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Sri Lankan stocks edge higher from 8-week low

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

MARCH 27, 2018

COLOMBO, March 26 (Reuters) – Sri Lankan shares crawled higher on Monday from their lowest close in more than eight weeks as blue chip stocks gained, but negative sentiment over the island nation’s slower economic growth weighed on the market.

The Colombo stock index closed 0.08 percent firmer at 6,448.60, edging up from its lowest close since Jan. 24 hit on Friday.

The bourse fell 1 percent last week, its fourth straight weekly drop.

Sri Lanka’s economy grew by 3.1 percent in 2017, the slowest pace in 16 years and well below the 4.5 percent seen in 2016, revised government data released last week showed.

Investors are waiting for the central bank’s interest rate decision in April, said Dimantha Mathew, head of research, First Capital Holdings.

Turnover was 1.6 billion rupees ($10.3 million), more than this year’s daily average of around 956.6 million rupees.

Shares in conglomerate John Keells Holdings Plc rose 0.8 percent, while Ceylinco Insurance Plc ended 2.3 percent firmer and biggest listed lender Commercial Bank of Ceylon Plc gained 0.1 percent.

Foreign investors sold a net 354.9 million rupees worth of shares, but they have been net buyers of 6.9 billion rupees worth of equities so far this year

Analysts said an increase in retail fuel prices also weighed on investor sentiment.

Sri Lankan fuel retailer Lanka IOC Plc raised retail prices for gasoline and diesel, the company said on Saturday, due to losses incurred after the government’s failure to implement a pricing formula. ($1 = 156.1000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Amrutha Gayathri)

Atchuthan Srirangan, Senior Research Analyst at First Capital Holdings, with the Market Review on Ada Derana – 25.03.2018

 

Share 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 stocks slip to over 8-week closing low; lower economic growth weighs

ATCHUTHAN SRIRANGAN, SENIOR RESEARCH ANALYST AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

FEBRUARY 26, 2018

COLOMBO, March 23 (Reuters) – Sri Lankan shares slipped to their lowest close in more than eight weeks on Friday, led by beverage and telecom stocks as investors remained worried about the island nation’s slower economic growth, brokers said.

The Colombo stock index closed 0.12 percent lower at 6,443.75, marking its fourth session of fall in five. It fell 1 percent this week, in its fourth straight weekly drop.

Sri Lanka’s economy grew by 3.1 percent in 2017, the slowest pace in 16 years and well below the 4.5 percent seen in 2016, revised government data released on Tuesday showed.

“The market is moving sideways as investors are on the sidelines due to concerns over lower growth. They are also awaiting directions from the policy interest rate decision in April,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings Plc.

Turnover was 953.9 million rupees ($6.11 million), more than this year’s daily average of around 944.8 million rupees.

Shares in Lion Brewery (Ceylon) Plc fell 3.6 percent, Nestle Lanka Plc dropped about 1 percent, Softlogic Holdings Plc slumped 5 percent and Dialog Axiata Plc ended 0.7 percent weaker.

Foreign investors sold a net 58.4 million rupees worth of shares, but they have been net buyers of 7.2 billion rupees worth of equities so far this year. ($1 = 156.0500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lankan stocks extend fall on growth worries

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

MARCH 21, 2018

COLOMBO, March 20 (Reuters) – Sri Lankan shares fell for a second straight session on Tuesday and posted their lowest close in seven weeks in low trade, as investors sold diversified and beverage stocks on worries over slower economic growth, brokers said.

The statistics department withdrew its 2017 full-year and fourth-quarter GDP data on Friday, a day after saying the economy expanded 3.1 percent last year, the slowest pace in 16 years, and 1.4 percent in the fourth quarter.

The Colombo stock index fell 0.48 percent to 6,462.50, its lowest close since Jan. 29. It dropped 0.6 percent last week in its third straight weekly decline.

“It’s a slow day with both local and foreign investors taking a wait-and-see approach,” said Dimantha Mathew, head of research, First Capital Holdings.

He said investors took a pause due to confusion following the withdrawal of GDP data and ahead of the U.S. Federal Reserve’s policy decision.

Turnover was 286.7 million rupees ($1.84 million), the lowest since Feb. 19 and less than a third of this year’s daily average of around 942.3 million rupees.

Shares in conglomerate John Keells Holdings Plc dropped 2.6 percent, Nestle Lanka Plc fell 0.5 percent and Sri Lanka Telecom Plc declined 2.2 percent.

Foreign investors sold a net 27.8 million rupees worth of shares, but they have been net buyers of 7.2 billion rupees worth of equities so far this year. ($1 = 156.0500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Amanda Lokugamage, Senior Research Analyst at First Capital Holdings, with the Market Review on Ada Derana – 18.03.2018

Share market sri lanka

First Capital’s Amanda Lokugamage 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.

Sri Lankan stocks fall to nearly 7-week closing low on growth worries

ATCHUTHAN SRIRANGAN, SENIOR RESEARCH ANALYST AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

FEBRUARY 19, 2018

COLOMBO, March 19 (Reuters) – Sri Lankan shares fell to their lowest close in nearly seven weeks on Monday, as investors sold diversified and manufacturing stocks on worries over slower economic growth, brokers said.

The statistics department withdrew its 2017 full-year and fourth-quarter GDP data on Friday, a day after saying the economy expanded 3.1 percent last year, the slowest pace in 16 years, and 1.4 percent in the fourth quarter.

The Colombo stock index fell 0.24 percent to 6,493.63, its lowest since Jan. 30. It dropped 0.6 percent last week in its third straight weekly decline.

