Daily Trade Journal - 21.05.2013 (1)

7/30/2019 Daily Trade Journal - 21.05.2013 (1)

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q

p

Today's Turnover (LKR mn)

Annual Average Daily Turnover (LKR mn)

Volume (mn)

Annual Average Daily Volume (mn)

Market Capitalization (LKR bn)

Net Foreign Inflow / (Outflow) [LKR mn]

- Foreign Buying (LKR mn)

- Foreign Selling (LKR mn)

YTD Net Foreign Inflow / (Outflow) [LKR bn]

YTD Performance

S&P SL 20 Index

40.6

1,088.9

12.4

1,522.1

433.1

Tuesday, May 21, 2013

889.8

% ChangePoint ChangeToday

39.5

2,194.6

-0.39 %

0.32 %

2,473.6

ASPI

S&P SL 20 Index

- 25.03

+ 11.59

6,441.64

3,660.94

ASPI 14.2%

18.7%

Level 23, East Tower, World Trade Centre,

Colombo 01

Tel: +94 11 727 7000,

Fax: +94 11 727 7099

Email: [email protected]

CSE Diary for 21.05.2013 Indices journeyed on a consolidation path: The

bourse moved on a consolidation path today as the

benchmark index took a steep downturn after a 19

point gain at its peak during mid-day to an intra-day

low of 6,423.04 points (-43 points). However it closed

with a lesser dip of 25 points with losses denoted in

Nestle Lanka, NDB Capital Holdings and Sri Lanka

Telecom outweighing gains in Ceylon Tobacco

Company, Commercial Bank and Dialog Axiata. In

contrast the S&P SL20 index which saw a number of

shares trading at their 52-week high levels secured a

gain of 11 points extending its YTD gain to 18.7%. S&P SL20 players highlighted the crossings board: The

crossings board saw 15 crossings encompassing S&P

SL20 caliber counters which took up 48% of turnover.

Commercial Bank continued its rally gaining 2.6% as it

registered 8 crossings carrying c.4.2 mn shares at

LKR125.0 while on-board activity in the counter remained strong amidst its price renewing its 52-week

high at LKR126.0. S&P players: John Keells Holdings,

Distilleries, Cargills, Chevron Lubricants and Sampath

Bank also recorded off-board blocks.

YTD NFI touched the LKR12.4 bn mark; JKH and Banks

dominated bourse: Foreign interest remained

uninterrupted with the day recording a net foreign

inflow of LKR1.1 bn carrying the YTD net foreign inflow

to the LKR12.4 bn mark. Investor hunt on John Keells

Holdings continued with the counter renewing its all-

time high at LKR299.8 today. Selling pressure that

emerged led the counter to close with a marginal dip

at LKR297.0. BFI sector play persisted with greater

focus on Commercial Bank Voting & Non-Voting and

Nations Trust Bank which traded at 52-week high

levels of LKR126.0, LKR102.0 and LKR68.9 respectively.

Retail interest picked up: Retail activity picked up

with the recent bullish sentiment prevailing in the

bourse. Majority of focus surrounded Amana Takaful,

Overseas Realty, Central Investment and Finance and

Colombo Fort Land and Building.

YTD Net Foreign Inflow at

LKR12.4 bn; S&P SL20 index

at a YTD gain of 18.7%…



Statistical Look Up

Treasury Bill (%) 23.05.2013

8.75

9.90

10.86

13.12

Inflation (%) Apr-13 6.4

8.8

All Share Price Index q

S&P SL20 Index p

Turnover (LKR mn)

Turnover (USD mn)Volume (mn shares)

Traded Entities

Market Capitalization (LKR bn)

Foreign Purchases (LKR mn)

Foreign Sales (LKR mn)

Net Foreign Inflow (LKR mn)

Market PER (X)

Market PBV (X)

