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Transcript of Daily Trade Journal - 11.06.2013
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7/28/2019 Daily Trade Journal - 11.06.2013
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q
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]
YTD Performance
S&P SL 20 Index
41.0
213.1
16.0
358.6
145.5
Tuesday, June 11, 2013
921.7
% ChangePoint ChangeToday
31.7
750.6
-0.59 %
-0.39 %
2,420.7
ASPI
S&P SL 20 Index
- 37.49
- 13.98
6,303.79
3,560.47
ASPI 11.7%
15.4%
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 11.06.2013Indices reverted to the red amidst stagnation: Bourse
depicted a rather stagnating pattern where the early
uptrend in the benchmark index failed to sustain as it
fluctuated between marginal gains and losses during
mid-day to close down 34 points. The key dividend
players which saw considerable rallying recently; Ceylon
Tobacco Company (-1.3%) and Chevron Lubricants
Lanka (-5.2%) weighed negatively on the indicesoutweighing gains in John Keells Holdings, Lanka Orix
Leasing Company and Hemas Holdings. The S&P SL20
index adopted a similar trend as it settled at 3,562.55 (-
11 points).John Keells Holdings dominated the turnover: Investor
focus stayed in John Keells Holdings depicting strong on-
board activity weighing largely on the selling side while
off-board activity highlighted a block of 126k shares at
LKR275.0. The counter closed with a gain of 0.8% at
LKR275.0. United Motors Lanka added a block of 1 mn
shares to the crossings board at LKR119.0 however on-
board participation remained insignificant.
Interest stayed in large banks and diversified sector:
Sampath Bank and Commercial Bank continued to
gather focus with their strong valuation status as they
dipped 0.1% and 0.3% during the days trading enabling
opportunity for further accumulation. The former saw a
block of c.231k shares being transacted on-board at
LKR217.0 while the latter encountered significant buying
interest as several mid-sized blocks traded between
LKR119.5 and LKR121.5. The BFI and diversified sectors
collectively added 61% to the turnover. Hemas Holdings
sustained interest with a few large blocks being picked
between LKR36.5 and LKR37.0 while renewed interest in
Aitken Spence was noted as two blocks totaling c.170.5k
shares were collected on-board at LKR135.0. Some
renewed interest was also observed in Lanka Orix
Leasing Company.
Retail activity extended in penny stocks: Selected retail
favourites gathered attention amidst the consolidation
phase of the bourse. Interest continued in Kelsey
Developments and Nation Lanka Finance while Blue
Diamond [Non-Voting] and FLC Holdings also saw
notable activity.
Indices relapsed to the red asselected heavy caps dipped
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7/28/2019 Daily Trade Journal - 11.06.2013
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Statistical Look Up
Treasury Bill (%) 07.06.2013
8.70
9.81
10.85
12.71
Inflation (%) May-13 7.3
8.8
All Share Price Index q
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 q
Beverage, Food & Tobacco q
Construction & Engineering q
Diversified p
Healthcare q
Hotels & Travels q
Land & Property q
Manufacturing q
Plantation q
Telecom q
-7.66%
2.4
102.9
439.0
13,846.1
% Change
-0.59%2.3
-40.40%
17.2
-2.55%
-1.22%
-2.92%
-5.90%
% WoW
ChangeLast Week
-2.26%
-33.83%
41.35%
-51.46%
541.9
2,435.1
26.6
-27.65%
-27.65%
% WoW
ChangeLast Week
1,037.5
8.2
-1.22%
-2.53%
-0.59%
Today
213.1
2.3
145.5
17.1
6,303.8
-0.39%
2,420.7
2.1
358.6
-9.11%
-9.11%19.13%
-3.69%
5.931.7
235
3,560.5
825.9
6.5
244
750.6
-0.59%
-23.72%
29.31%
Week ending
-1.35%
36.10%
-9.27%
-2.26%
-2.34%
-2.26%
259
2,476.7
6,449.7
3,645.9
23.3
-2.26%
0.00%
470.1
112.5
357.6
Change %
6,341.3
3,574.5
2.1
-0.59% 17.5
Pre Day
13,959.2
19,349.3
2,067.4
3,571.6
638.7
-1.03%
2,943.7
2,098.9
-0.41%
-1.20%
-0.29%
0.29%
2,912.6
19,613.8
663.5
166.7 170.9-0.12%166.5
2.1
3,137.9
19,117.6
2,904.0
2,073.4
13,789.2
Pre Day
0.00%
3 months
6 months
12 months
YoY Change
Annual Avg
AWPLR
Excess Liquidity (LKR 'bn) as at 11.06.2013
Today
-12.03
688.2 695.2 -1.00% 708.9 -2.92%
809.3 819.5 -1.25% 835.0 -3.07%
3,398.2
3,641.1
-2.25%
3,534.7
624.3
-1.90%3,198.5
6000
6100
6200
6300
6400
6500
6600
Index
ASPI
3400
3450
3500
3550
3600
3650
3700
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.
