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Today 5,753.56 3,319.01 Point Change + 25.09 + 13.74 % Change 0.44 % p 0.42 % p
2.0% 7.6% 1,647.5 797.6 38.0 38.1 2,206.8 17.3 1,204.1 1,186.9 5.5
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]
continued to be the highlight of the day with 52week high prices being recorded Union Bank (+6.2%), National Development Bank (+0.2%) and DFCC (+2.9%) while further strong buying was noted in Sampath Bank (+0.4%), Commercial Bank (+1.6%) and Pan Asia Bank (+6.1%). All counters ended in the green with strong gains during the day. Active Retail Interest: Retail investors seemed to have grown in confidence entering the banking sector on a strong note. Most smaller banks generated considerable retail interest during the day.
Statistical Look Up
Treasury Bill (%) 3 months 6 months 12 months AWPLR Excess Liquidity (LKR 'bn) Inflation (%) Mar-13 as at 04.04.2013 YoY Change Annual Avg Week ending 05.04.2013 9.26 11.35 13.77 -36.44 7.5 8.8 10.25
5800 5750
Index
ASPI
3350 3300
200.0
Volume ('mn)
Index
S&P SL20
Turnover
Volume
Today All Share Price Index S&P SL20 Index 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 Beverage, Food & Tobacco Construction & Engineering Diversified Healthcare Hotels & Travels Land & Property Manufacturing Plantation Telecom 5,753.6 3,319.0 1,647.5 13.0 38.0 229 2,206.8 1,204.1 1,186.9 17.3 15.5 2.1 2.3 Today 13,292.6 16,094.4 2,698.9 1,892.5 597.6 3,343.9 474.1 2,573.5 787.0 170.7
Pre Day 5,728.5 3,305.3 931.1 7.4 21.7 228 2,197.2 366.2 38.2 328.1 15.5 2.1 2.3 Pre Day 13,120.3 16,085.6 2,654.8 1,895.4 583.3 3,318.6 472.3 2,578.5 793.9 170.8
Change % 0.44% p 0.42% p 76.95% 76.95% 74.68% 0.44% 0.44% 228.79% 3009.87% -94.74% 0.44% 0.44% 0.00% % Change 1.31% 0.05% 1.66% -0.16% 2.45% 0.76% 0.38% -0.19% -0.87% -0.06% p p p q p p p q q q
Last Week 5,735.7 3,293.6 2,039.5 16.1 168.2 227 2,205.1 595.2 629.0 -33.8 15.5 2.1 2.3 Last Week 13,227.4 16,057.7 2,695.8 1,888.9 581.7 3,306.3 476.1 2,590.0 788.7 169.8
% WoW Change 0.31% 0.77% -19.22% -19.22% -77.43% 0.88% 0.08% 102.30% 88.69% -151.14% 0.08% 0.08% 0.00% % WoW Change 0.49% 0.23% 0.11% 0.19% 2.73% 1.14% -0.44% -0.64% -0.21% 0.54% Page | 2.
% of Mkt Cap 9.6% 6.7% 3.9% 4.2% 3.6% 3.9% 3.3% 3.4% 2.3% 2.2% 2.2% 1.2% 1.5% 1.7% 1.7% 1.4%
Volume 106,544 406 20,060 6,052 339 336,465 204 75,641 5,440 2,370 3,901 7,474 300 61,572 400,579 1,001
Turnover LKR ('000) 26,420.95 318.46 8,926.44 10,415.49 14.60 37,094.72 143.97 687.47 881.75 283.81 635.54 414.93 45.46 8,573.15 92,217.72 70.84
Turnover USD ('000) 209.20 2.52 70.68 82.47 0.12 293.71 1.14 5.44 6.98 2.25 5.03 3.29 0.36 67.88 730.17 0.56
Intraday Intraday High (LKR) Low (LKR) 248.50 795.00 445.00 1,750.00 43.80 111.50 708.00 9.10 162.40 119.80 163.90 56.50 151.80 140.00 231.00 71.50 247.00 770.00 440.00 1,720.00 43.00 109.00 705.40 9.00 161.00 119.70 162.10 55.00 151.00 135.00 228.00 70.00
Close 248.20 785.70 440.20 1,721.40 43.50 111.50 705.70 9.10 162.00 119.80 163.00 55.00 151.00 139.90 230.60 70.80
Price Gainers
Company
CEYLON LEATHER [W 0013] S M B LEASING [X] CEYLON LEATHER [W 0014] KALAMAZOO TRADE FINANCE
Price Losers
Today 2.70 0.40 2.80 2,625.40 13.00 Change + 0.80 + 0.10 + 0.60 + 435.30 + 1.40 % Change Company 42.11% 33.33% 27.27% 19.88% 12.07%
CEYLON PRINTERS MIRAMAR PALM GARDEN HOTL DUNAMIS CAPITAL PARAGON
Most Active
Company
NATIONS TRUST UNION BANK MERCHANT BANK CIFL TOKYO CEMENT
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Currency Board
Local - Indicative Rate against LKR
Currency Australia China EU India Japan Malaysia Russia Saudi Arabia Singapore Switzerland Thailand UK USA Dollar Yuan Euro Rupee Yen Ringgit Rouble Riyal Dollar Franc Baht Pound Dollar Indicative Rate 04.04.2013 132.29 20.37 162.21 2.32 1.36 40.99 3.99 33.68 101.96 133.58 4.29 191.09 126.30
Announcements
Dividends
Company Ceylon Grain Elevators PLC 0 0 0 0 0 0 0
Company Description
DPS (LKR) 0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Proportion 0
Payment Date 23-05-2013 1/0/1900 1/0/1900 00-Jan-00 00-Jan-00 00-Jan-00 00-Jan-00 00-Jan-00
Renunciation
Source: www.cbsl.gov.lk
Global Markets
Index AMERICA Dow Jones Industrial Average S&P 500 Index EUROPE EURO STOXX 50 Price EUR FTSE 100 Index ASIA Nikkei 225 Hong Kong Hang Seng Index
* Time is as at ET
Source: www.bloomberg.com
Commodity Markets