Market Dividend Yield

SECTOR INDICES

Banks, Finance & Insurance q

Beverage, Food & Tobacco q

Construction & Engineering q

Diversified q

Healthcare q

Hotels & Travels q

Land & Property q

Manufacturing p

Plantation q

Telecom q

4.68%

2.3

29.6

154.3

14,300.5

% Change

-0.39%2.4

277.64%

17.6

2.93%

4.97%

1.23%

5.60%

% WoW

ChangeLast Week

4.23%

727.49%

1362.60%

605.62%

183.9

2,483.2

44.0

244.96%

244.96%

% WoW

ChangeLast Week

636.2

5.0

1.79%

7.05%

-0.39%

Today

1,088.9

2.4

433.1

17.5

6,441.6

0.32%

2,473.6

2.1

1,522.1

71.09%

71.09%-10.41%

-5.12%

17.439.5

241

3,660.9

1,282.7

10.2

254

2,194.6

-0.39%

333.77%

592.59%

Week ending

0.32%

64.70%

-2.43%

3.98%

4.58%

3.79%

247

2,378.9

6,206.6

3,500.5

24.0

4.05%

-4.55%

350.9

62.5

288.4

Change %

6,466.7

3,649.4

2.2

-0.39% 16.8

Pre Day

13,967.4

18,589.2

2,178.8

3,627.7

635.2

-0.48%

2,907.8

2,069.8

-0.58%

-0.20%

-2.90%

-0.29%

3,004.5

17,330.1

597.1

178.7 172.5-0.62%177.6

2.1

3,142.6

18,552.0

2,917.2

2,172.6

14,217.4

Pre Day

0.00%

3 months

6 months

12 months

YoY Change

Annual Avg

AWPLR

Excess Liquidity (LKR 'bn) as at 21.05.2013

Today

-3.21

715.2 715.6 -0.06% 715.8 -0.09%

831.1 843.6 -1.48% 820.3 1.32%

3,002.0

3,566.6

-0.73%

3,610.3

630.6

0.00%3,142.5

5400

5600

5800

6000

6200

6400

6600

I n d e x

ASPI

3100

3200

3300

3400

3500

3600

3700

I n d e x

S&P SL20

0.0

50.0

100.0

150.0

0

1,000

2,000

3,000

4,000

5,000

V o l u m e ( ' m n )

T u r n o v e r L K R ( ' m n )

Turnover Volume

Softlogic Equity Research Page | 2.



High Index Calibre ≥ USD350 Mn

Price Gainers Price Losers

Top 05 Performers for the Day

COMMERCIAL BANK

JKH

DISTILLERIES

CARGILLS

CHEVRON

Most Active

Close

297.00

899.20

295.10

899.80

173.00

135.50

715.00

9.90

Volume (mn)

28.5%

Turnover

(LKR)

6.8%

705,744,092

104,364,050

70,704,461

443,295,081

168,678,321

1.43

1.49

0.25

1.1% 26,940,563

705,744,092

17.9%

190.10

175.00

288.30

JKH 297.00

AMANA TAKAFUL 1.60

% Change

OVERSEAS REALTY

CIFL 2.30

1.49

5.65

2.09

2.30

0.00%297.00

0.89

0.600.00%

1.39

0.00%

0.00%

0.00%

4.2%

2.9%

0.1%

Contribution to

Total T/O

3,269,761

0.00%

18.80

3,514,760

443,295,081

8.72

CITRUS HIKKADUWA

CIT

Pre Day

0.00%125.30 28.5%5.65

Volume (mn)% Change

5.93%

+ 17.00 7.31%

125.30

CompanyContribution to

Total T/O

149.20

17.9%

0.1%

Turnover

(LKR)

175.00

7.06

826.72

122.50

63.00

175.00

43.10

57,819.60

74.80

223.90

172.50

43.30

715.00

71.10

195.90

29.50

TodayCompany

175.00

GESTETNER

143.30

458.02

3.19402.95

139.75

5,944.18

891.31

28.46

Today

5.77%

Turnover

USD ('000)

