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MARKET UPDATE ON ADA DERANA ENGLISH NEWS – 17.09.2017

Stock-Brokers-in-Sri-Lanka

First Capital’s Hansanee Baddage with the market update – between 19.31 mins to 19.58 mins

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 shrs end near 3-wk closing high; turnover highest in over 6 yrs

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 15, 2017

COLOMBO, Sept 15 (Reuters) – Sri Lankan shares rose for a second straight session on Friday and ended at a near three-week closing high, while a block deal in Singer Sri Lanka Plc pushed turnover to over a six-year high.

The Colombo stock index ended 0.32 percent firmer at 6,402.03, its highest close since Aug.28.

The bourse rose 0.4 percent during the week, ending an eight-week long losing streak.

On Wednesday after market hours, diversified conglomerate Hayleys Plc said it had agreed to purchase 61.73 percent of Singer Sri Lanka Plc for 10.9 billion rupees from Retail Holdings (Sri Lanka) BV a subsidiary of Retail Holdings NV.

Hayleys in a corporate disclosure said on Friday that Hayleys Plc and its subsidiaries purchased 231.9 million shares or 61.73 percent of Singer Sri Lanka Plc at a price of 47 rupees per share.

Singer Sri Lanka saw foreign investor selling of 231.9 million shares and ended 0.4 percent lower. It accounted for 95.2 percent of the day’s turnover of 11.4 billion rupees, the highest since March 16, 2011 and well above this year’s daily average of around 921 million rupees.

Foreign investors net sold 10.8 billion rupees worth of shares on Friday, but they have been net buyers of 16.9 billion rupees worth of equities so far this year.

“We could see buying interest coming into the market after the Hayleys deal,” said Dimantha Mathew, head of research, First Capital Holdings.

“It reactivated local investor confidence and the market is getting stronger day by day.”

Shares of Commercial Bank of Ceylon Plc rose 1.6 percent while conglomerate John Keells Holdings Plc gained 0.7 percent and Lanka ORIX Leasing Company Plc closed 1.6 percent higher.

Hayleys Plc ended 0.04 percent lower. ($1 = 152.9500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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 little changed; tax bill weighs on market

FIRST CAPITAL’S SENIOR RESEARCH ANALYST ATCHUTHAN SRIRANGAN SPEAKS TO REUTERS

SEPTEMBER 13, 2017

COLOMBO, Sept 13 (Reuters) – Sri Lankan shares closed little changed on Wednesday as local investors wait to see the real impact of the new tax bill, brokers said.

The Colombo stock index ended 0.07 percent weaker at 6,372.70. It fell 0.2 percent last week, its eighth straight weekly drop.

“Market is holding on with some crossings (block deals) in blue chips,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC.

“Local investors are staying away as they are waiting to see the clarity on the new tax bill, while foreign investors are selling.”

The parliament passed tax reforms on Thursday that should simplify the tax system, widen the tax base and increase government revenue, as agreed with the International Monetary Fund in exchange for a $1.5 billion, three-year loan.

Foreign investors, who have been net buyers of 27.6 billion rupees ($180.45 million) worth equities so far this year, net sold 35.8 million rupees worth of shares on Wednesday.

Turnover was 627.3 million rupees, less than this year’s daily average of around 862.1 million rupees.

Shares of diversified conglomerate Hemas Holdings Plc fell 1.6 percent, Lanka ORIX Leasing Co Plc ended 1.4 percent weaker, Commercial Bank of Ceylon Plc dropped 0.7 percent and Dialog Axiata Plc ended down 1.7 percent.

After market hours diversified conglomerate Hayleys Plc said it had agreed to purchase 61.73 percent of Singer Sri Lanka Plc for 10.9 billion rupees.

The stock exchange had halted trading in Hayleys and Singer shares pending the announcement. ($1 = 152.9500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)

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 end marginally higher; block deals boost turnover

FIRST CAPITAL’S SENIOR HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 12, 2017

COLOMBO, Sept 12 (Reuters) – Sri Lankan shares ended with modest gains on Tuesday as local investors picked up beverage and trading shares, while block deals boosted the turnover to more than a two-month high.

The Colombo stock index ended 0.08 percent firmer at 6,377.38.

The Colombo stock index fell 0.2 percent last week, its eighth straight weekly drop.

Top mobile phone operator Dialog Axiata after market hours said that it acquired 80.34 percent of Colombo Trust Finance for 1.072 billion rupees ($7 million).

