Tag Archives: asset management sri lanka

Dimantha Mathew, Head of Research at First Capital Holdings, Commenting on the Bond and the Equity Market Performance on Ada Derana – 07.02.2019

Investment in Sri Lanka

First Capital’s Dimantha Mathew Commenting on the Bond and the Equity Market Performance on Ada Derana

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’s Dimantha Mathew with the Market Review on Ada Derana

First Capital is an investment bank offering independent advice and transaction execution relating to capital raising and other strategic needs including mergers and acquisitions for investment in Sri Lanka. The Company’s industry leading transactions are reflective of the ingenuity in enabling the most opportune financing processes for our clients. First Capital’s services for investment in Sri Lanka include a total service for public offers of corporate debt, acting in the capacity of managers/ financial advisors and placement agents, in addition to due diligence, pre-offer preparation, offer management, distribution strategy and after-market advisory services, initial public offerings, secondary offerings such as rights issues, corporate actions including mandatory and voluntary offers, private placements and at-market placements of listed securities.

Dimantha Mathew, Head of Research at First Capital Holdings, Commenting on the Bond and the Equity Market Forecast on Ada Derana – 03.02.2019

Stock Brokers in Sri Lanka

First Capital’s Dimantha Mathew Commenting on the Bond and the Equity Market Performance on Ada Derana

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’s Dimantha Mathew with the Market Review on Ada Derana

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.

First Capital is an investment bank offering independent advice and transaction execution relating to capital raising and other strategic needs including mergers and acquisitions for investment in Sri Lanka. The Company’s industry leading transactions are reflective of the ingenuity in enabling the most opportune financing processes for our clients. First Capital’s services for investment in Sri Lanka include a total service for public offers of corporate debt, acting in the capacity of managers/ financial advisors and placement agents, in addition to due diligence, pre-offer preparation, offer management, distribution strategy and after-market advisory services, initial public offerings, secondary offerings such as rights issues, corporate actions including mandatory and voluntary offers, private placements and at-market placements of listed securities.

 

Hiruni Perera, Senior Research Analyst, at First Capital Holdings PLC commenting on the equity market performance on Ada Derana – 30.01.2019

Stock Brokers in Sri Lanka

Hiruni Perera, Senior Research Analyst, at First Capital Holdings PLC commenting on the bond and the equity market performance on Ada Derana

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.

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings PLC commenting on the bond and the equity market performance on Ada Derana – 29.01.2019

Share Market Investment in Sri Lanka

First Capital’s Atchuthan Srirangan at First Capital Holdings PLC commenting on the bond and the equity market performance on Ada Derana

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

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.

Dilshan Wirasekara CEO/Director of First Capital discussing about the investment banking industry, booming sectors in the industry,and the Stock market behavior with current political stability on Biz Journal – Ada derana BIZ 18-01-2019

Stock Brokers in Sri Lanka

Amanda Lokugamage, Senior Research Analyst at First Capital Holdings, Commenting on the Bond and the Equity Market Performance on Ada Derana – 21.01.2019

Stock Brokers in Sri Lanka

Amanda Lokugamage, Senior Research Analyst at First Capital Holdings, Commenting on the Bond and the Equity Market Performance on Ada Derana

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.

Hiruni Perera, Senior Research Analyst, at First Capital Holdings PLC commenting on the equity market forecast on Ada Derana – 06.01.2019

Stock Brokers in Sri Lanka

Hiruni Perera, Senior Research Analyst, at First Capital Holdings PLC commenting on the bond and the equity market performance on Ada Derana

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.

Sri Lanka GDP, CPI Outlook Lowered Through 2019

2019-01-11 06:00:00.6 GMT
By Cynthia Li

(Bloomberg) — Economists slashed Sri Lanka growth forecasts for this year after the economy grew at the slowest pace in five quarters, according to the latest quarterly survey conducted by Bloomberg News.

The biggest revisions were for the first and second quarters, both cut by 1.3 percentage points to 3.3 percent and 4 percent respectively. Growth in 2019 overall is expected to average 4 percent, down 0.3 percentage point from last quarter’s survey.

Economists lowered their first quarter inflation forecast by 1.7 percentage point, and also cut estimates for the rest of the year, bringing the annual average to 4.3 percent from 5 percent seen in the October survey. This matches with the central bank’s projection of average inflation to “remain below 5 percent in 2019 and stabilize in the range of 4-5 percent thereafter with appropriate policy adjustments.”

The Central Bank of Sri Lanka is working to implement a flexible inflation targeting framework this year to maintain price stability and drive economic growth.

Benchmark rates are expected to remain unchanged at least until the end of the first quarter of next year, the same poll shows. Some economists said that the economy will stabilize sooner than expected.

“With the slowness in economic growth, once the macro picture stabilizes, we expect two rate cuts during the year 2019 with 25 basis points each,” said Dimantha Mathew, head of research at First Capital Holdings in Colombo.