2,007.107.92%

Intraday

Low (LKR)

Turnover

LKR ('000)

705,744.09

3,593.25

5,590.58

47.09

886.00

443,295.08

Intraday

High (LKR)

299.80

13.20

148.00

223.30

134.10

187.00

44.60

9.70

% Change

JOHN KEELLS HOLDINGS 1,488,357

SAMPATH BANK

ASIAN HOTELS & PROPERTIES 5,560

1.6%

294424

18,154

10.3%

6.8%CEYLON TOBACCO

CARSON CUMBERBATCHNESTLE LANKA

SRI LANKA TELECOM

COMMERCIAL BANK [V]

3.6%

2.9%BUKIT DARAH

DIALOG AXIATA

HNB [V]

DFCC BANK

CARGILLS

23.19

2,000.00

126.00

1,666.44

6.37

LOLC

AITKEN SPENCE 136.00

2.3% 1,336.19

804.11

175.40

132.27853.07

1.056.76

445.10

720.00

9.90

2,010.00

125.30

450.002,095.10

17,641.27

168,678.32

4.0%

2.2%

1.2%

8,271

90,433

101,330

12,350

4.4%

192.50

64.80

3.3%

190.10

63.00

449.60

3.2%

297.00

0.00%

1.5%

2.2%

Change

- 221.20

- 15.30

- 15.80

- 2.30

% Change

226.00

175.00

288.30

190.10

MET. RES. HOL.

+ 1.40

HARISCHANDRA

72.40

148.10

Volume

3,511.58

0.00%

0.00%

5,648,995

1,100.30

104,364.05

3,275 2,926.96

1.3%

Change

109.00

Company% of

Mkt Cap

18.80

Today Pre Day

125.30

1.60

297.00

+ 8.00

DISTILLERIES

7,392

257,023

COMMERCIAL BANK 125.30

Company

886,996

56,239

596,366

CONVENIENCE FOOD

CARGO BOAT

Company Today

1.6%

BERUWELA WALKINN

LANKA CEMENT 10.40 + 1.10 11.83% N D B CAPITAL 412.90 - 68.40 -14.21%

-7.23%

-7.46%

-9.93%

-9.65%

78.80

25.00

249.70

+ 4.30




Currency Board Announcements

Local - Indicative Rate against LKR Dividends

Dollar Hayleys PLC

Yuan The Lanka Hospital Corporatio

Euro Kotagala Plantations PLC

Rupee 0

Yen 0

Ringgit 0

Rouble 0

Riyal 0

Dollar Rights Issues / Scrip Dividend / Sub division / Capitalization

Franc Company

Baht No Announcements

Pound 0

Dollar 0Source: www.cbsl.gov.lk

Global Markets

q

q

q

p

p

q

* Time is as at ET Source: www.bloomberg.com

Commodit Markets

Crude Oil (Brent) p

Crude Oil (WTI) p

ICE Cotton #2 q

CBOT Wheat q

COMEX Gold p

COMEX Silver p

COMEX Copper q

* Time is as at ET Source: www.bloomberg.com

00-Jan-00

08-07-2013

10-06-2013

1/0/1900

00-Jan-00

Description

0.00

0.00

0 1/0/1900

27-06-2013

XR Date

00-Jan-00

00-Jan-00

00-Jan-0000-Jan-00

Renunciation

00-Jan-00

2.50

Time*

USd/bu.

85.21

Price

103.80

96.77

USD/bbl.