Turnover was 2.03 billion rupees ($13.29 million), the highest since June 23 and well above this year’s daily average of around 863.5 million rupees.

“It was a good day and even as the market ended nearly flat, there were a lot of crossings,” said Dimantha Mathew, head of research, First Capital Holdings.

“The good sign is the buying interest from the local side that was lacking for a while was seen today even though the foreigners were net sellers.”

Shares in Dialog Axiata Plc rose 0.9 percent and conglomerate John Keells Holdings Plc ended 0.06 percent firmer.

Shares of Singer Sri Lanka Plc rose 18.2 percent while Ceylon Cold Stores Plc ended 3.2 percent firmer and Ceylon Tobacco Co Plc gained 1 percent.

Foreign investors net sold 155.6 million rupees worth of shares on Tuesday. But they have been net buyers of 27.7 billion rupees worth equities so far this year. ($1 = 152.8000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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 little changed in dull trade; tax bill weighs on mkt

FIRST CAPITAL’S SENIOR HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 11, 2017

COLOMBO, Sept 11 (Reuters) – Sri Lankan shares closed little changed in low turnover on Monday as investors waited for clarity on the new tax bill.

The parliament passed tax reforms on Thursday that should simplify the tax system, widen the tax base and increase government revenue, as agreed with the International Monetary Fund in exchange for a $1.5 billion, three-year loan.

The Colombo stock index ended 0.06 percent weaker at 6,372.24, snapping two straight sessions of gains.

Turnover was 290.8 million rupees ($1.90 million), the lowest since Aug. 28 and well below this year’s daily average of around 856.5 million rupees.

The Colombo stock index fell 0.2 percent last week, its eighth straight weekly drop.

“Investors are still waiting to see the clarifications on the tax bill and the exact implications of the bill,” said Dimantha Mathew, head of research, First Capital Holdings.

Shares of Ceylon Tobacco Co Plc fell 0.6 percent, while Overseas Realty Ceylon Plc ended 2.67 percent weaker.

Foreign investors net bought 49.4 million rupees worth of shares, extending the year-to-date net foreign inflow to 27.8 billion rupees worth equities. ($1 = 152.7500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)

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.

MARKET UPDATE ON ADA DERANA ENGLISH NEWS – 10.09.2017

Stock-Brokers-in-Sri-Lanka

First Capital’s Senior Research Analyst Atchuthan Srirangan with the market update – between 23.02 mins to 23.42 mins.

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 end higher on foreign buying; tax bill weighs

FIRST CAPITAL’S SENIOR RESEARCH ANALYST ATCHUTHAN SRIRANGAN SPEAKS TO REUTERS

SEPTEMBER 8, 2017

COLOMBO, Sept 8 (Reuters) – Sri Lankan shares posted their second straight session of gains on Friday, further moving away from the lowest close in more than four months hit this week, as foreign investors picked up beaten down shares.

The Sri Lanka parliament on Thursday passed tax reforms that should simplify the tax system, widen the tax base and increase government revenue, as agreed with the International Monetary Fund in exchange for a $1.5 billion, three-year loan.

The Colombo stock index ended 0.22 percent higher at 6,375.86.

The bourse fell 0.2 percent during the week, its eight straight weekly fall. As of Friday’s close, it shed 4.4 percent since July 27.

Shares of Ceylon Cold Stores Plc ended 1.6 percent higher, while Asiri Hospitals Plc closed up 6 percent, Browns Investments Plc closed 6.5 percent higher and Dialog Axiata Plc ended 0.9 percent firmer.

Foreign investors net bought 78.8 million rupees ($516,044.53) worth of shares, extending the year-to-date net foreign inflow to 27.8 billion rupees worth equities.

“We have seen active participation of foreign investors after the inland revenue bill was passed,” said Atchuthan Srirangan, senior research analyst, First Capital Holdings PLC.

“We are seeing buying interest in blue chips. We expect market to see more active participation from both local and foreigners next week onwards,” he added.

The bill, Sri Lanka’s major tax reform since independence from Britain in 1948, seeks to expand the tax net and stamp out evasion.

Turnover stood at 688.1 million rupees, less than this year’s daily average of around 859.9 million rupees.

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 recover from 4-1/2-month low on foreign buying

FIRST CAPITAL’S SENIOR HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 7, 2017

COLOMBO, Sept 7 (Reuters) – Sri Lankan shares on Thursday edged up from their lowest close in more than four months hit in the previous session, as foreign investors bought battered shares.

