Market review 18/3/2014 Lanka Business Online

[Winner]

Sri Lanka shares end weaker
18 Mar, 2014 16:30:15
Mar 18, 2014 (LBO) - Sri Lanka's shares end 0.11 percent lower with food and beverages firm Nestle losing ground amid net foreign selling on the board, brokers said.

The Colombo benchmark All Share Price Index closed 6.47 points lower at 5,907.64 down 0.11 percent. The S&P SL20 closed 1.22 points higher at 3,214.64, up 0.04 percent.
Turnover was 509.27 million rupees, up from 91.19 million rupees a day earlier with 91 stocks close positive against 74 negative.

Foreign investors bought 307.99 million rupees worth shares while selling 369.22 million rupees of shares.

Nestle Lanka closed 78.40 rupees lower at 1,912.10 rupees and Commercial Leasing and Finance closed 20 cents lower at 3.80 rupees, contributing most to the index drop.

Asiri Surgical closed 10 cents higher at 13.90 rupees and Sampath Bank closed 2.60 rupees higher at 178.20 rupees, attracting most number of trades during the day.

Carson Cumberbatch closed 5.00 rupees lower at 345.00 rupees and Bukit Darah closed 3.90 rupees higher at 555.00 rupees.
Ceylon Tobacco Company closed flat at 1,120.00 rupees and John Keells Holdings closed 90 cents higher at 219.00 rupees.

JKH’s W0022 warrants closed 2.00 rupees higher at 64.00 rupees and its W0023 warrants closed 2.40 rupees higher at 67.30 rupees.

Commercial Bank closed 50 cents higher at 115.00 rupees and Lanka Orix Leasing Company closed 2.00 rupees lower at 75.00 rupees.

Distilleries closed 30 cents lower at 199.20 rupees.

Associated Motor Finance Company closed flat at 308.00 rupees with the company on Monday allowed a due diligence in line with central bank’s financial sector consolidation process.

[SrirangaVeteran]

JKH generates over half the day’s business

The Colombo bourse yesterday saw turnover looking up from a near five-year low posted the previous day and the indices marginally pointing in opposite directions.

A turnover of Rs.509.3 million was posted, up from the previous day’s Rs.90.9 million, with the All Share Price Index down 6.47 points (0.11%) while S&P SL20 was up 1.22 points (0.04%) with 103 gainers ahead of 74 losers while 144 counters closed flat.

JKH was responsible for over half the day’s turnover closing Rs.1.90 up at Rs.220 on nearly 1.3 million shares traded on the floor between Rs.218.10 and Rs.220 contributing Rs.274.3 million to turnover.

"JKH’s volume weighted average was Rs. 218.26," a broker said. "There were no block trades yesterday and we saw some cautious buying with turnover supported by Commercial Bank, NDB, Aitken Spence and United Motors."

Commercial Bank (voting) closed 50 cents up at Rs.115 on nearly 0.3 million shares done between Rs.114.90 and Rs.115.20 contributing Rs.31 million to turnover while NDB closed 10 cents down at Rs.179.90 on nearly 0.2 million shares done between Rs.179 and Rs.190 contributing Rs.29.2 million to turnover.

Spence closed a rupee up at Rs.98 on 0.2 million shares (Rs.20.7 million turnover) while United Motors closed Rs.2 down at Rs.123 on nearly 0.2 million shares (turnover Rs.20.3 million).

Among other most traded stock Textured Jersey closed flat at Rs.15.60 on 1.2 million shares, Bairaha Farms closed Rs.4.50 up at Rs.146.50 on 0.1 million shares and Sampath closed Rs.3.30 up at Rs.178.90 on 67,980 shares.

Associated Motor Finance (AMF) said in a Stock Exchange filing said that its Board has commissioned H.L.B. Edirisinghe & Company, Chartered Accountants, to carry out a due diligence on AMF "for the purpose of the preparation of a valuation and information memorandum.’’

This was to facilitate the financial sector consolidation that the Central Bank has required of the financial services industry for purposes of merging banking and finance companies to reduce the number of licensed finance companies now operating in the market.

Union Bank announced a final dividend of 25 cts. per share for 2013 XD from Mar. 26 and with payment on Apr. 4.
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