Tag Archives: Stock brokers in Sri Lanka

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 17.06.2018

Stock Market Sri Lanka

First Capital’s Atchuthan Srirangan with the Market Review 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.

Weekly Government Securities Market – 14-06-2018

Stock Market Sri Lanka

Sri Lankan stocks near 6-month closing low on foreign selling

ATCHUTHAN SRIRANGAN, ASSISTANT  MANAGER – RESEARCH AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

JUNE 14, 2018

COLOMBO, June 13 (Reuters) – Sri Lankan shares ended lower for a sixth straight session on Wednesday to hit their lowest closing in nearly six months, as foreign investors sold banking shares such as Commercial Bank of Ceylon Plc.

The Colombo stock index ended 0.17 percent weaker at 6,337.88, its lowest close since Dec. 22. The index dropped 0.7 percent last week, marking its third straight weekly fall.

Foreign investors net sold 213.2 million rupees ($1.34 million) worth of equities on Wednesday, extending the year-to-date net foreign outflow to 741.1 million rupees worth of shares.

“The market is down with foreign selling,” said Atchuthan Srirangan, assistant manager – research, First Capital Holdings Plc.

“We saw some foreign selling in Commercial Bank, which brought the index down. The rupee depreciation also affected foreign investors.”

Shares in Distillers Company of Sri Lanka Plc closed 2.3 percent weaker, while Lanka ORIX leasing Company Plc ended down 3.3 percent, conglomerate John Keells Holdings Plc ended 0.2 percent lower and biggest listed lender Commercial Bank of Ceylon ended 0.2 percent down.

Most investors have adopted a wait-and-watch approach, hoping for some positive news on the economic front, analysts said.

Turnover stood at 459.8 million rupees, half of this year’s daily average of 964.6 million rupees.

A weaker rupee, political uncertainty and the recent fuel price hike weighed on sentiment in the past few weeks with local investors remaining on the sidelines as they gauged the impact of the floods last month, brokers said.

The Sri Lankan rupee slipped to a fresh all-time low of 159.80 per dollar on Monday, pulled down by a lack of support for the local currency from exporters.

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 10.06.2018

Stock Market Sri Lanka

First Capital’s Atchuthan Srirangan with the Market Review 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.

Weekly Government Securities Market – 07-06-2018

Treasury_Bills_and_Bonds

First Capital records highest ever PAT of Rs. 1.96 billion in 17/18

Nishan Fernando: Chairman First Capital

Colombo 30 May 2018:  First Capital Holdings PLC (The Group) the only listed investment bank in Sri Lanka, recorded its highest ever Consolidated Profit after Tax of Rs 1,960Mn for the year 2017/18, marking a milestone in the investment bank’s history.

The results show a significant growth compared to Rs. 232Mn in 2016/17. First Capital, with its impressive 35 year history, has total assets of Rs.35Bn and Equity in excess of Rs. 3.5Bn.

Dilshan Wirasekara: Director/CEO – First Capital

The Group recorded a total comprehensive income of Rs 1,866Mn for the year, a healthy increase from Rs. 238Mn recorded in 2016/17.  First Capital’s performance includes recognition of a deferred tax asset amounting to Rs. 897Mn (2017/18) in accordance to LKAS 12.

The Group’s primary dealer contributed Rs. 1,668Mn Profit after Tax (including recognition of a deferred tax asset of Rs. 845Mn) for the year, bolstered by opportunities derived through secondary market activities, the business displayed an impressive performance.

The corporate finance division, mobilized Rs. 24Bn through the structuring and placement of corporate debt securities. Increasing its contribution to the Group’s profitability, the business reported a total fee income of Rs. 80Mn for the year.

The asset management division, increased its assets under management by Rs. 2.1Bn in 2017/18, demonstrating a positive impact to the Group’s bottom line, with a total fee income of Rs. 38Mn.

The Group’s stock brokering unit, recorded an income of Rs. 78Mn for the financial year.

First Capital also made investments to enhance its regional presence through the expansion of its branch network to Negombo; in addition to fully-fledged branches operating in Matara, Kandy and Kurunegala.

The credit rating of SL [A-] with a stable outlook for First Capital Holdings PLC and First Capital Treasuries PLC were re-affirmed by ICRA Lanka Limited.

In March 2018, First Capital Holdings PLC declared a dividend payment of Rs. 2/- per share totaling Rs. 202.5Mn for 2017/18.

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.

 

End

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 20.05.2018

Stock Market Sri Lanka

First Capital’s Atchuthan Srirangan with the Market Review 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 Lankan shares close slightly higher; foreigners buy

DIMANTHA MATHEW, HEAD OF RESEARCH AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

MAY 23, 2018

COLOMBO, May 22 (Reuters) – Sri Lankan shares closed slightly stronger on Tuesday, driven by telecom stocks and as foreign investors continued to buy the island nation’s equities.