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High Index Calibre USD350 Mn
Price Gainers Price Losers
Top 05 Performers for the Day
JKH
UNITED MOTORS
SAMPATH
HEMAS HOLDINGS
COMMERCIAL BANK
Most Active
Close
275.00
972.00
274.50
989.00
167.00
135.00
706.20
9.00
Volume (mn)
0.1%
Turnover
(LKR)
4.6%
143,832,087
40,445,300
32,703,961
119,024,680
110,500,942
2.23
1.00
0.27
1.0% 24,576,316
1,996,577
4.9%
217.00
37.00
119.70
S M B LEASING[NON VOTING] 0.40
PC HOUSE 2.70
% Change
NATION LANKA
BLUE DIAMONDS[NON VOTING] 1.40
2.69
5.72
5.25
1.40
0.00%117.50
0.51
1.102.78%
1.52
-40.00%
0.00%
0.00%
1.7%
1.4%
0.6%
Contribution to
Total T/O
2,131,531
-0.25%
11.40
14,681,064
1,074,962
23.99
BERUWELA WALKINN
ASCOT HOLDINGS
Pre Day
0.81%272.80 5.9%0.52
Volume (mn)% Change
6.10%
+ 15.00 6.98%
275.00
CompanyContribution to
Total T/O
145.80
0.0%
0.1%
Turnover
(LKR)
175.00
2.48
1.68
119.50
58.60
175.00
41.90
110,500.94
73.00
217.00
167.00
41.90
700.00
72.00
1.10
3.40
TodayCompany
180.00
ENVI. RESOURCES [W 0003]
145.00
872.19
5.56704.59
6.25
299.20
314.27
126.96
Today
5.94%
Turnover
USD ('000)
67.3016.82%
Intraday
Low (LKR)
Turnover
LKR ('000)
32,703.96
16,084.91
258.13
2.36
970.00
143,832.09
Intraday
High (LKR)
276.00
218.62
144.80
216.60
135.00
195.00
42.50
9.00
% Change
JOHN KEELLS HOLDINGS 523,001
SAMPATH BANK
ASIAN HOTELS & PROPERTIES 9,659
1.6%
03,504
11,915
9.7%
7.5%CEYLON TOBACCO
CARSON CUMBERBATCHNESTLE LANKA
SRI LANKA TELECOM
COMMERCIAL BANK [V]
3.6%
3.0%BUKIT DARAH
DIALOG AXIATA
HNB [V]
DFCC BANK
CARGILLS
13.24
1,990.00
121.50
27,697.15
3.95
LOLC
AITKEN SPENCE 136.10
2.4% 22.11
500.58
171.00
0.006,972.97
0.0055.04
0.00
710.00
9.20
1,990.00
119.70
0.001,999.00
791.49
2,801.08
3.9%
2.3%
1.2%
427
34,755
4,700
205,164
4.4%
199.00
60.00
3.0%
195.00
60.00
440.10
3.1%
117.50
-0.09%
1.5%
2.2%
Change
- 11.20
- 15.00
- 0.10
- 0.30
% Change
218.00
36.00
120.00
217.20
CEYLON LEATHER [W 0014]
+ 5.00
HUEJAY
72.00
145.00
Volume
1,135.28
-7.02%
0.00%
272,414
3,039.16
212.26
1,729 1,677.50
1.3%
Change
75.00
Company% of
Mkt Cap
10.60
Today Pre Day
0.50
2.70
0.40
+ 10.80
DISTILLERIES
20,924
509,215
NATION LANKA[WARRANTS] 0.30
Company
14,347
268,114
1,210
CONVENIENCE FOOD
MIRAMAR
Company Today
1.6%
SOFTLOGIC FIN
KELSEY 24.10 + 4.40 22.34% NATION LANKA [W 0021] 0.30 - 0.20 -40.00%
-8.11%
-8.33%
-14.27%
-9.38%
33.90
87.00
230.00
+ 1.90
Softlogic Equity Research Page | 3.
