Tag Archives: Stock brokers in Sri Lanka

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 16.08.2018

Stock Brokers in 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 edge down; foreign investors sell John Keells

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

AUGUST 17, 2018

COLOMBO, Aug 16 (Reuters) – Sri Lankan shares ended marginally weaker on Thursday, marking their fifth straight session of losses, as foreign investors sold market heavyweight John Keells Holdings amid global worries.

Foreign investors sold shares worth a net 474.7 million rupees ($2.96 million) on Thursday, extending the foreign outflow to a net 3.24 billion rupees worth of equities so far this year.

Lacklustre corporate results also hit investor appetite for riskier assets, analysts said.

The Colombo stock index fell 0.05 percent to 6,083.59, its lowest close since July 10. It has declined about 4.5 percent so far this year.

“There was no catalyst to move the market and the recently released June quarter earnings are not that encouraging,” said Atchuthan Srirangan, assistant manager – research, First Capital Holdings Plc.

Turnover was 788.9 million rupees ($4.92 million) on Thursday, less than this year’s daily average of 832.8 million rupees.

Brokers have also said possible loose fiscal policies in the upcoming budget to woo voters ahead of next year provincial council and presidential polls also have hurt investor sentiment.

Emerging-market equities languished in bear territory on Thursday, shrugging off the prospect of new trade talks between China and the United States, while Turkey’s lira recovered.

Shares in John Keells, which accounted for 71.4 percent of the day’s turnover, fell 1.2 percent, while shares in Ceylinco Insurance slid 1.9 percent.

The central bank left its key policy rates unchanged, as expected, on Aug. 3, citing its goals of stabilising inflation and fostering sustainable economic growth.

Central bank Governor Indrajit Coomaraswamy said the economy was unlikely to grow more than 4 percent in 2018, falling short of an earlier estimate of 5 percent. ($1 = 160.4000 Sri Lankan rupees) (Reporting by Shihar Aneez; Editing by Vyas Mohan)

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 12.08.2018

Share Market Investment in 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 hit near 4-week closing low on foreign selling

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

AUGUST 08, 2018

COLOMBO, Aug 7 (Reuters) – Sri Lankan shares declined for a second straight session on Tuesday and posted their lowest close in nearly four weeks, as foreign investors sold stocks such as conglomerate John Keells Holdings Plc, brokers said.

The Colombo stock index ended 0.41 percent lower at 6,117.63, its lowest close since July 11, and has declined about 4 percent so far this year.

Turnover rose to the highest since May 31, at 2.1 billion rupees ($13.15 million), well above this year’s daily average of 849 million rupees.

“Market was dragged down by foreign selling of blue chips. A foreign fund is exiting as part of its selloff,” said Atchuthan Srirangan, assistant manager – research, First Capital Holdings Plc.

Foreign investors sold equities worth a net 983.4 million rupees, extending the year-to-date net foreign outflow to 3.5 billion rupees worth of equities.

Sri Lanka’s central bank left its key policy rates unchanged as expected on Friday and said the decision backed its goals for stabilising inflation and fostering sustainable economic growth.

Central bank Governor Indrajit Coomaraswamy said the economy was unlikely to grow more than 4 percent in 2018, falling short of an earlier estimate of 5 percent.

Shares of John Keells, which accounted for 50.8 percent of the day’s turnover, ended 1.1 percent lower with foreign investors selling 7.5 million shares of the company.

Ceylon Tobacco Co Plc fell 1.7 percent, Hatton National Bank Plc declined 1.3 percent and Melstacorp LTD closed 2 percent weaker. ($1 = 159.6500 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Subhranshu Sahu)

Dimantha Mathew, Head of Research at First Capital Holdings, with the Market Review on Ada Derana – 06.08.2018

Share Market 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.

First Capital’s Dimantha Mathew with the Market Review on Ada Derana

Atchuthan Srirangan, Assistant Manager – Research at First Capital Holdings, with the Market Review on Ada Derana – 02.08.2018

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 Lanka central bank seen keeping rates unchanged

Economy Next – 03.08.2018

By First Capital Research

ECONOMYNEXT – Sri Lanka’s central bank is likely to keep its policy interest rates unchanged Friday when it makes its monetary policy announcement, First Capital equities said.