However, investors were cautious as they waited for some cues about the real impacts of floods, brokers said.

Heavy monsoon rains have killed eight people, prompting authorities to warn against landslides and floods in low-lying areas after spill gates had to be opened across the Indian Ocean island.

The Colombo stock index ended 0.1 percent firmer at 6,472.25, edging up from its lowest close since May 15 hit on Monday.

Foreign investors, who have been net sellers of shares worth 573.5 million rupees ($3.63 million) so far this year, net bought equities worth 73.3 million rupees on Tuesday. They net purchased shares worth 152 million rupees on Monday.

“Some block deals pushed the turnover today. Other than that the market was very dull as investors were on the sidelines to asses the real impact of the floods,” said Dimantha Mathew, head of research, First Capital Holdings.

Shares of Dialog Axiata Plc rose 2.8 percent, Distilleries Company of Sri Lanka Plc ended 0.9 percent higher and Sri Lanka Telecom Plc closed 1.6 percent firmer.

Turnover was 777.4 million rupees, less than this year’s daily average of 991.1 million rupees.

Stock brokers said investors also waited for more clarity on the political and economic front amid recent fuel price hike, while the depreciation in rupee also weighed on sentiment.

The rupee hit a fresh low of 158.50 per dollar on Wednesday on importer demand for the U.S. currency.

Analysts said concerns over political instability following President Maithripala Sirisena’s decision to suspend the parliament last month after 16 legislators from his ruling coalition defected, dented market sentiment.

On May 8, Sirisena urged his own coalition government and the opposition to end a power struggle to achieve ambitious goals including anti-corruption measures. ($1 = 157.8500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Weekly Government Securities Market – 18-05-2018

Stock Market Sri Lanka

Secondary market yield curve shifted upwards throughout the week and selling interest was seen actively on the 2019 maturities this past week. At the Primary bill auction 1-Yr bill saw its yield increasing by 5bps and the 3M bill was accepted at 8.33% nad its yield increased by 22bps. Despite being offered, the 6M bills was rejected for the twelth consecutive week. Overall market witnessed moderate volumes.


Liquidity & CBSL Holdings

CBSL Holdings was on a constant level throughout the week at LKR 50.5Bn.
Foreign Interest

Foreign holding decreased by LKR 4.1Bn to record at LKR 315Bn. Meanwhile, the overall government securities improved however, the overall foreign holding percentage dropped to 6.2%.
Maturities for next Week
The Government securities market has Treasury Bill maturity amounting to LKR 28.0Bn.

Sri Lankan shares close little changed, but post third weekly fall

ATCHUTHAN SRIRANGAN, ASSISTANT  MANAGER – RESEARCH AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

May 14, 2018

COLOMBO, May 11 (Reuters) – Sri Lankan shares closed little changed on Friday as most investors stayed on the sidelines to see the real impact of a hike in fuel prices, brokers said.

State-run fuel retailer Ceylon Petroleum Corp (CPC) raised retail prices for gasoline and diesel from Thursday midnight in response to rising oil prices.

The Colombo stock index fell for a fifth straight session and ended 0.01 percent weaker at 6,478.87, its lowest close since April 11. The index lost 0.4 percent this week, in its third straight weekly fall.

“Most of the investors were on the sidelines waiting to see the real impact of the fuel price increase,” said Atchuthan Srirangan, assistant manager-research at First Capital Holdings PLC.

“Though the fuel price increase was expected, it could impact the bottom lines of manufacturing and transportation companies directly, while it will also push inflation and other costs, and could impact other companies too.”

The market shrugged off the central bank’s policy decision earlier in the day as it was widely expected, said Srirangan.

The central bank kept its key policy rates steady, a little more than a month after it unexpectedly cut the main lending rate, forecasting a modest recovery in the economy this year after growth slumped to a 16-year low in 2017.

Analysts said the depreciation of rupee also weighed on investor sentiment as it is likely to hit profits of some listed firms that rely heavily on imports.

The rupee hit a fresh low last week on importer demand for the U.S. currency.

Shares of BRAC Lanka Finance Plc fell 23.4 percent, Dialog Axiata Plc dropped 1.4 percent and conglomerate John Keells Holdings Plc ended down 0.2 percent.

Fitch Ratings has said that recent political developments in Sri Lanka have created some uncertainty over reform momentum and fiscal consolidation, and prolonged upheaval could undermine investor confidence ahead of large external debt maturities in 2019-22.

Sri Lankan President Maithripala Sirisena on Tuesday urged his own coalition government and the opposition to end a power struggle in order to achieve ambitious goals including anti-corruption measures.

Turnover stood at 769.5 million rupees ($4.88 million), less than this year’s daily average of 1.03 billion rupees. Foreign investors net bought 24.3 million rupees worth of equities on Friday, but the market has seen a net foreign outflow to 335.4 million rupees worth of equities so far this year. ($1 = 157.8000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)