Daily Trade Journal - 12.04.2013.pdf

7/28/2019 Daily Trade Journal - 12.04.2013.pdf

1/8

p

p

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]

3.5%

8.0%

ASPI

S&P SL 20 Index

+ 26.51

+ 4.12

5,839.88

3,333.54

ASPI

Friday, April 12, 2013

798.7

% ChangePoint ChangeToday

27.6

288.4

0.46 %

0.12 %

2,237.3

YTD Performance

S&P SL 20 Index

38.1

16.4

6.3

31.3

14.9

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 12.04.2013Gains continue amidst low activity: Bourse

stagnated during the 1st 45 minutes of trading but

was followed by a rather steep uptrend reaching

an intra-day peak of 5,850 at the end of trading.

However the weighted average close was

registered as 5,840 up 27 points for the day. The

gains of the index stemmed from Sri LankaTelecom (+1.2%), Dialog (+1.1%), Distilleries (+1.2%),

Lanka Orix Finance (+6.1%) and John Keells

Holdings (+0.2%). S&P SL20 gained on a much

slower pace to reach 3,340 up 11 points.Singalanka leads turnover: Singalanka, a rather

silent counter saw a steep rise in volumes lead by a

few on-board blocks brought the counter the top

of the turnover list. The counter saw blocks of 171k,

158k, 161k, 128k and 552k shares changed hands

at LKR55.0 which covers bulk of the days volumeduring the 1st 15 minutes trading. Though on a

comparatively lower note, John Keells Holdings

saw some investor interest with the counter trading

in a tight range between LKR247.5 and LKR248.5 to

finally close at LKR247.8 (+0.2%)Banking sector dominance prevails: Renewed

activity was noted in Nations Trust Bank as the

counter generated 656k of volume which included

a couple of large on-board blocks of 499k and

100k at prices LKR60.2 and LKR60.5 respectively.The counter closed the day with a gain of 0.2% at

LKR60.3. Heavy activity and interest was prevalent

in Pan Asia Bank with 592k shares trading as the

counter gained 1.9% to close at LKR21.5. Investor

interest was also noted in DFCC and Sampath

Bank.Retail activity Low: Retail activity was low during

the day though some activity noted in Panasian

Power and Free Lanka Capital Holdings.

Market in green; butturnover plunges amidstshorter trading session


2/8

Statistical Look Up

Treasury Bill (%) 12.04.2013

9.25

10.25

11.35

13.76

Inflation (%) Mar-13 7.5

8.8

All Share Price Index p

S&P SL20 Index p

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 p

Beverage, Food & Tobacco p

Construction & Engineering p

Diversified p

Healthcare p

Hotels & Travels p

Land & Property p

Manufacturing p

Plantation p

Telecom p

614.6 606.3 1.37% 594.7 3.35%

817.2 807.2 1.24% 810.8 0.79%

2,568.5

3,352.6

1.00%

3,404.3

497.7

0.81%2,576.5

3 months

6 months

12 months

YoY Change

Annual Avg

AWPLR

Excess Liquidity (LKR 'bn) as at 11.04.2013

Today

-35.03

171.7

2.3

2,597.5

16,321.4

2,704.7

1,917.0

13,454.6

Pre Day

0.00%

169.8 169.71.13%

13,373.0

16,286.5

1,910.2

3,402.8

492.7

0.04%

2,666.9

1,893.4

0.36%

0.21%

0.57%

0.36%

2,689.3

16,113.9

474.7

604.7

125.2

479.5

Change %

5,813.4

3,329.4

2.3

0.46% 15.6

Pre Day

Week ending

1.42%

15.55%

-17.41%

1.16%

0.63%

1.28%

247

2,211.6

5,765.9

3,312.5

23.9

1.34%

0.00%

0.12%

2,237.3

2.3

31.3

-69.33%

-69.33%-20.07%

-6.42%

2.327.6

204

3,333.5

940.5

7.5

218

288.4

0.46%

-94.82%

-88.10%

Today

16.4

2.2

14.9

15.8

5,839.9

2,227.1

34.5

-54.52%

-54.52%

% WoW

ChangeLast Week

634.2

5.1

0.61%

1.29%

0.46%

1.19%

1.25%

1.54%

4.84%

% WoW

ChangeLast Week

1.41%

-84.84%

-70.88%

-89.43%

206.8

1.13%

2.1

51.2

155.6

13,406.3

% Change

0.46%2.1

-96.57%

15.7

5600

5650

5700

5750

5800

5850

5900

Index

ASPI

3150

3200

3250

3300

3350

Index

S&P SL20

0.0

50.0

100.0

150.0

200.0

0

500

1,000

1,500

2,000

2,500

Volume('mn)

TurnoverLKR('mn)

Turnover Volume

Softlogic Equity Research Page | 2.


