daily trade journal - 13.06.2013
TRANSCRIPT
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q
q
Today's Turnover (LKR mn)
Annual Average Daily Turnover (LKR mn)
Volume (mn)
Annual Average Daily Volume (mn)
Market Capitalization (LKR bn)
Net Foreign Inflow / (Outflow) [LKR mn]
- Foreign Buying (LKR mn)
- Foreign Selling (LKR mn)
YTD Net Foreign Inflow / (Outflow) [LKR bn]
YTD Performance
S&P SL 20 Index
41.1
42.8
16.0
67.7
24.9
Thursday, June 13, 2013
923.8
% ChangePoint ChangeToday
25.0
480.0
-1.22 %
-1.47 %
2,384.0
ASPI
S&P SL 20 Index
- 76.89
- 52.32
6,207.87
3,499.09
ASPI 10.0%
13.4%
Level 23, East Tower, World Trade Centre,
Colombo 01
Tel: +94 11 727 7000,
Fax: +94 11 727 7099
Email: [email protected]
CSE Diary for 13.06.2013Index on a clear downtrend: The bourse witnessed a
clear downtrend today however in latter part of the
day ASPI witnessed some spikes in both directions
owing to Ceylon Tobacco Company being traded
with a notable gap on-board both up and down.
ASPI closed the day at 6,207.87 with a dip of 77
points. Heavy sell-downs in large cap counters John
Keells Holdings (-2.4%), Ceylon Tobacco Company (-
2.4%) and Commercial Bank (-2.5%) dragged down
the overall performance of the index.
COMB spearheads daily turnover: Commercial Bank
witnessed some off-board interest backed by a single
mid-sized crossing of 500k shares which was dealt at
LKR118.0. The counter attracted notable on-board
interest, topping the on-board turnover list. Several
large transactions were seen on-board on COMB
during trading hours, largest being the 127k shares
which was transacted at LKR118.0. The countersettled the day at LKR116.9 with a dip of 2.5%.
Softlogic Holdings on a sell-off: Heavy sell-off was
seen in Softlogic Holdings with notable on-board
turnover. The counter transacted a large on-board
block of 1.0mn shares at LKR10.0. SHL closed the day
at LKR9.9 with a notable dip of 7.5%, trading near a
strong support level. Sampath Bank further dipped
today by 0.9% to settle at LKR213.0, trading near a
strong technical support level. The counter
transacted a mid-sized on-board block of 50k sharesat LKR214.0.Heavy retail activity on MTD walkers: Retail interest
was heavy on retail investor-favorites MTD walkers
with heavy turnover. KAPI closed the day at LKR31.5
with a drop of 0.9%. Retail interest was also present in
Nation Lanka Finance.
Bourse on a clear
downt rend
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Statistical Look Up
Treasury Bill (%) 12.06.2013
8.67
9.80
10.85
12.71
Inflation (%) May-13 7.3
8.8
All Share Price Index q
S&P SL20 Index q
Turnover (LKR mn)
Turnover (USD mn)Volume (mn shares)
Traded Entities
Market Capitalization (LKR bn)
Foreign Purchases (LKR mn)
Foreign Sales (LKR mn)
Net Foreign Inflow (LKR mn)
Market PER (X)
Market PBV (X)
Market Dividend Yield
SECTOR INDICES
Banks, Finance & Insurance q
Beverage, Food & Tobacco q
Construction & Engineering q
Diversified q
Healthcare p
Hotels & Travels q
Land & Property p
Manufacturing q
Plantation q
Telecom q
-4.41%
2.4
192.0
552.3
13,763.9
% Change
-1.22%2.3
-141.75%
17.1
-3.34%
-1.86%
-2.70%
-4.67%
% WoW
ChangeLast Week
-2.58%
-90.91%
-87.05%
-92.24%
744.3
2,413.6
