Daily Trade Journal - 22.03.2013

7/29/2019 Daily Trade Journal - 22.03.2013

1/7

p

q

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]

2.2%

7.4%

ASPI

S&P SL 20 Index

+ 5.05

- 0.57

5,768.88

3,312.71

ASPI

Friday, March 22, 2013

796.2

% ChangePoint ChangeToday

34.7

1,070.7

0.09 %

-0.02 %

2,217.8

YTD Performance

S&P SL 20 Index

38.1

153.8

4.3

414.5

260.7

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 22.03.2013Bourse ended trading on a flat note: Bourse journeyed on a

volatile path today as the benchmark index fluctuated with

marginal gains and losses with improved buying interest

leading the turnover to a 2-week high. Commercial Leasing &

Finance (+6.45), Sri Lanka Telecom (+2.1%) and Carsons

Cumberbatch (+1.1%) weighted positively on the index while

losses in Nestle Lanka, John Keells Holdings and Distilleries led

the bourse to close broadly flat at 5,768.88 points. The S&P SL20

followed a similar pattern closing flat at 3,312.71 points.

7 crossings breathed in 68% to the turnover: Investor hunt in

John Keells Holdings persisted with the counter emerging to

spearhead the turnover backed by 3 off-board blocks carrying

c.995k shares which were crossed off at LKR248.0. The counter

traded between LKR245.0 and LKR249.0 before closing with a

marginal dip of 0.6% at LKR247.5. Union Assurance and Keells

Food Products witnessed renewed participation as the former

recorded a deal which carried c.2.8 mn shares at LKR91.9 while

the latter added c.487k shares at a 52-week (off-market) price

of LKR70.1. Sampath Bank encountered a crossing of 500k

shares at LKR233.0 while on-board play in the counter was

relatively dormant. National Development Bankbooked a slotin the top turnover with a block of 400k shares which was

crossed off at a 52-week high (off-market) price of LKR163.0.

BFI sector dominated trading contributing 56% to the turnover:

Notable investor participation surrounded the BFI sector

extending its trend supported by its strong 88% YoY growth in

earnings during the December quarter. Banks enjoyed active

play led by Sampath Bank and National Development Bank

while each witnessed intra-day gains of 0.4%. Hatton Nation

Bank [Non-Voting] too secured interest dipping 1.1% at its close

of LKR130.1 while DFCC Bankcontinued to trade at tis 52-week

high price at of LKR131.0.

Renewed play in CLC & RAL: Commercial Leasing & Financewas among the top turnover slot with an on-board block of

c.10.3 mn shares which was transacted at its intra-day high of

LKR5.0 (+6.4%). Renuka Agri Foods which accounted for foreign

outflows recently recorded several large trades while it traded

at a 52-week low of LKR4.0. Asian Hotels & Properties saw a

block of 250k shares being picked on-board at LKR70.0.

Improved retail participation: Retail activity encountered some

improvement as PC House, Free Lanka Capital and Panasian

Power saw notable participation. Renewed interest was

observed in the poultry sector with Bairaha Farms and Grain

Elevators gaining 5.7% and 9.3% at their intra-day high levels

respectively.