3/8

High Index Calibre USD350 Mn

Price Gainers Price Losers

Top 05 Performers for the Day

SINGALANKA

NATIONS TRUST

JKH

DFCC BANK

CARSONS

Most Active

118.90 + 14.90 14.33% PALM GARDEN HOTL 81.10 - 16.60 -16.99%

-6.25%

-8.70%

-12.86%

-11.02%

64.50

103.20

0.90

+ 6.00

2.90

Today Pre Day

0.40

0.80

2.20

+ 0.30

DISTILLERIES

96,179

23,529

S M B LEASING[NON VOTING] 0.40

Company

20,550

6,170

29,700

S M B LEASING

SIERRA CABL

Company Today

1.5%

SINGALANKA

CIT

20,661

13,464.95

4,582.45

0 0.00

1.4%

Change

2.40

Company% of

Mkt CapVolume

156.80

0.00%

6.67%

60.30

0.20%

1.6%

2.4%

Change

- 0.90

- 1.30

- 0.40

- 0.10

% Change

219.40

140.00

450.00

247.30

AMANA TAKAFUL

+ 10.20

PC PHARMA

70.00

140.00

1,770.00

113.90

450.001,770.00

299.63

3,350.20

4.0%

2.2%

1.1%

51

68,918

1,800

1,895

4.3%

164.00

55.10

3.4%

164.00

54.10

450.00

3.5%

0.00

1,750.00

114.00

227.53

1.17

LOLC

AITKEN SPENCE 121.00

2.2% 26.73

147.19

167.00

13,445.0024.76

107.260.20

445.00

715.00

9.30

JOHN KEELLS HOLDINGS 79,320

SAMPATH BANK

ASIAN HOTELS & PROPERTIES 50

1.7%

30,10014

3,420

9.5%

6.6%CEYLON TOBACCO

CARSON CUMBERBATCHNESTLE LANKA

SRI LANKA TELECOM

COMMERCIAL BANK [V]

4.0%

3.2%BUKIT DARAH

DIALOG AXIATA

HNB [V]

DFCC BANK

CARGILLS

Turnover

USD ('000)

6.1014.29%

Intraday

Low (LKR)

Turnover

LKR ('000)

2,351.76

333.60

18.76

0.29

0.00

19,654.80

Intraday

High (LKR)

248.50

1.82

139.90

218.20

120.00

163.00

43.20

9.20

% Change

3.50

2.39

36.03

640.55

2.66

Today

10.26%

Turnover

(LKR)

154.30

5.11

36.56

113.60

54.00

152.00

42.10

5,151.26

70.00

218.90

166.00

43.10

706.20

69.00

4.20

1.50

TodayCompany

155.00

TAPROBANE

10.50

41.10

0.03

3,120,475

4,221,751

107.42

CFI

MACKWOODS ENERGY

Pre Day

10.26%58.50 3.2%1.29

Volume (mn)% Change

10.97%

+ 0.10 12.50%

64.50

CompanyContribution to

Total T/O

140.00

0.2%

0.1%

1.86

4.12

3.47

1.50

0.17%60.20

0.08

0.100.00%

1.55

0.00%

12.50%

4.55%

0.6%

0.6%

0.1%

Contribution to

Total T/O

2,481,002

0.00%

2.90

MULLERS 1.60

247.80

140.00

450.00

TESS AGRO 2.30

S M B LEASING 0.90

% Change

PANASIAN POWER

71,251,578

13,464,950

13,445,000

39,545,517

19,654,796

1.81

0.66

0.03

0.2% 5,256,736

1,648,531

1.8%

Volume (mn)

0.1%

Turnover

(LKR)

0.9%

166.50

120.10

706.40

9.30

0.00

Close

247.80

792.80

247.50



4/8

Currency Board Announcements

Local - Indicative Rate against LKR Dividends

Dollar No Announcements

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

p

p

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 p

CBOT Wheat p

COMEX Gold q

COMEX Silver q

COMEX Copper q

* Time is as at ET Source: www.bloomberg.com

Australia

1,558.70 -8.20

METALS

ENERGY

Commodity

22,059.3

Units

0

-15.1

Proportion

00-Jan-00

00-Jan-00

0.00

0.00

0.42%

0.36%

62.9

Russia

Saudi Arabia

Japan

342.55

USD/t oz.

USD/t oz. -0.22

709.00

-0.75

27.51

Index

Dow Jones Industrial Average

S&P 500 Index

EUROPE

EURO STOXX 50 Price EUR

13,485.1

Value

14,865.1

1,593.4

USD/bbl.

USd/lb.

USd/lb.

