Home
Register
HNB-N was trading 200+ by the year begins. However with quarterly results coming in the stock price was crashing down steadily.
Q4 2018 - NPAT 4.7bn (-5% YoY)
Q1 2019 - NPAT 2.0bn (-57% YoY)
YoY NPAT decline was due to the aggressive provisioning for bad loan requirements under new laws where HNB had to provide close to 5bn provision each during the last two quarters.
The stock technically slipped to oversold territory since early May and remains within oversold region until the 2nd week of July. However a technical recovery can be seen since the beginning of current week. The stock price recovered from a low of 133/- to 145/- as at close on Friday. This is largely due to increased market momentum @ CSE in general and a renewed interest on the heavily beaten down sector due to possible interest rate cuts.
On technical grounds HNB stock's RSI has improved to 72 shifting from over-sold region to lower limits of over-bought region within a week. Close to 700k volume changed hand in the week.
We can expect the Q2 results of the bank to be very similar with that of Q1 where >50% drop in PAT YoY with similar huge lending provision. However if the market positivism carries to next week as well then we could expect the stock price to enter 152-155 range in the short term.
Q4 2018 - NPAT 4.7bn (-5% YoY)
Q1 2019 - NPAT 2.0bn (-57% YoY)
YoY NPAT decline was due to the aggressive provisioning for bad loan requirements under new laws where HNB had to provide close to 5bn provision each during the last two quarters.
The stock technically slipped to oversold territory since early May and remains within oversold region until the 2nd week of July. However a technical recovery can be seen since the beginning of current week. The stock price recovered from a low of 133/- to 145/- as at close on Friday. This is largely due to increased market momentum @ CSE in general and a renewed interest on the heavily beaten down sector due to possible interest rate cuts.
On technical grounds HNB stock's RSI has improved to 72 shifting from over-sold region to lower limits of over-bought region within a week. Close to 700k volume changed hand in the week.
We can expect the Q2 results of the bank to be very similar with that of Q1 where >50% drop in PAT YoY with similar huge lending provision. However if the market positivism carries to next week as well then we could expect the stock price to enter 152-155 range in the short term.
» CCS.N0000 ( Ceylon Cold Stores)
» Sri Lanka plans to allow tourists from August, no mandatory quarantine
» When Will It Be Safe To Invest In The Stock Market Again?
» Dividend Announcements
» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්රතික්ෂේප කළ ගණිතඥයා
» SEYB.N0000 (Seylan Bank PLC)
» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
» The Korean Way !
» In the Meantime Within Our Shores!
» What is Known as Dementia?
» SRI LANKA TELECOM PLC (SLTL.N0000)
» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
» Equinox ( වසන්ත විෂුවය ) !
» COMB.N0000 (Commercial Bank of Ceylon PLC)
» REXP.N0000 (Richard Pieris Exports PLC)
» RICH.N0000 (Richard Pieris and Company PLC)
» Do You Have Computer Vision Syndrome?
» LAXAPANA BATTERIES PLC (LITE.N0000)
» What a Bank Run ?
» 104 Technical trading experiments by HUNTER
» GLAS.N0000 (Piramal Glass Ceylon PLC)
» Cboe Volatility Index
» AHPL.N0000
» TJL.N0000 (Tee Jey Lanka PLC.)
» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
» Bitcoin and Cryptocurrency
» CSD.N0000 (Seylan Developments PLC)
» PLC.N0000 (People's Leasing and Finance PLC)
» Bakery Products ?
» NTB.N0000 (Nations Trust Bank PLC)
» Going South
» When Seagulls Follow the Trawler
» Re-activating
» අපි තමයි හොඳටම කරේ !
» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
» SAMP.N0000 (Sampath Bank PLC)
» APLA.N0000 (ACL Plastics PLC)
» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
» Banks, Finance & Insurance Sector Chart
» VPEL.N0000 (Vallibel Power Erathna PLC)
» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
» WATA - Watawala
» KFP.N0000(Keels Food Products PLC)
» Capital Trust Broker in difficulty?
» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
» What Industry Would You Choose to Focus?
» Should I Stick Around, or Should I Follow Others' Lead?