Crossings carry theturnover to a 2-week highled by BFI sector


2/7

Statistical Look Up

Treasury Bill (%) 22.03.2013

9.22

10.25

11.26

13.81

Inflation (%) Feb-13 9.8

8.6

All Share Price Index p

S&P SL20 Index q

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 p

Beverage, Food & Tobacco q

Construction & Engineering q

Diversified q

Healthcare p

Hotels & Travels q

Land & Property q

Manufacturing p

Plantation q

Telecom p

595.0 594.9 0.01% 602.6 -1.26%

776.1 790.1 -1.77% 775.1 0.12%

2,557.6

3,299.1

-0.68%

3,318.2

467.8

0.66%2,550.8

3 months

6 months

12 months

YoY Change

Annual Avg

AWPLR

Excess Liquidity (LKR 'bn) as at 22.03.2013

Today

-13.46

169.5

2.3

2,567.7

16,143.7

2,726.0

1,898.8

13,341.4

Pre Day

0.00%

166.7 167.71.64%

13,029.5

16,241.3

1,901.5

3,322.3

471.0

-0.12%

2,724.0

1,870.0

0.42%

-0.60%

-0.30%

-0.14%

2,734.2

16,159.4

461.6

219.4

119.7

99.7

Change %

5,763.8

3,313.3

2.3

0.09% 15.4

Pre Day

Week ending

0.07%

71.70%

2.60%

1.15%

1.54%

1.13%

231

2,192.5

5,704.5

3,262.4

20.2

1.15%

0.00%

-0.02%

2,217.8

2.3

414.5

59.25%

59.25%-4.64%

-0.42%

8.434.7

237

3,312.7

672.4

5.3

238

1,070.7

0.09%

88.90%

117.70%

Today

153.8

2.1

260.7

15.6

5,768.9

2,215.8

36.3

46.69%

46.69%

% WoW

ChangeLast Week

729.9

5.8

2.39%

-0.10%

0.09%

1.03%

1.54%

0.58%

1.34%

% WoW

ChangeLast Week

1.15%

16.55%

1198.31%

-54.16%

355.6

0.40%

2.1

20.1

335.5

13,286.2

% Change

0.09%2.1

54.30%

15.6

5550

5600

5650

5700

5750

5800

Index

ASPI

3100

3150

3200

3250

3300

3350

Index

S&P SL20

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

0

500

1,000

1,500

2,000

2,500

3,000

Volume('mn)

TurnoverLKR('mn)

Turnover Volume

Softlogic Equity Research Page | 2.


3/7

High Index Calibre USD350 Mn

Price Gainers Price Losers

Top 05 Performers for the Day

JKH

UNION ASSURANCE

SAMPATH

NAT. DEV. BANK

COMM LEASE & FIN

Most Active

0.40 + 0.10 33.33% HAPUGASTENNE 32.30 - 5.50 -14.55%

-10.00%

-11.45%

-13.33%

-12.50%

1.50

43.40

24.70

+ 0.10

3.10

Today Pre Day

4.70

91.90

4.10

+ 7.50

DISTILLERIES

45,426

528,259

COMM LEASE & FIN 5.00

Company

9,253

10,005

2

MULTI FINANCE

MIRAMAR

Company Today

1.6%

MULLERS

S M B LEASING [X]

62,453

5,906.43

0.31

3,209 2,566.40

1.4%

Change

73.00

Company% of

Mkt CapVolume

2,242.37

3.33%

0.00%

91.50

-0.04%

1.7%

2.4%

Change

- 280.00

- 0.10

- 3.40

- 90.00

% Change

233.00

162.50

4.70

232.10

PARAGON

+ 2.90

KALAMAZOO

70.00

130.10

1,651.90

113.90

445.001,694.90

2,264.37

1,575.86

4.0%

2.1%

1.2%

3,655

206,899

13,612

8,434

4.0%

173.00

57.10

3.3%

170.00

57.00

445.00

3.5%

20.22

1,650.00

113.90

992.15

10.22

LOLC

AITKEN SPENCE 119.00

2.3% 12.41

1,297.84

167.00

534.62308.34

4.212.43

440.00

720.10

9.20

JOHN KEELLS HOLDINGS 1,148,022

SAMPATH BANK

ASIAN HOTELS & PROPERTIES 252,102

1.6%

1,215186

30,392

9.6%

6.8%CEYLON TOBACCO

CARSON CUMBERBATCHNESTLE LANKA

SRI LANKA TELECOM

COMMERCIAL BANK [V]

3.9%

3.3%BUKIT DARAH

DIALOG AXIATA

HNB [V]

DFCC BANK

CARGILLS

Turnover

USD ('000)

1,820.0011.45%

Intraday

Low (LKR)

Turnover

LKR ('000)

7,092.49

570.40

55.87

20.73

790.00

284,642.74

Intraday

High (LKR)

249.00

7.82

128.50

231.10

116.60

169.50

43.40

9.00

% Change

17,646.59

17.84

2,631.55

1,884.46

4.49

Today

7.14%

Turnover

(LKR)