21.1
-64.85%
-64.85%
% WoW
ChangeLast Week
1,365.6
10.7
-1.85%
-2.74%
-1.22%
Today
42.8
2.3
24.9
16.9
6,207.9
-1.47%
2,384.0
2.2
67.7
-15.24%
-15.24%18.41%
0.42%
3.825.0
237
3,499.1
566.3
4.4
236
480.0
-1.22%
20.63%
-84.34%
Week ending
-0.76%
-33.83%
-2.07%
-2.58%
-2.70%
-2.58%
242
2,447.1
6,372.4
3,596.3
37.8
-2.57%
4.76%
56.1
158.7
-102.6
Change %
6,284.8
3,551.4
2.1
-1.22% 17.3
Pre Day
13,864.9
19,064.1
2,061.3
3,539.9
617.8
-1.11%
2,940.8
2,067.1
-1.13%
-1.31%
-0.70%
-1.58%
2,938.9
19,344.8
648.1
165.9 169.5-1.28%163.8
2.1
3,128.0
18,813.9
2,918.4
2,028.7
13,608.3
Pre Day
4.76%
3 months
6 months
12 months
YoY Change
Annual Avg
AWPLR
Excess Liquidity (LKR 'bn) as at 13.06.2013
Today
-10.03
689.8 687.6 0.31% 705.4 -2.22%
804.5 810.3 -0.72% 828.6 -2.91%
3,272.4
3,597.8
0.01%
3,500.8
617.8
-0.48%3,143.1
6000
6100
6200
6300
6400
6500
6600
Index
ASPI
3400
3450
3500
3550
3600
3650
3700
Index
S&P SL20
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
0
500
1,000
1,500
2,000
2,500
3,000
Volume('mn)
TurnoverLKR('mn)
Turnover Volume
Softlogic Equity Research Page | 2.
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High Index Calibre USD350 Mn
Price Gainers Price Losers
Top 05 Performers for the Day
COMMERCIAL BANK
SOFTLOGIC
MTD WALKERS
CHEVRON
SAMPATH
Most Active
Close
267.00
952.20
266.60
985.00
167.10
133.50
701.00
8.90
Volume (mn)
1.8%
Turnover
(LKR)
1.3%
104,792,736
29,643,907
27,855,711
43,555,175
31,707,939
1.17
4.35
0.13
0.5% 12,080,323
43,555,175
1.8%
31.50
294.50
213.00
AMANA TAKAFUL 1.50
NATION LANKA[WARRANTS] 0.10
% Change
NATION LANKA
FREE LANKA 2.60
1.53
4.35
2.59
2.70
-7.48%10.70
0.98
0.100.00%
1.08
-7.48%
0.00%
0.00%
1.2%
1.2%
0.0%
Contribution to
Total T/O
2,925,141
-0.93%
10.20
260,421
2,300,611
3.03
CEYLON PRINTERS
SHALIMAR
Pre Day
-2.50%119.90 4.4%0.89
Volume (mn)% Change
6.60%
+ 7.80 8.46%
116.90
CompanyContribution to
Total T/O
145.00
0.1%
0.1%
Turnover
(LKR)
166.70
3.97
6.55
116.20
59.80
166.50
41.00
27,855.71
73.00
213.00
167.00
41.00
701.00
70.00
20.40
1,402.10
TodayCompany
173.90
MULTI FINANCE
900.00
218.58
2.87365.71
17.00
639.35
505.86
33.00
Today
4.76%
Turnover
USD ('000)
1,070.008.68%
Intraday
Low (LKR)
Turnover
LKR ('000)
104,792.74
4,205.92
822.30
5.02
940.00
16,211.45
Intraday
High (LKR)
273.50
12.03
140.70
213.00
133.50
193.00
41.80
8.80
% Change
JOHN KEELLS HOLDINGS 60,401
SAMPATH BANK
ASIAN HOTELS & PROPERTIES 5,201
1.6%
0183
12,257
9.6%
7.5%CEYLON TOBACCO
CARSON CUMBERBATCHNESTLE LANKA
SRI LANKA TELECOM
COMMERCIAL BANK [V]
3.6%
3.0%BUKIT DARAH
DIALOG AXIATA
HNB [V]
DFCC BANK
CARGILLS
9.18
1,900.10
121.00
1,533.18
3.96
LOLC
AITKEN SPENCE 135.00
2.4% 27.32
504.11
169.00
0.00356.94
0.002.80
0.00
709.90
9.00
1,978.20
116.90
0.001,983.00
2,166.95
3,481.03
3.9%
2.3%
1.2%
912
56,593
12,967
11,388
4.5%
195.00
60.00
3.0%
194.40
60.00
436.50
3.1%
9.90
-0.94%
1.5%
2.2%
Change
- 130.00
- 95.00
- 1.90
- 123.20
% Change
218.00
294.50
215.00
31.80
KALAMAZOO
+ 99.00
SELINSING
70.30
140.70
Volume
127.21
0.00%
-3.70%
889,878
386.03
834.26
1,230 1,170.16
1.3%
Change
33.80
Company% of
Mkt Cap
10.20
Today Pre Day
10.70
0.10
1.50
+ 2.70
DISTILLERIES
2,708
130,333
SOFTLOGIC 9.90
Company
17,886
70,105
5,006
SAMSON INTERNAT.