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Currency Board Announcements
Local - Indicative Rate against LKR Dividends
Dollar No Announcements
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
q
q
q
q
* Time is as at ET Source: www.bloomberg.com
Commodit Markets
Crude Oil (Brent) q
Crude Oil (WTI) q
ICE Cotton #2 p
CBOT Wheat q
COMEX Gold q
COMEX Silver q
COMEX Copper q
* Time is as at ET Source: www.bloomberg.com
00-Jan-00
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*
USd/bu.
86.80
Price
102.80
94.79
USD/bbl.
100.54
AGRICULTURE
Hong Kong Hang Seng Index
Nikkei 225
ASIA
FTSE 100 Index
EU
197.23
0.00
0.00 0
0
126.69
0.0033.78
Malaysia
3.92
119.20
20.66
2.18
1.28
40.27
India
Currency
167.94
Indicative Rate
11.06.2013
China
0
Payment DateDPS (LKR) XD Date
6,292.9
Singapore
Switzerland
Thailand
UK
-1.15
-260.4
0
2,665.1
135.64
1/0/1900
1/0/1900
4.10
USA
02:28
-107.6
1/0/1900
Change
-2.00%
-196.6
04:01
0
00-Jan-00
1/0/1900
1/0/1900
06:52
07:13
-1.68%
07:13
Company
07:11
06:51
07:13
10-Jun
0-Jan
07:07
07:06
Time*
07:12
-1.43%
Change %
-0.07%
-1.55%
-1.11%
-1.02%
-1.45%
-1.20%
-1.00%
-0.6
Change
0.17%0.15
0
-0.98
Change %
319.45
USD/t oz.
USD/t oz. -0.34
689.25
-4.65
21.59
Index
Dow Jones Industrial Average
S&P 500 Index
EUROPE
EURO STOXX 50 Price EUR
13,317.6
Value
15,238.6
1,642.8
USD/bbl.
USd/lb.
USd/lb.
AMERICA
-0.50
METALS
ENERGY
Commodity
21,354.7
Units
0
-54.3
Proportion
00-Jan-00
00-Jan-00
0.00
0.00
-0.06%
-0.03%
-9.5
Russia
Saudi Arabia
Japan
1,372.20 -13.80
Australia
Softlogic Equity Research Page | 4.
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Softlogic Equity Research Page | 5
CSE Announcements
Debenture Issue: The debentures issues of Central Finance [CFIN:LKR190.5], Lion Brewery [LION: LKR390.0]has been oversubscribed.