154.70

14.85

0.00

113.00

57.00

154.30

41.50

123,055.31

71.40

232.00

165.50

42.90

715.00

69.50

26.30

810.00

TodayCompany

155.00

LANKA ALUMINIUM

0.70

969.41

139.02

261,766,765

11,130,503

46.53

THREE ACRE FARMS

S M B LEASING

Pre Day

-0.60%249.00 12.8%1.15

Volume (mn)% Change

7.16%

+ 1.80 7.86%

247.50

CompanyContribution to

Total T/O

131.00

0.5%

0.2%

2.71

10.84

2.85

2.50

-0.44%91.90

0.53

0.62-0.43%

1.74

6.38%

-0.44%

0.00%

4.5%

2.4%

11.8%

Contribution to

Total T/O

4,359,183

6.38%

3.00

FREE LANKA 2.50

232.00

161.80

5.00

RENUKA AGRI 4.10

UNION ASSURANCE 91.50

% Change

PC HOUSE

284,642,736

100,860,493

54,121,604

261,766,765

123,055,314

2.57

2.85

10.84

0.4% 7,938,453

54,121,604

11.8%

Volume (mn)

2.4%

Turnover

(LKR)

5.5%

165.50

117.20

720.00

9.10

801.00

Close

247.50

800.50

245.00



4/7

Currency Board Announcements

Local - Indicative Rate against LKR Dividends

Dollar No Annoucements

Yuan 0

Euro 0

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

p

p

q

q

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

Commodit Markets

Crude Oil (Brent) p

Crude Oil (WTI) p

ICE Cotton #2 p

CBOT Wheat q

COMEX Gold q

COMEX Silver q

COMEX Copper p

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

Australia

1,610.80 -2.80

METALS

ENERGY

Commodity

22,115.3

Units

0

1.0

Proportion

00-Jan-00

00-Jan-00

0.00

0.00

-0.62%

-0.83%

-90.2

Russia

Saudi Arabia

Japan

346.20

USD/t oz.

USD/t oz. -0.15

726.50

2.70

29.06

Index

Dow Jones Industrial Average

S&P 500 Index

EUROPE

EURO STOXX 50 Price EUR

12,338.5

Value

14,421.5

1,545.8

USD/bbl.

USd/lb.

USd/lb.

AMERICA

-2.25

-12.9

Change

0.09%0.13

0

0.50

Change %

0.79%

Change %

-0.31%

-0.52%

0.12%

0.52%

-2.35%

-0.50%

-0.19%

07:26

07:29

07:28

21-Mar

21-Mar

07:18

07:18

Time*

07:28

07:29

07:28

0.25%

07:28

Company

00-Jan-00

1/0/1900

1/0/1900

6,404.6

Singapore

Switzerland

Thailand

UK

0.12

-110.6

0

2,686.4

134.13

1/0/1900

1/0/1900

4.34

USA

02:28

16.7

1/0/1900

Change

0.10%

-297.2

04:01

0

Payment DateDPS (LKR) XD Date

192.71

0.00

0.00 0

0

126.94

0.0033.85

Malaysia

4.10

132.33

20.43

2.33

1.34

40.74

India

Currency

163.91

Indicative Rate

22.03.2013

China

0

USd/bu.

88.28

Price

107.60

92.93

USD/bbl.

101.56

AGRICULTURE

Hong Kong Hang Seng Index

Nikkei 225

ASIA

FTSE 100 Index

EU

00-Jan-00

1/0/1900

1/0/1900

00-Jan-00

Description

0.00

0.00

0 1/0/1900

0

XR Date

00-Jan-00

00-Jan-00

00-Jan-0000-Jan-00

Renunciation

00-Jan-00

0.00

Time*

00-Jan-00



5/7

Softlogic Equity Research Page | 5

CSE Announcements

No Announcements.