EQUITY ONE PLC
Company Today
1.6%
BERUWALA RESORTS
COMMERCIAL DEV. 71.00 + 6.90 10.76% GESTETNER 178.00 - 22.00 -11.00%
-8.08%
-8.52%
-10.83%
-9.55%
2.20
1,599.00
100.00
+ 0.10
Softlogic Equity Research Page | 3.
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Currency Board Announcements
Local - Indicative Rate against LKR Dividends
Dollar Watawala Plantations Plc
Yuan 0
Euro 0
Rupee 0
Yen 0
Ringgit 0
Rouble 0
Riyal 0
Dollar Rights Issues / Scrip Dividend / Sub division / Capitalization
Franc Company
Baht No Announcements
Pound 0
Dollar 0Source: www.cbsl.gov.lk
Global Markets
q
q
q
q
q
q
* Time is as at ET Source: www.bloomberg.com
Commodit Markets
Crude Oil (Brent) q
Crude Oil (WTI) q
ICE Cotton #2 q
CBOT Wheat p
COMEX Gold q
COMEX Silver q
COMEX Copper q
* Time is as at ET Source: www.bloomberg.com
00-Jan-00
18-07-2013
1/0/1900
1/0/1900
00-Jan-00
Description
0.00
0.00
0 1/0/1900
0
XR Date
00-Jan-00
00-Jan-00
00-Jan-0000-Jan-00
Renunciation
00-Jan-00
0.00
Time*
USd/bu.
87.33
Price
103.21
95.46
USD/bbl.
101.29
AGRICULTURE
Hong Kong Hang Seng Index
Nikkei 225
ASIA
FTSE 100 Index
EU
199.82
0.25
0.00 0
10-07-2013
127.44
0.0033.98
Malaysia
3.96
120.47
20.76
2.20
1.34
40.45
India
Currency
170.24
Indicative Rate
13.06.2013
China
0
Payment DateDPS (LKR) XD Date
6,237.1
Singapore
Switzerland
Thailand
UK
-0.28
-467.6
0
2,641.8
138.85
1/0/1900
1/0/1900
4.10
USA
02:28
-62.4
1/0/1900
Change
-0.93%
-843.9
04:01
0
00-Jan-00
1/0/1900
1/0/1900
06:28
06:27
-0.99%
06:28
Company
06:48
06:26
06:27
0-Jan
0-Jan
06:45
06:44
Time*
06:26
-1.24%
Change %
0.07%
-0.33%
-0.27%
-0.44%
-6.35%
-2.19%
-0.46%
-13.6
Change
-0.84%-0.74
0
-0.42
Change %
318.55
USD/t oz.
USD/t oz. -0.07
683.50
-4.00
21.73
Index
Dow Jones Industrial Average
S&P 500 Index
EUROPE
EURO STOXX 50 Price EUR
12,445.4
Value
14,995.2
1,612.5
USD/bbl.
USd/lb.