Commodity ENERGY Crude Oil (Brent) Crude Oil (WTI) AGRICULTURE ICE Cotton #2 CBOT Wheat METALS COMEX Gold COMEX Silver COMEX Copper
* Time is as at ET
Units USD/bbl. USD/bbl. USd/lb. USd/bu. USD/t oz. USD/t oz. USd/lb.
Source: www.bloomberg.com
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CSE Announcements
Aitken Spence Plantation Managements Limited- Introduction: The CSE has approved, in-principle, an Application submitted by the above Company, for the listing of its Ordinary Voting Shares on the Diri Savi Board of the CSE. 21,300,000 Ordinary Voting Shares of the Company will be listed by way of an Introduction. The said Application was received by the CSE prior to the discontinuation of Introductions as a method of listing by way of SEC Directive dated 2nd March 2012, which Directive is effective from April 2012. The Ordinary Voting Shares will be granted a listing on or before the 3rd market day upon receipt of the Declaration from the Company. Touchwood Investments [TWOD: LKR5.6]: Mrs. Jamburegoda Gamachchige Swarna Maloney was appointed as Vice Chairperson of TWOD w.e.f 2nd April 2013. Mr. Charles Nazerias Jeffry Ebert was appointed as CEO w.e.f 4th April 2013. Kegalle Plantations [KGAL: LKR112.4]: R P C Plantation Management Services Private Limited has purchased 242k shares of the company at a total consideration of LKR27,439,142 on the 2nd of April 2013. Consequently, the Group shareholding in KGAL has increased to 74.06%. Nation Lanka Finance [CSF: LKR9.0]: Mr. P D Charith S Amarasekara has been appointed as CEO w.e.f 1st April 2013.
Local News
Banks cut gold exposure on possible price crash: possible global gold price crash as predicted by certain analysts, either this year or next year, has prompted Sri Lankan banks to take a more cautious approach in carrying out pawning businesses. The market leader in pawning business, state-owned Peoples Bank, which has pawning advances amounting to as much as 40% of the total loans and advances, has already taken measures to minimize its exposure to a possible gold price crash in view of the falling international prices. In anticipation of possible global price decline, we have brought down our pawning advances to around 35% (from the total advances) and we are daily monitoring the situation as a control measure. We no more encourage gold-backed loans as we did before, Peoples Bank Deputy General Manager Retail Banking G.P.R. Jayasinghe said. As of September 30, 2012, the total outstanding pawning advances of the bank stood at a staggering Rs.190 billion, even bigger than the total balance sheets of some smaller banks. [Source: www.dailymirror.lk] Capital market to contribute USD50 bn to GDP by 2016: The capital market is expected to contribute USD 50 bn for the countrys GDP by year 2016, therefore the Stock Brokers should be geared to handle the highest number of deposits in the future, Director General Security and Exchange Commission (SEC) Dr Nalaka Godahewa said. Sri Lankas GDP would be USD100 bn by 2016, out of which 50% should contribute from the capital market. Therefore, each stock broker should be geared to manage many retail accounts Dr Godahewa said. He said that right now the countrys total GDP was USD60 bn and the capital markets contribution to the GDP was only 30%. There are more than 220,000, accounts in the Capital Depository System, he said. At present the country has 29 stock brokering companies, each company should be geared to manage at least 20,000 retail deposits. Therefore all stakeholders should work together to make a vibrant stock market to achieve that target. To popularize the capital market education aspect plays a pivotal role because our present market is a speculative market than the research base market, he said. [Source: www.dailynews.lk] Malaysian Airlines adds frequencies to Colombo: Malaysian airlines in a bid to meet the growing passenger demand have added two additional frequencies to Colombo. This would increase their weekly flights to Colombo to ten. Malaysian Airlines General Manager, in Sri Lanka and Maldives, Shah Irwan Shahizan said that currently they are maintaining high passenger growth at around 20% and they also see an increased Softlogic Equity Research Page | 5
