0 while it closed with a dip of 0.8% at LKR113.0. Further interest in banks was noted in Hatton National Bank [Voting], [Non-Voting] and National Development Bank of which the latter registered a new 52-week high price LKR165.0 following the dividend announcement," Softlogic Equity Research said.

DNH Financial’s comments on the market: "Turnover declined to LKR353 mn with trading in Sampath Bank and Asian Hotels accounting for 36% of the day’s total. Losers outpaced winners with Asia Siyaka, Muller & Phipps, J.L. Morrison(X) falling by 6.7%, 6.7% and 6.5% and offsetting advances in Miramar Beach, Ceylon Beverage and Serendib Land which rose by 22.5%, 18.7% and 18.6% respectively. Meanwhile, global markets rose today after officials agreed on a bailout deal for Cyprus following a week of uncertainty."


 

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Sri Lanka stocks edge up on Keells, foreign buying

Posted on 14 March 2013 by admin

(Reuters) – Sri Lankan shares edged up on Thursday on foreign buying in market heavyweight John Keells Holdings which hit a 29-month high.

The main share index ended 0.06 percent, or 3.16 points up, at 5,688.98.

John Keells Holdings gained 0.63 percent to reach 238.60 rupees.

 
 

Foreign investors were net buyers of 261.2 million rupees ($2.07 million) worth of shares, extending year-to-date foreign inflows to 3.43 billion rupees.

Turnover was 609.2 million rupees ($4.82 million), well below this year's daily average of 1.04 billion rupees.

The rupee ended firmer at 126.25/35 to the dollar from Wednesday's close of 126.50/55 due to exporter dollar conversions, dealers said. ($1 = 126.4500 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sanjeev Miglani)

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CSE: Bourse opens week in the red, rupee down

Posted on 04 March 2013 by admin

 

Cargills announces deal to produce, sell Fosters Larger

 

The Colombo bourse fell on Monday (04) with both indices closing in the red after banking sector stocks dominated the day’s trading session while the rupee weakened against the greenback in financial markets with secondary market for government bonds drying up.

The All Share Price Index fell 0.37 percent, down 20.80 points to close at 5,631.89 while the S&P SL20 closed 0.1 percent lower, down 3.07 points at 3,203.78.

Turnover reached Rs. 1.07 billion on a volume of 19.4 million shares changing hands during the day.

Foreign purchases, amounting to Rs. 876.4 million, outweighed selling leading to a net inflow of Rs. 858.31 million.

Com Bank featured in several crossings while Sampath Bank featured in a single off market deal.

"The ASPI ended lower, with activity levels dominated by trades on banking counters. Turnover crossed the Rs. 1bn mark mainly on the back of block trades on COMB and SAMP, which collectively accounted for over 65% of turnover," John Keells Stockbrokers said.

Over five million Com Bank shares changed hands during the day with the counter closing 0.83 percent higher at Rs. 109.9. Sampath Bank closed 0.34 percent higher at Rs. 235.90 on a little more than 1.32 million shares traded.

ASHA was the biggest gainer, up 22.56 percent to close at Rs. 264. COCO closed 16.18 percent higher at Rs. 15.80.

GREG.W3 closed 22.22 percent lower at Rs. 1.40 to be the biggest loser followed by a 21.05 percent drop in CLPL.W14 which closed at Rs. 3.

The Cargills group yesterday said it had struck a deal with Australia’s Carlton United Breweries, to license produce Fosters Lager in the island.

In a stock exchange filing the company said a deal signed on February 25 would allow its wholly owned unit Millers Brewery Ltd to produce and sell Fosters within Sri Lanka.

Cargills bought the then McCallum Breweries (Ceylon) for 1.4 billion rupees in 2011, which makes three coins branded beer in Sri Lanka.

In financial markets the rupee weakened against the US dollar on Monday (04). The rupee closed at Rs. 127.49/53 against the greenback from an opening position of Rs. 127.38/45.

Secondary Treasury bond market yields stayed flat with activity drying up, dealers said.

Excess rupee liquidity in the financial markets amounted to Rs. 40.65 billion yesterday.

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