AMERICA

6.00

5.6

Change

0.01%0.06

0

-0.48

Change %

-0.17%

Change %

0.82%

-0.82%

-0.40%

-0.51%

-0.47%

-0.17%

-0.52%

04:01

03:41

03:47

0-Jan

0-Jan

03:51

03:51

Time*

03:42

03:42

03:42

-0.40%

03:42

Company

00-Jan-00

1/0/1900

1/0/1900

6,390.2

Singapore

Switzerland

Thailand

UK

-0.37

-31.3

0

2,656.8

134.88

1/0/1900

1/0/1900

4.32

USA

02:28

-24.5

1/0/1900

Change

-0.65%

-64.0

03:51

0

Payment DateDPS (LKR) XD Date

193.11

0.00

0.00 0

0

125.35

0.0033.43

Malaysia

4.06

132.17

20.25

2.31

1.26

41.27

India

Currency

164.41

Indicative Rate

12.04.2013

China

0

USd/bu.

84.75

Price

103.84

92.99

USD/bbl.

101.28

AGRICULTURE

Hong Kong Hang Seng Index

Nikkei 225

ASIA

FTSE 100 Index

EU

00-Jan-00

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*

00-Jan-00



5/8

Softlogic Equity Research Page | 5

CSE Announcements

Dealings by Directors:

Local News

Sri Lanka's savings ratio to go up if state firms cut losses: Sri Lanka's domestic savings ratio will be boostedif large losses in state enterprises are reduced, Central Bank deputy Governor Nandalal Weerasinghe said. InSri Lanka the central government is a net spender with a deficit in the current account of the budget where

total revenues cannot meet the even the spending desires of the rulers. Over the last few years losses in

state enterprises, especially energy utilities and transport sector have rocketed up, overtaking the profits of

port and airport monopolies and some other small firms. "The private sector has surplus savings,"

Weerasinghe told reporters. "During the last two to three years they (energy utilities) have been running

deficits. Basically they are dis-saving. "That is one of the reasons that the government is very keen to

introduce a cost-recovery basis for the prices, so they will contribute to the savings, rather than dis-savings."

[Source: www.lbo.lk]

Sri Lanka Hayleys to sell LKR2.0 bn debt: Sri Lanka's Hayleys [HAYL: LKR292.90], a diversified group willLKR2.0 bn rupees of listed unsecured debt which will have been rated 'AA-' by RAM Ratings Lanka. RAM said

the group's business was diversified with strong markets in gloves and activated markets. RAM said the

company had control over dividend policy of subsidiaries and could declare dividends when required. "On

the other hand, the Groups liquidity position continued to be tight, given its heavy reliance on short-term

borrowings (which include trade facilities) and its relatively low cash reserves," RAM said. RAM said group

debt levels are expected to increase with capacity expansion but gearing levels will be unchanged at 8.0

helped by higher profits generation


Singer Sri Lanka, to sell Rs1.5bn senior debt 'A(lka)' Fitch Rating: Singer Sri Lanka [SINS: LKR99.50], aconsumer durables firm will sell LKR1.5 bn of senior debt which has been given an expected 'A(lka)' rating,Fitch Ratings said. Fitch had also confirmed an 'A(lka)' rating of the company. The outlook is stable. Singer

will use the money from the debenture to lengthen the maturity profile of its existing debt, which will

improve liquidity and reduce its interest rate risk, Fitch said. The proposed debentures are rated in line with

Singer's existing unsecured redeemable debentures, given that the proposed issue will rank equally with the

company's unsecured creditors, in the event of liquidation.


Company Name Relationship Transaction Quantit Price Date

City Housing & Real Estate [CHOU: LKR14.5] Mr. Janka Ratnayake Chairman & Director Purchase 139,262 14.0 10.04.13


6/8


Agriculture sector performs well in 12: Despite adverse weather conditions in the second half of the year,the Agriculture sector performed better in 2012 than in 2011. Reflecting the expansion in economic

activities, the unemployment rate declined to 4% in 2012 from 4.2% in 2011 according to Governor Central

Bank Ajith Nivard Cabral. He disclosed this at the presentation of the 63rd Annual Report of the Monetary

Board in Colombo recently. The Agriculture sector grew by 5.8% in 2012, recovering from a slow growth of

1.4% in 2011, amidst drought conditions in the third quarter of the year and heavy monsoonal rains andfloods in the latter part of the year. The favourable weather conditions that prevailed in the early part of the

year produced a bountiful paddy harvest in the Maha season, contributing to the recovery of the paddy

despite the significant setback in paddy production in the Yala season due to adverse weather conditions.