Local News

Sri Lanka renewable energy, SME credit line from EIB: The European Investment Bank will loan 90 mn Eurosto Sri Lanka which will be used to finance for renewable energy projects and small and medium enterprises,

minister Keheliya Rambukwelle said. DFCC Bank [DFCC: LKR130.1], Commercial Bank of Ceylon [COMB:

LKR113.90]and Regional Development Bank will disburse loans to borrowers. Renewable energy loans will

be given to entities in public or private sector, minister Rambukwelle said. EIB will loan the money to Sri

Lanka at the EIB rate (about 2.9%) as a 20-year loan with a 15 year payback, which will be on-lent to banks

by the government with 70% allocated for SMEs and 30% for renewable energy.

[Source: www.lbo.lk]

UNHRC triumphs over Lanka: For only the second time in its history as a UN member state, a resolutionagainst Sri Lanka was adopted at the UNs Human Rights Council in Geneva with 25 votes in favour

yesterday, signalling that the country would remain on the international agenda for some years to come. The

UNHRC resolution on Sri Lanka A/HRC/22/L.1/Rev.1 aimed at pushing the Government in Colombo to make

good on post-war reconciliation, devolution of power and investigating allegations of violations ofhumanitarian law during the final stages of the war with the LTTE, was co-sponsored by 41 countries,

including the United States. Twenty-five of the Councils 47 member states, including India voted in favour of

US-sponsored draft, with 13 states voting against and eight abstentions when the resolution came up for

voting around 11.30 a.m. Geneva time. Sri Lankas Head of Delegation to the UNHRC in Geneva Minister

Mahinda Samarasinghe slammed the resolution as being intrusive and overwhelmingly pessimistic.

Samarasinghe said the operative paragraphs of the text were indicative of an initiative based on a politicised

process.

[Source: www.ft.lk]

Money market liquidity drops to a two month low: Sri Money market liquidity on an overnight basis dippedto a two month low of LKR8.18 bn yesterday with only an amount of LKR4.75 bn been mopped up from thesystem on an overnight basis by way of a Repo auction conducted by the Open Market Operations (OMO)

department of Central Bank at a WAvg of 8.35%. However overnight call money and repo rates remained

mostly unchanged to averaged 9.46% and 8.59% respectively, In secondary bond markets, the upward

movement of bond yields experienced in the secondary market driven by Wednesdays Treasury bill auction

results which saw weighted averages increased across the board reversed, with the 5 year Treasury bond

yields reflecting a dip of 7 basis points to hit an intraday low of 11.38% while quotes on the 4 year maturity

was at levels of 11.40%. On the contrary, in secondary market bills, selling pressure was witnessed on all

three maturities above its respective weighted averages.

[Source: www.ft.lk]


6/7


RAM reaffirms EB Creasy and Company [EBCR: LKR950.0] PLCs A-/P2 ratings: RAM Ratings Lanka hasreaffirmed EB Creasy and Company [EBCR: LKR950.0]long- and short-term corporate credit ratings of A- and

P2. The outlook on the long-term rating is stable. The ratings are supported by its diversity in business

operations, major market positions in most of its business lines, the resilient demand for agrochemicals, and

above-average debt-protection metrics. However the ratings are pressured by its exposure to the volatility inthe plantation segment and its vulnerability to fluctuations in raw material prices. EB Creasys ratings largely

reflect the credit profile of its subsidiary Lankem Ceylon [LCEY: LKR152.0], which contributed about 75% of

Group revenues and pre-tax profits in FYE 31 March 2012. Lankem is also rated A-/P2 by RAM Ratings Lanka.

.

[Source: www.ft.lk]

Tea exports drop first two months: Exports of Sri Lankan Tea dipped by 2.97% Year-on-Year (YoY) betweenJanuary and February of this year to 43.9 mn kilograms (kg) according to data analyzed by Ceylon Tea

Brokers [CTBL: LKR5.20]. In value terms, tea exports reached LKR25.9 bn at an average FOB price of LKR

590.39, against LKR24.2 bn at LKR520.31 per kg in the previous year, largely accounted for by a weaker

rupee subsequent to 2012s switch over to a floating currency from the Central Bank of Sri Lanka. Russia andIran remained the two largest exporting destinations. However Russian exports reduced by 0.94% YoY

between January and February to 7.01 mn kg whilst Iranian exports declined by 0.56% YoY to 5.73 mn kg.

