Friday 7 December 2012

LSL - Weekly Market Review - W/E 7th Dec 2012


Improved investor sentiment on Colombo equities drove all the three market indices up during the week. ASI advanced by 36.15 points (+0.68%WoW) to close at 5,387.40 whereas MPI advanced by 24.79 points (+0.51%WoW) to close at 4,793.62. S&P SL 20 Index ended at 2,953.62, up 11.60 index points (+0.39%WoW). Average turnover improved marginally by 3.6%WoW to LKR 538.2mn and foreign participation for the week was 48.4% with a total net inflow of LKR 975.4mn, up 6.5% over the last week.

The Colombo stock exchange commenced operations for the week on Monday with broad market indices ending up on a negative note. Market turnover was LKR 173Mn. Benchmark All Shares Index (ASI) fell 13.54 points (-0.25%), sensitive Milanka Price Index (MPI) fell 27.74 index points (-0.57%) and S&P SL 20 Index declined by 10.62 points (-0.36%). Major contributor for the turnover was John Keells Holdings with LKR 24.7mn followed by Pan Asia Bank with LKR 20.8mn and DFCC Bank with LKR 12Mn. Foreign participation was 21% of the total turnover and foreign investors were net buyers with a net inflow of LKR 8mn.

Colombo shares closed proceedings on Tuesday on a flat note with mixed sentiments shown around in many counters. ASI dropped by 6.26 (0.12%) and the liquid MPI gained by 14.52 (0.30%) points. S&P SL20 Index gained by 0.77 (0.03%). Market turnover improved to LKR 505.5mn mainly due to the crossings on John Keells Holdings, Environmental Resources Warrants 0003 and 0006.John Keells Holdings (LKR 161.4mn), Environmental Resources Warrants 0003& 0006 (LKR 189.1mn) combined were the top contributors to the turnover followed by Chevron Lubricants (LKR 20.8mn) which continued to attract high investor interest, and Keells Hotels (LKR 11.1mn). Further Free Lanka Capital Holdings, Renuka Shaw Wallace Rights (voting), and Odel Rights were among the actively traded stocks during the day. Foreign participation was 58% and foreign investors were net buyers of LKR 156mn.

Bourse ended almost flat on Wednesday where benchmark indices closed in opposite direction. ASI dropped 8.24 points (-0.15%) and MPI gained marginally by 1.23 points (+0.03%) while S&P SL 20 Index dropped by 9.03 index points. Turnover level improved to LKR 871.0mn mainly due to the off-the-floor deals recorded by Aviva NDB Insurance, John Keells Holdings and Asiri Surgical Hospitals. John Keells Holdings topped the turnover list with LKR 61.7mn followed by National Development Bank (LKR 21.2mn) and Aitken Spence Hotel Holdings (LKR 14.8mn). Panasian Power, Renuka Shaw Wallace – Rights and Vallibel One were the heavily traded stocks during the day. Foreign participation accounted for 43% of the total turnover and foreign investors were net buyers with a net inflow of LKR 702mn.

Colombo stocks, coming off four consecutive trading sessions of losses, gained in value on Thursday. The benchmark ASI recovered 64.12 points (+1.20%), Sensitive MPI recovered 42.41 points (+0.87%) and S&P SL 20 Index gained 28.71 points (0.98%).  Market turnover reached LKR 877.1mn supported by institutional activities in Nestle, John Keells Holdings, Distilleries, NDB and Environmental Resources Investments (warrants). Top contributor to the turnover was Distilleries (LKR 182.1mn) followed by National Development Bank (LKR 128.5mn) and Environmental Resources Investments – warrant 0006 (LKR 103.2mn). Central Investment & Finance, Peoples Leasing & Finance, HVA Foods and Swarnamahal Financial Services were the mostly traded stocks for the day. Foreign participation was relatively higher and it accounted for 66% of the total turnover. Foreign investors ended as net buyers with a net inflow of LKR 120.2mn.

Market wrapped the weekly operations on Friday on opposites. Benchmark ASI closed almost flat (gained 0.07index points) while MPI lost 5.63 index points (-0.11%) and S&P SL 20 Index gained 1.77 points (+0.06%). Market turnover was LKR 264.0mn. Off-the-floor deals were recorded from Citrus Leisure and Seylan Bank (non-voting) where the two counters brought out the highest turnover levels of LKR 89.5mn and LKR 47.1mn respectively and they were among the mostly traded stocks. Heavy retail investor interest was seen on People’s Lasing & Finance (LKR 20.8mn) during the day and it was the 3rd largest contributor to the turnover. Further, Citrus Leisure –warrants, Commercial Bank non-voting and HVA Foods were traded heavily. Foreign investor participation was lower at 6.9% and recorded a net outflow of LKR 11.0mn.


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