100.58

AGRICULTURE

Hong Kong Hang Seng Index

Nikkei 225

ASIA

FTSE 100 Index

EU

192.41

4.50

0.50 30-05-2013

01-07-2013

126.24

0.0033.66

Malaysia

4.04

123.61

20.58

2.29

1.23

41.90

India

Currency

162.63

Indicative Rate

21.05.2013

China

0

Payment DateDPS (LKR) XD Date

6,768.1

Singapore

Switzerland

Thailand

UK

0.12

-126.7

0

2,811.1

130.40

1/0/1900

1/0/1900

4.25

USA

02:28

12.5

1/0/1900

Change

-0.47%

20.2

04:01

0

00-Jan-00

05-07-2013

1/0/1900

03:56

03:55

0.18%

03:56

Company

03:56

03:53

03:41

20-May

20-May

06:43

06:43

Time*

15:02

-0.07%

Change %

-1.06%

0.12%

0.12%

0.06%

0.13%

-0.54%

0.20%

-1.2

Change

-0.66%-0.57

0

0.06

Change %

335.75

USD/t oz.

USD/t oz. 0.03

678.00

-0.25

22.61

Index

Dow Jones Industrial Average

S&P 500 Index

EUROPE

EURO STOXX 50 Price EUR

15,381.0

Value

15,335.3

1,666.3

USD/bbl.

USd/lb.

USd/lb.

AMERICA

-7.25

METALS

ENERGY

Commodity

23,366.4

Units

0

-13.4

Proportion

00-Jan-00

00-Jan-00

0.00

0.00

-0.12%

-0.07%

-19.1

Russia

Saudi Arabia

Japan

1,386.80 2.70

Australia




Softlogic Equity Research Page | 5

CSE Announcements

Debenture Issues: Both Debenture issues of Singer Sri Lanka [SINS:

LKR104.4] and Senkadagala Finance [SFCL: LKR50.0] have been over-

subscribed.

Dealing by Directors:

Local News Sri Lanka Treasuries yields steady: Sri Lanka's Treasuries yields were steady at Wednesday's auction with

the three month yield flat at 8.75%, data from the state debt office showed. The 6-month yield fell 01 basis

point to 9.90% and the 12-month yield rose 02 basis points to 10.86%. The debt office which is a unit of the

Central Bank offered LKR15.0 bn of maturing bills for rollover and accepted LKR16.2 bn in bids. The debt

office sold LKR2.2 bn in 3-month bills, LKR3.0 bn in 6-month bills and LKR11.0 bn rupees in 12-month bills.

Bill yields at auction fell steeply last week following a rate cut.

[Source: www.lbo.lk]

Sri Lanka HNB 'AA-(lka)' rating confirmed, pawning slowed: Fitch Fitch Ratings said an 'AA-(lka)' rating of Sri

Lanka's Hatton National Bank [HNB:LKR173.0] has been confirmed with a stable outlook and the bank has

slowed pawning advances as gold prices fell. It also confirmed an 'A+(lka)' rating of HNB's subordinateddebentures of LKR6.0 bn. "HNB's ratings reflect its strong domestic franchise in lending and deposit

mobilisation as the fourth-largest bank in Sri Lanka, as well as its satisfactory capitalisation and stable

operating performance," Fitch said. "However, HNB exhibits weaker asset quality than higher-rated peers,

partly owing to higher and more volatile non-performing loan (NPL) ratios and lower provisions coverage,

which constrain its ratings." HNB's Tier 1 capital adequacy ratio (CAR) was 14.1% at end-2012 and is strong

in a domestic context, Fitch said. The ratio fell to 11.85% if HNB set aside the full regulatory capital

requirement against its gold-backed lending (pawning) portfolio (currently zero capital allocation based on

domestic regulations). The adjusted figure would be modest compared with systemically important banks in

the region. Pawning advances accounted for 16% of HNB's loans in 2012 (2011: 14%). At end-2012, the

average loan-to-value (LTV) ratio on the pawning book stood at 70%, but increased to 82% as at end-March

2013 due to falling gold prices. HNB has since cut pawning growth to reduce risk, with monthly portfoliogrowth slowing to 0.4% in April 2013 (January 2013: 1.7%), compared to an overall loan growth of 1.5% in

the first three months of 2013.