The Colombo stock index ended 0.02 percent higher at 6,362.18, recovering from its lowest close since April 17 hit on Wednesday.

The bourse ended 0.3 percent lower last week, its seventh straight weekly fall. As of Wednesday’s close, it shed more than 4.6 percent since July 27.

Shares of Lanka ORIX Leasing Company Plc ended 6.7 percent higher, while Ceylon Cold Stores Plc closed up 1.0 percent and Melstacorp Ltd ended 0.9 percent firmer.

Foreign investors net bought 332.1 million Sri Lankan rupees ($2.18 million) worth of shares, extending the year-to-date net foreign inflow to 27.7 billion rupees worth equities.

“Market is up with some foreign buying,” said Dimantha Mathew, head of research, First Capital Holdings.

“The market is slow as investors are waiting to see the direction.”

Mathew said investors are waiting to see the clarity on taxes following the Inland Revenue Bill and also waiting to see the outcome of the U.S Fed rate announcement.

The bill, Sri Lanka’s major tax reform since independence from Britain in 1948, seeks to expand the tax net and stamp out evasion. It is expected to be presented in the parliament on Sept. 7.

Turnover stood at 627.6 million rupees, less than this year’s daily average of around 860.9 million rupees.

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 hit 4-1/2-month closing low

FIRST CAPITAL’S SENIOR HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 6, 2017

COLOMBO, Sept 6 (Reuters) – Sri Lankan shares closed at their lowest in more than four months on Wednesday, with foreign investors selling risky assets in lacklustre trade, while the daily turnover got a boost from block trades.

The Colombo stock index resumed trade after a holiday, ended down 0.38 percent at 6,361.03, its lowest close since April 17.

The country’s stock and foreign exchange markets were closed on Friday and Tuesday for religious holidays.

The bourse ended 0.3 percent lower last week, its seventh straight weekly fall. As of Wednesday’s close, it has shed more than 4.6 percent since July 27.

Shares of Sri Lanka Telecom Plc ended 3.3 percent down, while Trans Asia Hotel Plc closed 9.4 percent lower and the biggest-listed lender Commercial Bank of Ceylon Plc ended 0.4 percent weaker.

Foreign investors net sold 263.8 million Sri Lankan rupees ($1.73 million) worth of shares, but they have net bought 27.4 billion rupees worth equities so far this year.

“Another slow day. Investors are looking for direction and staying away,” said Dimantha Mathew, head of research, First Capital Holdings.

Mathew said investors are waiting to see the clarity on taxes following the Inland Revenue Bill.

The bill, Sri Lanka’s major tax reform since independence from Britain in 1948, seeks to expand the tax net and stamp out evasion. It is expected to be presented in the parliament on Sept. 7.

Turnover stood at 1.5 billion Sri Lankan rupees ($9.83 million), well above this year’s daily average of around 862.4 million rupees.

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 end near two-week low ahead of holiday

FIRST CAPITAL’S SENIOR HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 4, 2017

COLOMBO, Sept 4 (Reuters) – Sri Lankan shares fell to a near two-week low on Monday as investors sold diversified and telecom shares in lacklustre trade ahead of a holiday, while the daily turnover got a boost from block trades.

The Colombo stock index resumed trade after a holiday on Friday and ended 0.08 percent down at 6,385.56, its lowest close since Aug.24. The country’s stock and foreign exchange markets will remain closed on Tuesday for a religious holiday.

The bourse ended 0.3 percent lower last week, its seventh straight weekly fall. It has shed more than 4 percent since July 27 up to Monday’s close.

Shares of Dialog Axiata Plc fell 0.9 percent and diversified conglomerate Hemas Holdings Plc ended 1.1 percent weaker.

“Things were very dull and it was a very slow day. Thanks to some block deals we saw healthy turnover,” said Dimantha Mathew, head of research at First Capital Holdings. “The positive sign is that there were some buying interest in blue chips.”

“Investors are waiting to see the tax confirmation following the Inland Revenue Bill,” Mathew said.

The bill, Sri Lanka’s major tax reform since independence from Britain in 1948, seeks to expand the tax net and stamp out evasion. It is expected to be presented in the parliament on Sept. 6.

Turnover stood at 923.2 million Sri Lankan rupees ($6.06 million), more than this year’s daily average of around 858.4 million rupees. ($1 = 152.3500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)

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.