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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)

Sri Lankan stocks end flat near 4-week low; lenders gain

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

MAY 10, 2018

COLOMBO, May 9 (Reuters) – Sri Lankan shares ended little changed on Wednesday, at a near four-week low, as losses in shares of beverage companies outweighed gains in bank stocks even as many investors continued to stay on the sidelines looking for fresh cues.

President Maithripala Sirisena’s appeal to his own coalition government and the opposition in parliament on Tuesday to end a power struggle failed to cheer investors as weakness in the rupee continued to weigh.

The Sri Lankan rupee hit a fresh low last week on importer demand for the U.S. currency, dealers said.

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

The Colombo stock index ended 0.03 percent weaker at 6,483.65, its lowest since April 12. The index lost 0.37 percent last week, its second straight weekly fall.

“Market is searching for directions,” said Dimantha Mathew, head of research, First Capital Holdings.

“After a long time, we saw the turnover crossing 1 billion rupees thanks to a block deal. We also saw some buying interest in banking sector which is a good sign for the market.”

Shares of Nestle Lanka Plc fell 2.2 percent, while conglomerate John Keells Holdings Plc ended 0.3 percent down and Distilleries Company of Sri Lanka Plc closed 0.5 percent lower.

Union Assurance Plc, which accounted for 24 percent of the day’s turn over, closed 2.6 percent higher.

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.

Turnover stood at 1.2 billion rupees ($7.60 million), its highest since April 4 and more than this year’s daily average of 1.03 billion rupees.

Foreign investors bought a net 86.8 million rupees worth of equities on Wednesday, but the market has seen a net foreign outflow to 400.2 million rupees worth of equities so far this year. ($1 = 157.8500 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

Dimantha Mathew, Head of Research at First Capital Holdings, with the Market Review on Ada Derana – 06.05.2018

Stock Market in Sri Lanka

First Capital’s Dimantha Mathew 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 end at over 3-week low in thin trade

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

MAY 09, 2018

COLOMBO, May 8 (Reuters) – Sri Lankan shares fell on Tuesday to more than a three-week low, dragged down by shares of beverage companies such as Distilleries Company of Sri Lanka Plc , while investors continued to await fresh cues from political and economic fronts.

The Colombo stock index ended 0.33 percent weaker at 6,485.57, its lowest since April 12. The index lost 0.37 percent last week, its second straight weekly fall.

“It was a very slow market as investors are still scared and they are worried …. they don’t see that the economy has picked up and they feel its still uncertain for equity investments though there are signs of improvement in the economy,” said Dimantha Mathew, head of research, First Capital Holdings.

Shares of Sri Lanka Plc ended 3.1 percent lower while Ceylon Cold Stores Plc fell 1.2 percent and Lanka ORIX Leasing Plc ended 1.9 percent weaker.

Conglomerate John Keells Holdings Plc ended 0.6 percent down and Sri Lanka Telecom Plc closed 1.1 percent weaker.

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

The Sri Lankan rupee hit a fresh low on Wednesday on importer demand for the U.S. currency, dealers said, but recovered after the central bank intervened in the market.

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.

Turnover stood at 601.6 million rupees ($3.82 million), less than this year’s daily average of 1.03 billion rupees.

Foreign investors bought a net 100.9 million rupees worth of equities on Tuesday, but the market has seen a net foreign outflow to 487 million rupees worth of equities so far this year. ($1 = 157.4000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

Amanda Lokugamage, Senior Research Analyst at First Capital Holdings, with the Market Review on Ada Derana – 29.04.2018

Stock_Market_Investment_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.

Dimantha Mathew, Head of Research at First Capital Holdings, with the Market Review on Ada Derana – 25.04.2018

 

 

 

 

 

First Capital’s Dimantha Mathew 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 Lanka’s Bid to Boost Value of Colombo Stock Exchange Set for Analysis in 2018 Report

First Capital signs third MoU with Oxford Business Group

 

Stock_Market_Sri_Lanka

Andrea Tsiachtsiri, Country Director, Oxford Business Group, Dilshan Wirasekara Director / CEO First Capital Holdings PLC, Nisansala Munasinghe Manager Branding and Marketing Services First Capital Holdings PLC

First Capital Holdings signs third MoU with Oxford Business Group Colombo, April 2018: A new report by the global research and consultancy firm Oxford Business Group (OBG) on Sri Lanka’s economy will highlight efforts under way to encourage the larger, state-owned banks to list on the Colombo Stock Exchange (CSE).
The Report: Sri Lanka 2018 will track the measures put in place to facilitate the listing of major lenders, which forms part of a broader, national bid to generate capital and boost the exchange’s value. OBG’s publication will also provide wide-ranging analysis of the other segments that are expected to play a key role in the development of Sri Lanka’s capital markets. These include companies producing building materials such as cement and commercial vehicle retailers, both of which look set to benefit from heightened construction activity, fuelled by a growing project pipeline.

 

In addition, the report will consider the positive impact that improved access to the EU market under the Generalised System of Preferences Plus is having on Sri Lanka’s exports, which bodes well for manufacturers and firms operating in related sectors, such as transport and logistics.
Investment Bank, First Capital Holdings PLC has signed a third memorandum of understanding (MoU) with OBG for its forthcoming publication. Under the MoU, the firm will once again share its experience of the local capital market help to produce the Capital Markets Chapter of The Report: Sri Lanka 2018, contributing in-depth analysis of both the Equity stock and Government Securities bond markets.
Dilshan Wirasekara Dilshan Wirasekera, Director and CEO of First Capital Holdings, said he looked forward to working with OBG’s team once again and documenting the latest developments changing in the investment landscape at the CSE against Sri Lanka’s changing rapidly economic economy evolving economy landscape.

 

“Forecasts point to a revival in private sector credit growth in the second part of 2018, which is expected to boost the performance of Sri Lanka’s banks, enabling them to benefit from robust levels of capitalisation and, in turn, better returns on equity,” he said. “With the country’s major infrastructure drive and other construction projects already helping to stimulate economic activity and attract greater inflows, the outlook for capital market expansion looks bright.”

 

Welcoming First Capital Holdings on board, Michael Todemann, OBG’s editorial manager in Sri Lanka, agreed that while private sector credit growth had eased last year, data suggested it was on track to reach a targeted 16% in 2018.
“A national drive under way to support smaller enterprises and encourage FDI is steering the country towards the next phase of its economic development, with new measures aimed at enhancing the business climate expected to provide a further boost,” he said. “The team at First Capital Holdings are known to be experts in their field, with an in-depth knowledge of the local and regional markets. I’m delighted that our readers will once again benefit from their analysis of market activity and potential opportunities at the CSE.”
The Report: Sri Lanka 2018 will mark the culmination of more than six months of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.

 

The publication will also contain contributions from leading representatives, including: President Maithripala Sirisena; Greg Hands, the UK’s minister of state for international trade; Changyong Rhee, director of Asia and Pacific Department for the IMF; and Qitao Liu, chairman, China Communications Construction Company. It will be available in print and online.

About Oxford Business Group

 

Oxford Business Group is a global research and consultancy company with a presence in over 30 countries, from Asia, Africa and the Middle East to the Americas. A distinctive and respected provider of on-the- ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.
The Report: Sri Lanka 2018 will be produced with Board of Investment and the Ceylon Chamber of Commerce. Contributions will also be made by First Capital Holdings, PwC, HSBC and John Wilson Partners.

Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, construction, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and conferences, Global Platform – exclusive video interviews, The Report publications and its Consultancy division.

 

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.