USd/lb.
AMERICA
0.50
METALS
ENERGY
Commodity
20,887.0
Units
0
-24.8
Proportion
00-Jan-00
00-Jan-00
0.00
0.00
-0.84%
-0.84%
-126.8
Russia
Saudi Arabia
Japan
1,385.60 -6.40
Australia
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Softlogic Equity Research Page | 5
CSE Announcements
Mercantile Investments and Finance [MERC:LKR2200.0]: DebentureIssue: The company informs that it is withdrawing the proposed debenture issue
of LKR500mn with an option to increase to LKR1 bn.
Dealing by Directors:
Local News
SEC Chief explains capital markets turnaround strategy: The first area is to improve the liquidity of themarket. Godahewa explains that this starts with increasing the participation rate of foreigners, educating
retail participants about investing and communicating well with the media. He hopes that this education
process will help rebuild investor confidence and double the local participation from 700,000 to 1.4 million
Central Depository System (CDS) accounts by 2016. The next step is to increase the market capitalization of
the CSE. Godahewa hopes to increase the numbers from 287 currently to 400 in 2016, with market
capitalization increasing from USD 20 bn to USD 50 bn.With docile markets over the past 20 years, trading
systems are currently outdated. In order to meet the needs of market participants, he intends for an
upgrade in the systems technology to be of a global standard by 2016. This would include strengthening the
risk management processes, enabling centralized clearing for counter-parties and instituting a delivery
versus payment settlement solution for securities.Godahewa believes that a five-fold increase in corporatedebt issuance from US $ 2 billion to US $ 10 billion within the next three years is possible. This, together with
allowing other products (like the derivatives and commodities markets) to develop and demutualizing the
CSE to foster a commercial agenda, will help sustain market interest.
[Source: www.dailymirror.lk]
Post-2015 agenda for Asia: With the Millennium Development Goals expiring in 2015, a global debate isunderway for a new development agenda to replace them. For Asia, the agenda must in part tackle the
unfinished task of poverty reduction under the MDGs but also confront the newer challenges of income
inequality and environmental destruction. Asia did very well in the core MDG goal of reducing the number of
people living in poverty by half. Yet, two-thirds of the worlds poor still live in the region. And while basic
health and education have improved in much of Asia, there are glaring gaps in lower-income countries,especially in reducing infant deaths and in improving maternal health.
[Source: www.dailymirror.lk]
Sri Lanka to ban foreign investments in to steel, cement, retail trade: Sri Lanka plans to ban foreigninvestments into steel, cement, retail trade, small scale agriculture and beauty care products, to 'protect'
domestic investors, according to decision by the cabinet of ministers. Cabinet spokesman Keheliya
Rambukwelle said relevant regulations would be made known later. He said existing investors in the sectors
will not be affected and it will not be with retrospective effect.However the government wanted to promote
foreign investments into assembling of vehicles, refining petroleum products and making boats for the
export market.
[Source: www.lbo.lk]
Sri Lanka sells 20-year bonds at 12.15-pct: Sri Lanka has sold 20-year rupee denominated bonds to yield12.50% and 30-year bonds to yield 12.50%, the state debt office said. At the first 30-year bond auction last
month 30-year bonds were also sold at 12.50%. The debt office sold LKR8.0 bn in 20 year bonds maturing on
Company Name Relationship Transaction Quantity Price (LKR) Date
Nation Lanka Finance [CSF: LKR10.2] Access Equities Common Director Sale 675,000 11.7-11.9 10.06.2013
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Softlogic Equity Research Page | 6
June 01, 2033 and LKR5.0 bn in 30-year bonds maturing on June 01, 2043. There have been no recent
auctions of 20-year bonds.
[Source: www.lbo.lk]
Sri Lanka processing large property projects: Sri Lanka is processing several large mixed developmentprojects in the capital Colombo including two which may be over USD500 mn, investment promotion
minister Lakshman Abeywardena said.One project now being processed involves a USD640 mn investment,he told reporters. Another involving a Korean investor may go up to a USD1bn in all its phases he said. Sri
Lanka's Abans group is engaged in a USD140 mn project in its first phase, Abeywardena said. In addition the
University of Central Lancashire was building another USD140 mn campus in Mirigama.