Conversion of Warrants:
Dealing by Directors:
Local News
Sri Lanka rupee weakens below 127 to dollar: Sri Lanka's rupee weakened below 127 to the US dollar in thespot market in mid-morning trade Tuesday, amid excess liquidity, dealers said. The spot US dollars weakened
as much as 127.10/15 to the US dollar from levels of around 126.50 seen Friday. In late April the Central
Bank sold down its Treasury bill stock on a net basis, an action that drain rupee reserves from the banking
system and reduces credit and import demand. In May liquidity a term repo auction also locked up liquidity
temporarily, which was unwound on May 31. The bill stock has also climbed slightly in the period. The
Central Bank has been encouraging greater domestic credit to boost economic activity. Many Asian
currencies which operate close to floating rates have weakened in the past few months as the US dollar
tended to strengthen.
[Source: www.lbo.lk]
Mixed aroma over 2013 tea crop: Upturn in Sri Lankas, as well as global, tea crop has evoked mixedsentiments over the industrys fortunes with some taking heart from a likely record output whilst others
expressed that it could hurt prices. With positive growth in tea crop witnessed in the first four months this
year, top tea industry analysts predict that Sri Lanka would see a record year in tea production for 2013.
While the tea production for April 2013 exceeded the previous best of 32.2 mn kilograms achieved in 2005,
analysts hinted that 2013 will end with the highest ever tea yield of 335 mn kilograms. Attributing theincrease in tea production to the favourable weather conditions that was witnessed so far this year, Forbes
and Walkers Tea Brokers Managing Director Yshan Fernando told the Daily FT that since cumulative
production for January to April in 2013 was 9.5% higher than the corresponding period of last year, the
chances of having a record high is possible. With a production of 115 mn kilograms for the first four months
this year, we have noted that this is approximately 10 mn kilograms higher than the production of 2011.
Based on this, we predict the annual production for 2013 to be around 335 mn kilograms, Fernando said.
[Source: www.ft.lk]
Secondary market Treasury bond yields edge up marginally: Secondary market Treasury yields reflected anupward trend as selling pressure resulted in yields closing the day marginally higher in comparison toFridays closing levels. The two liquid five-year maturities (i.e. 1 April 2018 and 15 August 2018) increased to
intraday highs of 11.08% and 11.15% respectively while the four-year maturity was offered at 11.02%. In the
meantime the eight year maturity was quoted at levels of 11.43/50% and the 364-day maturity within the
range of 10.75/10.85%. However, the volumes traded were marginal. In the money markets, overnight call
Company Cut-off date Expiration
Date
Exercise
Price (LKR)
Nation Lanka Finance [CSF: LKR10.6] 14.06.2013 01.07.2013 12
Company Name Relationship Transaction Quantity Price (LKR) Date
Richard Pieris and Company [RICH: LKR7.4] Dr. Sena Yaddehige Chairman Purchase 18,850,005 5.2 10.06.2013
Nation Lanka Finance [CSF: LKR10.6] Mr. V R Ramanan Director Purchase 7,600,000 11.4-12.0 10.06.2013
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Softlogic Equity Research Page | 6
money and repo rates remained steady at 8.50% and 8.09% respectively with surplus liquidity increasing to
LKR12.35 bn. The Open Market Operations (OMO) department of Central Bank drained an amount of LKR
8.73 bn at a weighted average of 7.69% by way of an overnight Repo auction. Furthermore, the CBSL also
drained a further LKR5 bn by way of a term Treasury bill auction with durations of 17 and 31 days, value 11
June. The 17-day bill fetched a weighted average of 8.25%, while the weighted average of the 31-day bill was
8.49%
[Source: www.ft.lk]
Hemas - Thailands Minor in USD70 mn hotel project: Sri Lankas Hemas Holdings [HHL:LKR37.0], a family-run conglomerate with a strong presence in FMCG and healthcare sectors has embarked on to develop 3
new hotel properties in partnership with Thai-based Minor Group, a top official of the firm said. Hemas
Holdigns Chief Executive Husein Esufally told shareholders that the 3 properties located in Southern Sri
LankaTangalle, Kalutara and Ambalangoda will be developed at a cost of USD70 mn and branded under
Avani and Anantara brands of Minor Group. Hemas portfolio of hotel properties includes Club Hotel
Dolphin, Hotel Sigiriya, Avani Bentota Resort and Spa and Avani Kalutara Resort and has a room strength of
410.