Subdued credit growth and slow economic growth warrant a rate cut, the brokerage said in a research note.

But a rate cut would serve to aggravate the continuous foreign outflow from both debt and equity markets thus increasing pressure on the rupee, they said.

“Therefore, we believe in a continuation of the current monetary policy stance. We expect the CBSL to keep Statutory Reserve Ratio (SRR) unchanged at 7.50%.”

Based on economic developments and outlook for key macroeconomic indicators pointing to more economic stability, First Capital increased the probability of a rate cut to 5% from the previous 0% while decreasing the probability of an unchanged policy stance to 95%.
(COLOMBO, 02 August, 2018)

Amanda Lokugamage, Senior Research Analyst at First Capital Holdings, with the Market Review on Ada Derana – 29.07.2018

Stock 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 shares fall for fourth straight session

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

JULY 30, 2018

COLOMBO, July 26 (Reuters) – Sri Lankan shares extended their losses to a fourth straight session on Thursday as foreign investors sold blue-chip stocks such as John Keells Holdings Plc and Hemas Holdings Plc.

The Colombo stock index ended 0.14 percent weaker at 6,153.99, its lowest close since July 16

The index dropped 0.47 percent this week, its first weekly fall in three, bringing its year-to-date losses to 3.4 percent.

Turnover stood at 430.8 million rupees ($2.7 million), half of this year’s daily average of 864.5 million rupees.

“The market is slowly coming down on blue-chip selling and is back to its support level of 6,100 again,” said Atchuthan Srirangan, assistant manager – research, First Capital Holdings Plc.

Foreign investors sold equities net worth 169.6 million rupees on Thursday, extending the year-to-date net foreign outflows to 2.5 billion rupees.

A downward revision in economic growth estimate earlier this month by the central bank has hurt sentiment, analysts have said.

Economic growth in 2018 is likely to be between 4 percent and 4.5 percent, falling short of an earlier estimate of 5 percent, Central Bank Governor Indrajit Coomaraswamy said earlier this month.

Shares of conglomerate John Keels Holdings Plc fell 1.9 percent, while Hemas Holding Plc ended 3.1 percent lower. Biggest listed lender Commercial Bank of Ceylon closed 1.5 percent down and Sri Lanka Telecom Plc lost 2.9 percent.

The stocks, bond and foreign exchange markets are closed on Friday for a public holiday and will resume trading on Monday. ($1 = 159.5000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Amrutha Gayathri)

Sri Lankan shares fall for third straight session in dull trade

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

JULY 26, 2018

COLOMBO, July 25 (Reuters) – Sri Lankan shares extended fall for a third straight session on Wednesday as investors sold blue-chip shares, but foreign buying helped limit losses.

The Colombo stock index ended 0.34 percent weaker at 6,162.49. The index, which is down nearly 3 percent in the year so far, had on Friday recorded its highest close since June 29.

Turnover stood at 161.4 million Sri Lankan rupees ($1.01 million), less than a third of this year’s daily average of 873.1 million rupees.

“Today the market came down on blue-chip selling in dull trade,” said Atchuthan Srirangan, assistant manager – research, First Capital Holdings Plc.

“Investors are waiting to see the direction and the good sign is we are seeing net foreign buying for the fifth straight day.”

Foreign investors bought equities worth net 4.3 million rupees ($26,959.25) on Wednesday, but they have been net sellers of stocks worth 2.4 billion rupees so far in the year.

A downward revision in economic growth estimate earlier this month by the central bank has hurt sentiment, analysts have said.

Economic growth in 2018 is likely to be between 4 percent and 4.5 percent, falling short of an earlier estimate of 5 percent, Central Bank Governor Indrajit Coomaraswamy said earlier this month.

Shares in Ceylon Tobacco Company Plc fell 9.5 percent, while conglomerate John Keels Holdings Plc ended 0.9 percent down, biggest listed lender Commercial Bank of Ceylon closed 1.0 percent down, Dialog Axiata Plc lost 0.1 percent and Hemas Holding Plc ended 1.3 percent lower. ($1 = 159.5000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Vyas Mohan)