stock market sri lanka

Sri Lankan stocks hold steady; Ceylon Tobacco falls


SEPTEMBER 27, 2017

COLOMBO, Sept 27 (Reuters) – Sri Lankan stocks ended flat on Wednesday as the gains driven by manufacturing shares were offset by losses mainly in beverage companies.

The Colombo stock index ended 0.12 points weaker at 6,419.47.

Shares of Ceylon Tobacco Company Plc fell 2.9 percent, while biggest listed lender Commercial Bank of Ceylon Plc ended 1.01 percent down.

Richard Pieris Plc rose 14.4 percent and Sri Lanka Telecom Plc ended 2.1 percent firmer.

Turnover stood at 738.3 million rupees ($4.82 million), compared with this year’s daily average of about 916 million rupees.

Analysts said block deals boosted the day’s turnover.

“Block deals on blue chips are continuing,” said Dimantha Mathew, head of research at First Capital Holdings.

“The retail interest on the plantation sector continued, but that does not reflect in the overall index as the contribution is very low.”

Foreign investors bought a net 86.9 million rupees worth of shares on Wednesday extending the year-to-date net foreign inflow to 17.7 billion rupees worth of equities.

On Tuesday, the Sri Lankan central bank held its key rates steady, saying past steps were keeping inflation and credit growth under control, as policymakers focus on supporting an economy hit by extreme weather.

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.