[Source: www.dailymirror.lk]
Global News
U.K. Industrial Output Increased on Mining in April: Economy: U.K. industrial production unexpectedly rosein April, boosted by increased output at oil and water companies. Manufacturing fell after gains in February
and March. Output at factories, utilities and mines rose 0.1% from March, the Office for National Statistics
said today in London. The median forecast of 28 economists in a Bloomberg News survey was for no change.Manufacturing dropped 0.2% after gains averaging 0.9% in the previous two months. Industrial output
posted its strongest quarterly performance in almost three years through April, adding to signs the economy
is gaining momentum after returning to growth in the first quarter. Surveys by Markit Economics published
this month showed services and manufacturing were at the highest in 14 months in May. The euro area,
Britains largest trading partner, is also showing signs of improvement, with European Central Bank President
Mario Draghi saying last week the regions economy will return to growth by the end of the year. The U.K.
economy can and will get better, said Rob Wood, an economist at Berenberg Bank in London. Todays
industrial production data suggest the sector will contribute positively to growth in the second quarter.
[Source: www.bloomberg.lk]
U.K. RICS House-Price Index Reaches 3-Year High on Buyer Revival: A U.K. house-price gauge rose in May toa three-year high as government credit-easing programs revived buyer interest across the country, the Royal
Institution of Chartered Surveyors said. A price index increased to 5 from 1 in April, London-based RICS said
in an e-mailed report today, citing a monthly poll of property surveyors. A positive number means more
respondents saw values increase rather than decline. Measures of new buyer enquiries and newly agreed
sales reached levels last seen in 2009. The improvement largely reflects the Bank of Englands expanded
Funding for Lending Scheme, which is designed to ease the flow of credit by lowering bank funding costs.
Chancellor of the Exchequer George Osbornes Help to Buy initiative to help people struggling to raise a
deposit is also contributing, RICS said. Mortgage approvals are still about half of what they were before the
financial crisis struck the U.K. in 2007. There is still a very long way to go until we see a full-scale recovery
but green shoots are beginning to sprout, Peter Bolton King, global residential director at RICS, said in the
report. A measure of new buyer enquiries rose to 30 from 27 and newly agreed sales jumped to 30 from 21,adding to the improved picture of buyer interest, RICS said. A three-month price expectation measure
increased to 20 from 12. Respondents expect house prices to rise 1.4% over the next 12 months, up from
expectations of 1.1% last month and 0.1% in December.
[Source: www.bloomberg.lk]
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Softlogic Equity Research Page | 7
Softlogic Equity ResearchDimantha Mathew
[email protected]+94 11 7277030
Kavindu Ranasinghe
+94 11 7277031
Imalka Hettiarachchi
+94 11 7277032
Softlogic Equity SalesBranches
Horana
Madushanka Rathnayaka
No. 212, 1st
Floor, Panadura Road, Horana
+94 34 7451000, +94 77 3566465
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+94 31 2224714-5, +94 77 3569827
Kurunegala
Bandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
+94 37 2232875, +94 77 3615790
MataraLalith Rajapaksha
No.8A, 2nd
Floor, FN Building, Station Road, Matara
+94 41 7451000, +94 77 3031159
Dihan Dedigama
+94 11 7277010, +94 77 7689933
Chandima Kariyawasam
[email protected]+94 11 7277058, +94 77 7885778
Sonali Abayasekera
+94 11 7277051, +94 77 7736059
Thanuja De Silva
+94 11 7277059, +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 verified 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 a ny 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
they are based before the materialized disseminated to their customeLKRNot all customers will receive the material at the same time. Softlogic Stockbrokers, their
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 t o make a purchase and/or sale of any
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may make markets in securities or other financial instruments described in this publication, in securities of issuers described here in or in securities underlying or
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