Weekly Government Securities Market -11-01-2019

Stock Brokers in Sri Lanka

By First Capital Research
Weekly Yield movement & Volume

The secondary market yield curve remained almost unchanged, while moderate volumes were seen during the week.
Despite the continuous depreciation witnessed in previous weeks, currency was seen stabilising around Rs 182.0 levels, closing at Rs 182.8 relative to Rs 182.9 at the beginning of the week.
Meanwhile, CBSL announced its plan for a US$ 400 million swap arrangement with the Reserve Bank of India, with a request for a further US$ 1.0 billion being under consideration, to maintain an adequate level of reserves and support the currency.
At the primary bill auction held on 9 January, yields of the six-month and one-year bills were accepted at 9.94% and 10.85% respectively, recording a continuous dip for the third consecutive week in both maturities.

Meanwhile, first bond auction of the year will be held on 11 January offering Rs 98.0 billion.


Liquidity & CBSL Holdings

CBSL market liquidity remained negative throughout the week, recording the lowest liquidity for the week on 04 January amounting to Rs 121.1 billion. CBSL holdings declined towards the latter part of the week and recorded at Rs 68.56 billion.


Foreign Interest

Foreign holding was recorded at Rs 157.8 billion, recording a drop of Rs 6.6 billion, continuing the foreign selling since August 2018. Foreign holding percentage for the week remained stable at 3.1%.


Maturities for next Week

The Government Securities Market has a Treasury Bill maturity amounting to Rs 18.7 billion to be settled and coupon payment amounting to Rs 12.9 billion for the week ending 18 January.


Daily Summary

Thursday (03.01.19): Secondary market yield curve remained broadly unchanged, while the overall market witnessed thin volumes with limited activity levels. Amidst profit taking, limited activity was witnessed on short-tenure maturities [01.03.21] and [01.05.21] trading at 11.30%, [15.12.21] at 11.35-11.40% levels, while long-tenure maturities [01.08.26] at 11.62-11.67% levels and [15.06.27] at 11.70%.
Friday (04.01.19): On the back of buying interest, short and belly end of the yield curve shifted slightly downwards while the overall market witnessed thin volumes. The one-year bill traded at the day’s lowest of 10.74% amidst the buying interest stemmed predominantly from the foreign counterparties, while three 2021 maturities, [01.03.21], [01.08.21] and [15.12.21] traded at intraday low of 11.22%, 11.25% and 11.28% respectively. Mid-tenure maturities were seen reaching day’s lowest, with [15.05.23] trading at 11.30%, [15.05.25] at 11.63% and [01.08.26] at 11.59%.
Monday (07.01.19): The secondary market yield curve remained broadly unchanged while the overall market witnessed thin volumes. Limited activities were witnessed on short- to mid-tenure maturities with [01.05.20] trading at 11.00%, three 2021 maturities ([01.03.21], [01.05.21] and [15.12.21]) trading between 11.17-11.27% range and [01.10.22] at 11.35%.
Out of the mid-tenors, the three 2023 maturities ([15.05.23], [15.07.23] and [01.09.23]) traded at 11.45%, 11.47% and 11.58% respectively, while [15.03.25] changed hands at 11.67% and [01.08.26] at 11.60%. CBSL has offered Rs 8.0 billion of the six-month and Rs 12 billion of the one-year bills at Wednesday’s primary bill auction.
Tuesday (08.01.19): The secondary market yield curve remained broadly steady, with mixed activities on the short end and belly end of the curve. With the selling interest stemming from foreign counterparties, mid-tenure maturities [01.08.24], [15.03.25] and [01.08.26] traded at day’s high of 11.60%, 11.75-11.80% levels and 11.60-64% levels while ahead of the bill auction.
Buying interest from local counterparties were witnessed on short-tenure maturities [01.05.20] at 10.90-85%, [01.03.21] at 11.25-20% and [15.12.21] at 11.30%, while the overall market saw moderate volumes. CBSL announced bond auction on 11 January, offering Rs 48 billion of new series of [15.12.2023] maturity and Rs 50 billion of [01.09.2028] maturity.
Wednesday (09.01.19): The secondary market yield curve continued to remain broadly steady as market participants were seen remaining on the sideline, adopting a wait-and-see approach ahead of the primary bond auction on 11 January. Limited activity was witnessed on short- to mid-tenure maturities while the overall market witnessed thin volumes.
Short-tenure maturities [01.05.20] traded at 10.90% and three 2021 maturities ([01.03.21], [01.08.21] and [15.12.21]) traded at 11.25%, 11.28% and 11.33% respectively, while mid-tenure maturities 15.07.23 traded at 11.50% and foreign selling was witnessed on [15.03.25] at 11.75%. At the primary bill auction, yields of the six-month and one-year dipped by 1bps and 14bps to be accepted at weighted averages of 9.94% and 10.85% respectively.

Nisansala Kuruppumudali, Research Analyst at First Capital Holdings PLC, commenting on the bond and the equity market performance on Ada Derana – 07.01.2019

Stock Brokers in Sri Lanka

First Capital’s Nisansala Kuruppumudali commenting on the bond and the equity market performance on Ada Derana

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 providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.