[Source: www.dailymirror.lk]

Global News

German Business Confidence Unexpectedly Drops: German business confidence unexpectedly fell from a 10-month high in March as Cyprus inflamed the euro regions debt crisis. The Ifo institute in Munich said its

business climate index, based on a survey of 7,000 executives, declined to 106.7 from 107.4 in February.

Thats the first drop in five months. Economists predicted a gain to 107.8, according to the median of 42forecasts in a Bloomberg News survey. With the European Central Bank threatening to cut off emergency

funding for Cypruss banks unless it agrees to the terms of a European Union-led bailout, the tiny

Mediterranean island has re-ignited concerns about the euro and roiled financial markets. Still, German

investor confidence unexpectedly rose to a three-year high this month and the Bundesbank said the nations

economic recovery remains on track.

[Source: www.bloomberg.com]

Kuroda Rebuts Reflation Naysayers as BOJ Action Looms: Economy: Bank of Japan (8301) GovernorHaruhiko Kuroda said hes confident in achieving a 2% inflation target, rebutting doubters who predict his

efforts will fail as he prepares to strengthen monetary stimulus. We will do whatever we can to achieve the

2% price target at the earliest time possible, Kuroda said yesterday in his inaugural press conference aftertaking the helm of the BOJ this week. Kurodas anti-deflation campaign came under criticism even before it

began, reflecting debate over whether monetary policy is capable of lifting Japan out of economic

stagnation. Eisuke Sakakibara, an ex-Finance Ministry colleague of Kurodas, said hed fail to achieve the

price goal, and former BOJ board member Atsushi Mizuno said hed hit a wall of reality because more

bond purchases would escalate risks of a market bubble.

[Source: www.bloomberg.com]


7/7


Softlogic Equity ResearchDimantha Mathew

[email protected]

+94 11 7277030

Kavindu Ranasinghe

[email protected]

+94 11 7277031

Imalka Hettiarachchi

[email protected]

+94 11 7277032

Softlogic Equity SalesBranches

Horana

Madushanka Rathnayaka

No. 101, 1/1, Aguruwathota Road, Horana

[email protected]

+94 34 7451000, +94 77 3566465

Negambo

Krishan WilliamsNo. 121, St. Joseph Street Negambo

[email protected]

+94 31 2224714-5, +94 77 3569827

Kurunegala

Bandula Lansakara

No.13, Rajapihilla Mawatha, Kurunegala

[email protected]

+94 37 2232875, +94 77 3615790

Matara

Lalith Rajapaksha

No.8A, 2nd

Floor, FN Building, Station Road, Matara

[email protected]

+94 41 7451000, +94 77 3031159

Dihan Dedigama

[email protected]

+94 11 7277010, +94 77 7689933

Chandima Kariyawasam

[email protected]

+94 11 7277058, +94 77 7885778

Shafraz Basheer

[email protected]

+94 11 7277054, +94 77 2333233

Sonali Abayasekera

[email protected]

+94 11 7277059, +94 77 7736059

Thanuja De Silva

[email protected]

+94 11 7277053, +94 77 3120018

The report has been prepared by Softlogic Stockbrokers (Pvt) Ltd. The information and opinions contained herein has been compiled or arrived at based upon

information obtained from sources believed to be reliable and in good faith. Such information has not been independently veri fied and no guaranty, representation

or warranty, express or implied is made as to its accuracy, completeness or correctness. All such information and opinions ar e subject to change without notice. This

document is for information purposes only, descriptions of any company or companies or their securities mentioned herein are not intended to be complete and

this document is not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell any securities or other financial instruments.

Softlogic Stockbrokers (Pvt) Ltd may, to the extent permissible by applicable law or regulation, use the above material, conclusions, research or analysis in which

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respective directors, officers, representatives, employees, related persons and/or Softlogic Stockbrokers, may have a long or short position in any of the securities or

other financial instruments mentioned or issuers described herein at any time and may make a purchase and/or sale, or offer to make a purchase and/or sale of any

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Documents

Daily Trade Journal - 22.03.2013