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ASHA PHILLIP SECURITIES LTD
No. 10, Prince Alfred Towers, 2nd Floor, Alfred House Gardens, Colombo 03 Tel 94 11 2429100 Fax 94 11 2429199 www.ashaphillip.net [email protected]
21st May 2012
DAILY STOCK MARKET HIGHLIGHTS
Market Highlights
d of
company
H
Ket
Market Announcement
Market Comments
Amidst the continuing economic volatility in the euro zone, and a probable Greek exit from the euro, lead towards
the current global market condition. However, oil rose for the first time in seven days in New York after China
pledged to boost the nation’s economy. The Colombo bourses experienced a downtrend following the slowdown
from the previous week. The market closed for the first trading day of the week recording negative closures on both
indices. The All Share Price Index dropped 14.37 points to close at 5,207.72 (0.28%) and the more liquid Milanka
Price Index dropped 23.09 points to close at 4,670.50 (0.49%). The total turnover for the day was LKR 192Mn. The
top contributory counters towards the daily turnover were John Keells Holdings PLC (LKR 56.99Mn), Commercial
Bank Of Ceylon PLC (LKR 14.75Mn) and Royal Ceramics Lanka PLC (LKR 12.38Mn).
The dull sentiment in the Colombo bourse continues; resulting in the current thin volumes as to the dreary investor
sentiment. A crossing was recorded on John Keells Holdings PLC (20,200,000). The total Volume traded for the day
was 9.5Mn a 39.42% reduction compared to the previous day; Blue Diamonds JW: PLC(X) (1.1Mn), Panasian Power
PLC (0.98Mn) and Ceylon Tea Brokers PLC (0.46Mn) were the highest traded counters. The negative contributors
outperformed the positive contributors by 118:65. Price gainers were led by Sinhaputhra Finance; and Citrus Leisure
[W] was the top looser. The Foreign investor interest seems to continue, with the market recording a net foreign
inflow of LKR 47.7Mn for the day.
Market Comment
International Market News
Local Market News
Sri Lanka starts exporting maize
Sri Lanka's will export its first consignment of maize on May 22, filling a part of a 10,000 tone order to Taiwan and
Canada as domestic production picks up pace. Ministry of Agricultural expressed that this year Sri Lanka has put
77,718 hectares under maize in the main 'Maha' cultivation season yielding 200,857 tones. In the minor 'Yala' season
15,656 hectares are to be cultivated yielding 47,075 tones of maize. (LBO)
Fast-tracked DVP likely after NSB-TFC fiasco
The stock market is likely to step up the migration to Delivery Versus Payment (DVP) system in a more robust risk
management regime following the fiasco triggered by the default of National Savings Bank (NSB). Daily FT learns the
DVP as well as a more robust risk management system came up for discussion at a joint meeting between Securities
and Exchange Commission (SEC), Colombo Stock Exchange (CSE) and Colombo Stock Brokers Association (CSBA)
officials on Friday. In place of the current Trade+3 market days (T+3) settlement system, the DVP has been proposed
and has been on the cards for several years. (ft.lk)
Farming sector profits rose 25% in 2011 According to the National Farmers Union (NFU), The UK's farming sector saw its overall profit rise by 25% last year.
The NFU expresses that farming's overall profit was £8.84bn in 2011, up £1.75bn. Rising prices for meat and grain on
the international markets have helped to boost farmers' income. On Monday, US wheat prices hit a seven-month high
in trading in Sydney. Last week, wheat prices had risen by 17% as hot, dry weather hit the southern plains of the US.
Food exports grew by 11% last year, which makes food and drink the fourth largest export sector for the UK.
Employment has also been growing in the agricultural sector. According to the most recent government figures,
agriculture employed 303,000 people in 2011, up 3% on 2010. (BBC)
Greece downgraded deeper into junk The credit rating on Greece's government debt was downgraded deeper into junk bond territory on Thursday. Fitch
Ratings cited the increased risk that Greece, operating now with a caretaker government, could be forced to leave the
Eurozone following more elections next month. (CNN Money)
Economic Indicators & Other Statistics
Foreign Stock Exchanges
(Oil Price.net, srilankastockpicks.blogspot.com, pureceylontea, LBO, rrisl)
Asha Phillip Securities Limited – Branch Network
Asha Phillip Securities Limited – Research
Thakshila Hulangamuwa
Vice President – Business Development
0094 113070494
Pasindu Perera
Manager - Research
0094 112429109
Lasantha Senanayake
Research Analyst
Ranuka De Silva
Research Analyst
Head Office: Southern Region (Matara) # 24-1/3, A , 2nd Floor, E.H. Cooray Tower, Anagarika Dharmapala Mw, Matara. Tel: 041 2235191-6
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This document has been prepared and issued by Asha Phillip Securities Ltd, on the basis of publicly available information, internally developed data and other sources, believed to be
reliable. Whilst all responsible care has been taken to ensure that the facts stated are accurate and the opinions given are fair and reasonable neither Asha Phillip Securities Ltd, nor any Director, Officer or employee, shall in any way be responsible for the contents. Asha Phillip Securities Ltd may act as a Broker in the investments which are the subject of this
document or related investments and may have acted upon or used the information contained in this document, or the research or analysis on which it is based, before its publication.
Asha Phillip Securities Ltd., Its Directors, Officers or Employees may also have a position or be otherwise interested in the investments referred to in this document. This is not an offer
to sell or buy the investments referred to in this document.
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