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demand from both countries in the future. "This is the reason why we decided to increase flights to Colombo", he added. The two new frequencies would be day flights and the airline would be using a Boeing 737-800 flights departing from Colombo at 01 00 hours and arriving in Kuala Lumpur at 07 10 hours and the Kuala Lumpur- Colombo day flights will depart at 1110 hours and arrive at 1200 hours. This would offer 480 seats per week for a route. "The daytime frequencies will offer better travel options for passenger," he said. [Source: www.dailynews.lk]
Sri Lanka should push harder to cut peak power demand: Sri Lanka should push harder on cutting peak power demand as 'average' costs are meaningless and trimming the most expensive 5.0 percent of energy has the potential to eliminate losses at Ceylon Electricity Board, a think tank has said. About 17% of the generation costs of state-run Ceylon Electricity Board went towards the most expensive last five percent of energy purchased, LirneAsia, a regional think tank said in public consultation called by the Public Utilities Commission of Sri Lanka. The CEB also spent 17% of its costs on the least expensive energy, which amounted to 50% of the total energy purchased. "Thus, if energy purchases could be reduced by 5 per cent, it is possible that the losses of the CEB could be eliminated," LirneAsia chair Rohan Samarajiva said. "This is the importance of managing demand. Not all the demand needs to be reduced in absolute amounts. Shifting it to off-peak, (when the sole base load coal plant, producing inexpensive energy is asked to back down) could also provide substantial relief. If peak demand is lowered, the overall costs of supplying electricity will be reduced." [Source: www.lbo.lk]
Global News
Euro-Area March Services Output Contracts More Than Estimated: Euro-area services output contracted more than initially estimated in March as the economy struggled to pull out of the recession An index of services activity based on a survey of purchasing managers in the industry declined to 46.4 last month from 47.9 in February, London-based Markit Economics said today. Thats below an initial estimate of 46.5 published on March 21. A reading below 50 indicates contraction. A composite index for the services and manufacturing industries fell to 46.5 from 47.9, matching the initial estimate, Markit said. The composite gauge has been below 50 for 14 straight months. The recession has definitely eased, as there has been progress, led by Germany, said Christian Schulz, senior economist at Berenberg Bank in London and a former ECB official. But the political uncertainties will weigh on confidence, and thus growth. Now with Italy and Cyprus the recovery will be a bit more wobbly. [Source: www.bloomberg.com] Japan bank's Haruhiko Kuroda in aggressive growth move: The Bank of Japan has said it will dramatically expand the country's money supply, as it tries to stimulate growth in the world's third-largest economy. The central bank vowed to boost an asset purchase programme and meet a 2% inflation target in two years, after a two-day meeting, the first chaired by new governor Haruhiko Kuroda. Japan's economy has been battling more than a decade of falling prices. Mr. Kuroda had previously said he would do "whatever it takes" to drive growth. "The BOJ will conduct money-market operations so that the monetary base will increase at an annual pace of about 60tn yen to 70tn yen (USD645 bn to USD755 bn)," the central bank said in a statement. This increase in the money supply is expected to stoke inflation. Many analysts have said that falling prices discourage people from spending, and companies from investing, and that has trapped Japan in a cycle of sluggish growth and recession. [Source: www.bbc.co.uk]
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Branches
Horana Madushanka Rathnayaka No. 101, 1/1, Aguruwathota Road, Horana madushanka.rathnayaka@equity.softlogic.lk +94 34 7451000, +94 77 3566465 Negambo Krishan Williams No. 121, St. Joseph Street Negambo krishan.williams@equity.softlogic.lk +94 31 2224714-5, +94 77 3569827 Kurunegala Bandula Lansakara No.13, Rajapihilla Mawatha, Kurunegala bandula.lansakara@equity.softlogic.lk +94 37 2232875, +94 77 3615790 Matara Lalith Rajapaksha nd No.8A, 2 Floor, FN Building, Station Road, Matara lalith.rajapaksha@equity.softlogic.lk +94 41 7451000, +94 77 3031159
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