[Source: www.lbo.lk]
Global News
World Bank cuts China growth forecast: The World Bank has cut its growth forecast for China amid warningsof slower but more stable global growth over the coming months. The bank now expects the China to grow
7.7% in 2013, down from its earlier projection of 8.4%. It also cut the forecast for global economic growth to2.2% from 2.4%. The bank said growth in China, the world's second-largest economy, had slowed as
policymakers look to rebalance its growth model. Over the past few decades China has relied heavily on
exports and government-led investment to boost its economy. However, a slowdown in key markets such as
the US and Europe has seen a decline in demand for Chinese exports, prompting concerns whether China
can sustain its high growth rate.
[Source: www.bbc.co.uk]
Spain Recession Seen Ending by 2014 as Austerity Eases: The Spanish economy will shake off its recessionand growth will accelerate through 2015 as European Union officials ease demands for budget cuts,
economists said. Economic output in Spain will increase for the first time since 2011 in the first quarter of
2014 and expand by 0.5% over the year, according to the median of 32 forecasts in the Bloomberg monthlysurvey. That compares with a previous estimate for a 0.3% expansion next year. The economy will grow by
0.9% in 2015, the survey showed.There is an expectation that the fiscal consolidation will be less of a drag
than before, Luigi Speranza, an economist at BNP Paribas SA in London, said in a telephone interview
yesterday.
[Source: www.bloomberg.com]
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Softlogic Equity Research Page | 7
Softlogic Equity ResearchDimantha Mathew
+94 11 7277030
Kavindu [email protected]
+94 11 7277031
Imalka Hettiarachchi
+94 11 7277032
Softlogic Equity SalesBranches
Horana
Madushanka Rathnayaka
No. 212, 1st
Floor, Panadura Road, Horana
+94 34 7451000, +94 77 3566465
Negambo
Krishan Williams
No. 121, St. Joseph Street Negambo
+94 31 2224714-5, +94 77 3569827
Kurunegala
Bandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
+94 37 2232875, +94 77 3615790
Matara
Lalith Rajapaksha
No.8A, 2nd
Floor, FN Building, Station Road, Matara
[email protected]+94 41 7451000, +94 77 3031159
Dihan Dedigama
+94 11 7277010, +94 77 7689933
Chandima Kariyawasam
+94 11 7277058, +94 77 7885778
Sonali Abayasekera
+94 11 7277051, +94 77 7736059
Thanuja De Silva
+94 11 7277059, +94 77 3120018
The report has been prepared by Softlogic Stockbrokers (Pvt) Ltd. The information and opinions contained herein has been compiled or arrived at based upon
information obtained from sources believed to be reliable and in good faith. Such information has not been independently verified and no guaranty, representation
or warranty, express or implied is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. This
document is for information purposes only, descriptions of any company or companies or their securities mentioned herein are not intended to be complete and
this document is not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell a ny securities or other financial instruments.
Softlogic Stockbrokers (Pvt) Ltd may, to the extent permissible by applicable law or regulation, use the above material, conclusions, research or analysis in which
they are based before the materialized disseminated to their customeLKRNot all customers will receive the material at the same time. Softlogic Stockbrokers, their
respective directors, officers, representatives, employees, related persons and/or Softlogic Stockbrokers, may have a long or short position in any of the securities or
other financial instruments mentioned or issuers described herein at any time and may make a purchase and/or sale, or offer to make a purchase and/or sale of any
such securities or other financial instruments from time to time in the open market or otherwise, in each case either as principal or agent. Softlogic Stockbrokers
may make markets in securities or other financial instruments described in this publication, in securities of issuers described here in or in securities underlying or
related to such securities. Softlogic Stockbrokers (Pvt) Ltd may have recently underwritten the securities of an issuer mentioned herein. This document may not be
reproduced, distributed, or published for any purposes.