Sri Lanka's Mercantile Investments to sell LKR1bn bonds: Sri Lanka's Mercantile Investments and Finance

[MERC:LKR2,200.0] plans to sell LKR1.0 bn in senior unsecured debt which has been rated 'BBB+' by RAM

Ratings Lanka. "The ratings are upheld by MIF’s good capitalisation levels," the rating agency said in a

statement. They are, however, tempered by its below-average asset quality as a result of its high exposure

to equity investments, its unseasoned loan portfolio given its recent rapid loan growth, and below-average

performance." MIF's asset quality is below average due to a high exposure to non-core assets (equity

investments) of 70.27% of shareholders funds which exceeds a limit set by the Central Bank at 25%. Its non

performing loan ratio was 2.81% at end December 2012 from 2.94% in March 2012.


Company Name Relationship Transacti

on

Quantity Price

(LKR)

Date

Royal Ceramic Lanka [RCL: LKR107.5] A M Weerasinghe Chairman Sale 840,000 109.0 20.05.2013



Softlogic Equity Research Page | 6

UK firm secures GBP35mn Lankan bridge deal: A Darlington firm has signed a GBP35 mn contract to build

hundreds of road bridges in Sri Lanka, BBC reported. Cleveland Bridge will design and build the structures in

jungle and rural areas of the country. The company will replace unreliable rope bridges with permanent steel

and concrete crossings. Graham Hutchinson from Cleveland Bridge was quoted as saying that the project

would make a major contribution to the "economic and social development " of Sri Lanka. The firm has

worked on similar projects in the Philippines.

[Source: www.dailymirror.lk]

Global News U.K. Inflation Rate Falls More Than Forecast to 2.4%: Economy: U.K. inflation slowed more than economists

forecast in April to a seven-month low and producer prices rose the least since 2009 as fuel costs fell.

Consumer prices rose 2.4% from a year earlier, down from 2.8% in March, the Office for National Statistics

said in London today. The median forecast of 35 economists in a Bloomberg News survey was 2.6%. Core

inflation also cooled, while factory-gate prices increased at the slowest annual pace in 3 1/2 years. The

pound weakened. The Bank of England lowered its forecasts for inflation last week and said price growth

may hit its 2% target earlier than previously estimated. The central bank, which also raised its growthprojections, kept its bond-purchase program at 375 bn pounds (USD569 bn) this month. Minutes of the

decision to be published tomorrow will show whether Governor Mervyn King continued his bid to boost

quantitative easing. “Looking to short-term inflation in the U.K., it is still likely to move higher in subsequent

months,” said David Tinsley, an economist at BNP Paribas SA in London. Still, the data “support our view that

inflationary pressures are set to wane due both to lower imported price pressures and because domestic cost

pressures are subsiding.”

[Source: www.bloomberg.lk]

RBA Cut Rate to Boost Business; Households Start to Respond: The Reserve Bank of Australia cut its

benchmark interest rate to a record low this month to boost businesses weakened by the currency’s

sustained strength, even as households reacted to earlier reductions. “Conditions in the business sector, asassessed in surveys, generally had remained below average, possibly in part because the exchange rate had

remained high,” the RBA said in minutes of its May 7 meeting released today in Sydney. “ Increasingly, the

household sector had shown signs of responding to” lower rates. Governor Glenn Stevens and his board have

slashed borrowing costs by 2% points over the past 19 months to 2.75%, joining global counterparts in

embracing record-low rates in an economy where inflation is contained, mining spending is predicted to

crest, and credit growth stays subdued. Stevens aims to rebalance growth from mining regions in the north

and west to builders and manufacturers in the south and east. That task has been complicated by the local

dollar’s surge from an October-2008 low that has hurt exporters and manufacturers, forcing them and

others companies to adapt.

[Source: www.bloomberg.com]

Documents

Daily Trade Journal - 21.05.2013 (1)