The performance of the agriculture sector was also driven by the improvement in vegetable production,

highland crops, livestock and a significant increase in fish production during the year.The fisheries sub sector

also contributed significantly towards the growth in the Agriculture sector while milk production supported

by concerted efforts by the government to promote the dairy industry. In the export agricultural sector,

coconut production increased largely due to the lag effect of favourable weather conditions that prevailed in

major coconut growing areas. However, tea production was adversely affected by the drought while rubber

production declined due to the torrential rainfall.

[Source: www.dailynews.lk]

Sri Lankas HNBs subordinated debt issue rated at A+(lka)(EXP) by Fitch : Sri Lanka based Hatton NationalBank [HNB: LKR166.5] proposed issue of unsecured subordinated redeemable debentures of LKR4 bn has

been assigned an expected national long-term rating of A+(lka)(EXP), by Fitch Ratings Lanka. Fitch says, the

proposed debentures are rated one notch below HNBs National Long-Term rating of AA-(lka) to reflect

their subordinated status. According to the rating agency, HNBs ratings reflect its strong domestic franchise

and satisfactory financial profile, supported by healthy capitalisation levels, average asset quality and

healthy profitability compared with domestic peers. The ratings are, however, constrained by the banks

higher non-performing loan (NPL) concentrations compared with higher-rated peers, most recently driven by

its exposure to weak credits in the Maldives, added Fitch Ratings. It also says, a structurally higher

loan/deposit ratio and a lower mix of current and savings deposit accounts, compared with higher-rated

peers, are also constraints on the ratings. Fitch, However says, a material reduction in HNBs NPL

concentrations or a strong commitment to maintaining Tier 1 capital adequacy ratio and impairment reserve

coverage above higher-rated peers over the long-term, could lead to a rating upgrade.

[Source: www.news360.lk]

Global News

Dollar Drops Before Retail Sales Data; Yen Halts Decline to 100: The dollar dropped against most of itsmajor peers ahead of data forecast to show U.S. retail sales stalled in March, adding to signs the Federal

Reserve will need to maintain stimulus measures. The U.S. currency is set for weekly declines against 15 ofits 16 most-traded counterparts as Pacific Investment Management Co., the worlds biggest bond fund

manager, said the dollar would lose value over the long term. The yen halted a slide that brought it within

0.1% of 100 per dollar before a Group of 20 meeting next week, where Japan could face criticism over

stimulus efforts that have weakened the currency. The dollar fell 0.2% to 99.46 yen as of 6:42 a.m. in London

from yesterday, when it touched a four-year high of 99.95. It dropped 0.1% to USD1.3115 versus the euro.

Europes shared currency declined 0.1% to 130.44 yen. For the week, the dollar was down 1% against the

euro. It has gained 1.9% versus the yen.

[Source: www.bbc.co.uk]


7/8


Kuroda Says Bank of Japan Wont Limit Easing to Two Years: Governor Haruhiko Kuroda said the Bank ofJapan (8301) will not set a time limit for easing and will continue until it achieves sustainable inflation. It is

not appropriate to say that the monetary easing will only last for two years, Kuroda said in a speech in

Tokyo today. The bank will continue with monetary easing, aiming to achieve the price stability target of 2%

, as long as it is necessary. The yen weakened to the lowest level since April 2009 yesterday after Kuroda

said this week he had taken all necessary measures for now to achieve 2% inflation in two years. GoldmanSachs Group Inc. boosted its outlook on Japanese shares on the Bank of Japans credible commitment to

beat deflation, with the Nikkei 225 Stock Average up almost 30% this year. At his first policy meeting, Kuroda

pledged last week to double the monetary base in two years by buying about 7.5 tnn yen of bonds a month,

equivalent to about 70% of new government bond issuances. Such unprecedented asset purchases have

increased volatility in the market.

[Source: www.bloomberg.uk]


8/8


Softlogic Equity ResearchDimantha Mathew

[email protected]

+94 11 7277030

Kavindu Ranasinghe

[email protected]

+94 11 7277031

Imalka Hettiarachchi

[email protected]

+94 11 7277032

Softlogic Equity SalesBranches

Horana

Madushanka Rathnayaka

No. 101, 1/1, Aguruwathota Road, Horana

[email protected]

+94 34 7451000, +94 77 3566465

Negambo

Krishan WilliamsNo. 121, St. Joseph Street Negambo

[email protected]

+94 31 2224714-5, +94 77 3569827

Kurunegala

Bandula Lansakara

No.13, Rajapihilla Mawatha, Kurunegala

[email protected]

+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

[email protected]

+94 11 7277010, +94 77 7689933

Chandima Kariyawasam

[email protected]

+94 11 7277058, +94 77 7885778

Sonali Abayasekera

[email protected]

+94 11 7277051, +94 77 7736059

Thanuja De Silva

[email protected]

+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 veri fied 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 any 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

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Documents

Daily Trade Journal - 12.04.2013.pdf