The Bourse Weekly Performance (Week ended April 25, 2014)

http://www.sundayobserver.lk/2014/04/27/fin63.asp

Although the All Share Price Index was down approximately 13 points week-on-week last week, Acuity Stockbrokers reported that market sentiment had remained broadly positive with buying interest across the board sustaining momentum.

"Profit taking pushed the main All Share Price Index approximately 13 points down but significant interest on fundamentally strong banking and diversified counters was evident throughout the week," Acuity’s market report said.

Apart from Friday, the net foreign position through the week had been positive with purchases totaling Rs.1.3 billion running ahead of sales of Rs.0.5 billion, the report said.

"With the earnings season just beginning, market sentiment in the week ahead is likely to depend on company performance," the report said.

"Investor expectation on robust financial year earnings (most of the companies of the CSE will be releasing full year earnings this quarter) and anticipation surrounding mergers and acquisitions in the banking and financial sectors is likely to prop sentiment in the weeks ahead."

The ASPI declined 12.95 points (0.21%) to end the week at 6,167.81 points while the S&P SL20 index remained largely unchanged closed at 3,387.97 points compared to 3,388.092 points at the close of the previous week.

JKH was the top contributor to market turnover last week accounting for 15.46% of the total (Rs.628.95 million) followed by Royal Ceramics (Rs.410.2 million or 10.08%) and Sunshine Holdings (Rs.397.2 million or 9.96%).

Daily average turnover was up 15.5% week-on-week to Rs.813.8 million from Rs.704.6 million the previous week.
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Colombo shares started the fresh week on Monday on a positive note as All share price index gained 6.27 points (+0.10%) to close at 6,187.03 while 20-script S&P SL index marginally gained 6.92 points (+0.20%) to close at 3,394.94. Daily market turnover was LKR 816mn.  Royal Ceramics (LKR 247mn) positioned at the top of the turn over list followed by John Keells Holdings (LKR 152mn) and Sunshine Holdings (LKR 38mn). Moreover Piramal Glass, Expo Lanka and Lanka IOC managed to attract heavy investor interest. Foreign investors continued to be net buyers with net inflow of LKR 160mn. Foreign participation was 12%.

Equity Market managed to sustain the favorable momentum on Tuesday as both indices closed with positive returns. All share price index advanced marginally by 4.80 points (+0.08%) to end at 6,191.83 where S&P SL 20 index advanced marginally by 2.48 points (+0.07%) to end at 3,397.42. Market turnover was LKR 551mn. John Keells Holding (LKR 103mn) emerged as the top contributor to the market turnover followed by Commercial bank (LKR 89mn) and Piramal Glass (LKR 26mn). Piramal Glass managed to attract heavy investor interest subsequent to the declaration of first & final dividend of LKR 0.38 per share. Further Orient Garments, Seylan Developments and John Keells Holdings Warrant 0022 were among mostly traded counters.

Meanwhile, Adam Investments is offering approx. 133.33mn ordinary voting shares at LKR 3.00 per share through an IPO. Foreign investors continued to be net buyers with net inflow of LKR 179mn. Foreign participation was 25%.

Colombo stock market snapped the five day winning streak on Wednesday as both indices witnessed negative returns. All share index declined by 19.06 index points or 0.31% to close at 6,172.77 while 20-scrip S&P SL index declined by 23.87 index points or 0.70% to close at 3,373.55.  Daily market turnover was LKR 671mn. Hatton National Bank emerged top contributor to the market turnover with LKR 84mn followed by Hatton National Bank non-voting (LKR 74mn) & John Keells Holdings (LKR 61mn).  Orient Garment attracted heavy investor participation during the last day of mandatory offer made by Adam Investments and Dr.T.Senthilverl. Watawala Plantations, Piramal Glass & George Steuart Finance were among mostly traded stocks.

Meanwhile according to T-bill auction, short term treasury yield eased marginally while the 6-month yield was unchanged at 6.79%. Accordingly 3-month yield was 6.58% (-3bps) & 12-month was 7.02% (-1bps). Foreign Participation was 34% for the day while foreign investors were net buyers with net inflow of LKR 109mn.

Colombo shares managed to regain lost ground on Thursday. All share price index advanced marginally by 5.36 points (+0.09%) to close at 6,178.13 while 20-script S&P SL index advanced by 21.01 points (+0.62%) to close at 3,394.56. Market turnover was LKR 1.13bn. George Stuart Finance (LKR 338.5mn) topped the turnover list underpinned by the crossing of 11.43mn shares at LKR 28.80 per share. The crossing was 50.8% from the issued quantity, which was held by Divasa Equity (Pvt) Ltd. According to the announcement made by the company, this stake was bought by George Stuart & Co. Limited.  John Keells Holdings (LKR 311.8mn) and Royal Ceramic (LKR 68.8mn) positioned as next best contributors to the market turnover. Meanwhile shares of George Stuart Finance, Union Bank and Sierra Cables were among mostly traded stocks.  Foreign Participation was 29% for the day while foreign investors were net buyers with net inflow of LKR 356mn.

Colombo bourse concluded the week in the negative territory where Benchmark All share price index lost 10.32 points (-0.17%) to close at 6,167.81 and S&P SL 20 index lost 6.59 points to close at 3,387.97. Price declines in index heavy counters such as Ceylon Tobacco (closed at LKR 1,065.50, -3.1%), John Keells Holdings (closed at LKR 233.20, -1.8%) and Bukit Darah (closed at LKR 580.00, -2.5%) contributed adversely to the index performance.

Gainers outweighed the losers 108 to 94, while 62 counters remained unchanged. Cash map declined to 41% from 75 %.

Daily Market turnover was LKR 906mn. Several crossings recorded in Sunshine Holdings (11mn shares at LKR 30.00 per share) and Sampath Bank (0.15mn shares at LKR 195.00 per share).

Sunshine Holdings (LKR 358mn) emerged as the top contributor to the market turnover followed by Royal Ceramic (LKR 81mn) and Commercial bank (LKR 37mn).

Meanwhile George Stuart Finance further managed to attract heavy investor interest during the session. Accordingly Sunshine Holdings, Laxapana Batteries and Nation Lanka Finance were among mostly traded counters.

Foreign Participation was low at 9% for the day. After 12 days of foreign inflows, foreign investors were net sellers with net outflow of LKR 9mn. Foreign outflows were seen in Aitken Spence (LKR 30mn), Royal Ceramic (LKR 15mn) and First Capital Holdings (LKR 7mn) while foreign inflow was mainly seen in Sampath Bank (LKR 29mn).


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Thanks RED for sharing.