“It’s a dull day as most of investors were on the sidelines and worried over the GDP,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC.

Turnover was 396.5 million rupees ($5.29 million), the lowest since March 7 and well below this year’s daily average of around 966.8 million rupees.

Shares in Vallibel One Plc fell 1.7 percent, Carson Cumberbatch Plc ended 2.8 percent weaker, Sri Lanka Telecom Plc lost 1.4 percent.

Foreign investors bought a net 58.1 million rupees worth of shares, extending the year-to-date net foreign inflow to 7.2 billion rupees worth of equities. ($1 = 155.9500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lankan stocks recover as investors buy select blue chips

ATCHUTHAN SRIRANGAN, SENIOR RESEARCH ANALYST AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

FEBRUARY 19, 2018

COLOMBO, March 16 (Reuters) – Sri Lankan shares rose marginally on Friday, recovering from a one-and-a-half-month closing low hit in the previous session, as investors bought select blue chips in low volumes while lower economic growth weighed on the market.

The statistics department said after markets hours on Thursday that the economy grew at 3.1 percent in 2017 and 1.4 percent in the fourth quarter of last year.

The Colombo stock index rose 0.13 percent to 6,509.46, snapping two consecutive sessions of declines, and edging up from its lowest close since Feb. 1 hit on Thursday.

It dropped 0.6 percent this week in its third straight weekly decline.

“Market is up in low-volume trades in some blue chips,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC, adding that investors were worried about the lower economic growth in 2017.

Turnover was 824.6 million rupees ($5.29 million), lower than this year’s daily average of around 966.8 million rupees.

Shares in conglomerate John Keells Holdings Plc rose 0.9 percent, Carson Cumberbatch Plc gained 5.3 percent, Trans Asia Hotels Plc jumped 6.9 percent and Hemas Holdings Plc edged up 1.6 percent.

Foreign investors bought a net 111.6 million rupees worth of shares, extending the year-to-date net foreign inflow to 7.1 billion rupees worth of equities.

Sri Lankan stocks fall to 1-1/2-month closing low on foreign selling

ATCHUTHAN SRIRANGAN, SENIOR RESEARCH ANALYST AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

FEBRUARY 16, 2018

COLOMBO, March 15 (Reuters) – Sri Lankan shares extended falls on Thursday to a one-and-a-half-month closing low as foreign investors continued to reduce their holdings on expectation of an interest rate hike by the U.S. Federal Reserve at its next meeting.

Foreign investors sold a net 56.7 million rupees ($363,578.07) worth of shares, but they have been net buyers of 7.02 billion rupees worth of equities so far this year.

The Colombo stock index fell for a second straight session and ended 0.28 percent weaker at 6,500.99, its lowest close since Feb.1.

“Some foreigners are exiting because of the fear of Fed rate hike pencilled in March meeting. Till that, we will see some foreign selling,” said Atchuthan Srirangan, a senior research analyst with First Capital Holdings PLC, adding that Sri Lanka saw some outflows before the last two Fed meetings.

Turnover was 806.2 million rupees, lower than this year’s daily average of around 973.3 million rupees.

Shares in Dialog Axiata Plc fell 2.9 percent, while Melstacorp Plc ended 3.7 percent weaker and Ceylon Beverage Holdings Plc dropped 8.9 percent.

Analysts said a communal violence in the central district of Kandy also weighed on sentiment.

Sri Lankan stocks fall on foreign selling

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

MARCH 15, 2018

COLOMBO, March 14 (Reuters) – Sri Lankan shares fell on Wednesday from their highest close in nearly two weeks hit in the previous session, as selling by foreign investors weighed on sentiment, brokers said.

Foreign investors sold a net 183.3 million rupees ($1.18 million) worth of shares, but they have been net buyers of 7.1 billion rupees worth of equities so far this year.

The Colombo stock index ended 0.54 percent weaker at 6,519.48.

Falls in large cap Ceylon Tobacco Co Plc dragged down the overall index, said Dimantha Mathew, research head at First Capital Holdings.

“The market came down on small quantity of CTC trade and some banks also came down as investors think the earnings could be hit on some tough regulatory compliance,” he added.

Turnover was 1.6 billion rupees, more than this year’s daily average of around 973.3 million rupees.

Shares in Ceylon Tobacco ended 4.8 percent weaker, Ceylinco Insurance Plc fell 7.6 percent and Commercial Bank of Ceylon Plc slipped 0.22 percent. ($1 = 155.8000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lankan stocks edge up as foreign investors return

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

MARCH 13, 2018

COLOMBO, March 13 (Reuters) – Sri Lankan shares rose slightly on Tuesday and posted their highest close in nearly two weeks as investors picked up beverage and telecom stocks, and foreign investors returned to the market following a communal violence last week, dealers said.

Foreign investors bought a net 1.2 billion rupees ($7.71 million) worth of shares, extending the year-to-date net foreign inflow to 7.3 billion rupees worth of equities.

Analysts said local and foreign investors returned to the market a week after a wave of anti-Muslim attacks by Sinhalese Buddhist hardliners in the central highlands district of Kandy.

The Colombo stock index ended 0.11 percent firmer at 6,554.83.

“It is a positive sign that both locals and foreigners are buying after a long wait,” said Dimantha Mathew, head of research, First Capital Holdings.

Turnover was 2.5 billion rupees on Tuesday, the highest since Feb. 26 and more than double of this year’s daily average of around 960.4 million rupees.

Shares in Asian Hotels and Properties Plc ended up 3.8 percent, Dialog Axiata Plc gained 1.5 percent and Singer Sri Lanka Plc rose 2.7 percent. ($1 = 155.6500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)