ASHA PHILLIP SECURITIES LTD DAILY STOCK MARKET HIGHLIGHTS J No. 10, Prince Alfred Towers, 2 nd Floor, Alfred House Gardens, Colombo 03 Tel 94 11 2429100 Fax 94 11 2429199 www.ashaphillip.net Email-research@ashaphillip.net 15 th May 2012
Market Highlights
Market Announcement PIRAMAL GLASS CEYLON PLC (GLAS) - Dividend Announcement (Amended) d GLAS of has declared Rs. 0.36 per share as the First & Final Dividend based on the XD date of 13.Aug.2012 Payment will be arranged on 21.Aug.2012 company MERCHANT BANK OF SRI LANKA PLC (MBSL) - Dividend Announcement MBSL has declared a Rs. 1.25 per share as the final dividend; the dates are still to be announced. Market Comment Market Comments With the continuing economic volatility in the euro zone, the Colombo bourse closed the trading day recording positive closures for the second consecutive day. The All Share Price Index gaining 9.55 points to close at 5,125.86 (0.19%) and the Milanka Price Index gained 0.17 points to close at 4,616.89 (0.17%). The total turnover for the day was LKR 402.5Mn. H The top contributory counters towards the daily turnover were John Keells Holdings PLC (LKR 175.6Mn), Distilleries Company PLC (LKR 47.2Mn) and Commercial Bank Of Ceylon PLC (LKR 35.3Mn). The dull sentiment in the Colombo bourse continues; resulting in the current thin volumes as to the dreary investor sentiment. Crossings were recorded on Distilleries Company PLC (LKR 20,128,000) and John Keells Holdings PLC (87,730,144). The total Volume traded for the day was 30.9Mn; SMB Leasing PLC(X) (13.93Mn), AMANA Takaful PLC (5Mn) and Dialog Axiata PLC (2.4Mn) were the highest traded counters. The negative contributors outperformed Ket the positive contributors by 95:86. Price gainers were led by Nanda Finance; and Citrus Leisure [W] was the top looser. The Foreign investor sentiment seems to have turnaround, with the market recording a net foreign outflow of LKR 54.9Mn for the day.
Local Market News Philippine - Sri Lanka economic relations strengthened Ms. Erlinda F. Basilio, Under Secretary of the Ministry of Foreign Affairs of Philippines met, Minister of Economic Development Basil Rajapaksa today at the Ministry of Economic Development. Ms. Basilio said Philippine will soon establish a residency embassy in Sri Lanka since economic cooperation between the two countries has enhanced rapidly. She said the Philippines investor community is interested in investing ICT, port and telecommunication industries in Sri Lanka. The two parties agreed to establish a machinery to exchange trade and business delegation. Sri Lanka s leading exports to the Philippines consist of fabrics, tyres, tea, gloves, apparel and clothing accessories. The Sri Lankan Airline will expand its flight services to the Philippine soon and that will help boost trade, investment and tourism between the two countries. (dailynews.lk) SriLankan Airlines expands operations in Middle East Sri Lanka's national carrier, SriLankan Airlines plans to increase its flights and frequencies to the Gulf countries as there is a substantial increase in the passenger traffic from the Middle East destinations. Chairman of SriLankan Airlines Nishantha Wickremasinghe has told the Arabian Travel Market held in Dubai recently that the commencement of direct flights to Dubai and Kuwait from the 1st of May was a step towards increasing capacity and connectivity from two of their major markets to Colombo. The launch of daily direct services to Kuwait, which was earlier routed through Dubai, has ensured speedier outbound travel for passengers to Colombo and beyond, the Chairman has stated. (colombopage.com) International Market News German economy posts 0.5% growth in first quarter The German economy returned to growth in the first three months of the year with a better-than-expected 0.5% rise in GDP, official figures have shown. In the final quarter of last year, the German economy contracted by 0.2%, its first dip since 2009. Meanwhile, the French economy recorded zero growth in the first quarter, after growth of 0.1% at the end of 2011. Figures released later on Tuesday are expected to show that the eurozone as a whole has returned to recession. Data also showed that the Italian economy fell deeper into recession after contracting by 0.8% in the first quarter, slightly worse than analysts had expected. The economy shrank by 0.7% in the previous quarter. (bbc.co.uk) Foreign investment in China falls for sixth month Foreign direct investment (FDI) in China fell for a sixth straight month in April. Investment fell 0.7% from a year earlier to $8.4bn ( 5.2bn), said the Ministry of Commerce in Beijing. In March investment dropped by 6.1%. A ministry spokesman said the fall was partly because of the lacklustre global economy. Data released last week also indicated that China's economy is slowing. Exports and imports during April were below expectations, and growth in industrial output was the slowest it has been since 2009. On 12 May China cut bank reserve requirements - the amount of money banks have to keep in reserve - in an effort to spur lending. Analysts said the recent data indicates more measures aimed at boosting growth could be on the way. (bbc.co.uk)
Economic Indicators & Other Statistics
Foreign Stock Exchanges (Oil Price.net, srilankastockpicks.blogspot.com, pureceylontea, LBO, rrisl)
Asha Phillip Securities Limited Research Thakshila Hulangamuwa Vice President Business Development thakshi@ashaphillip.net 0094 113070494 Lasantha Senanayake Research Analyst lasantha@ashaphillip.net Pasindu Perera Manager - Research pasindu@ashaphillip.net 0094 112429109 Ranuka De Silva Research Analyst ranuka@ashaphillip.net Asha Phillip Securities Limited Branch Network Head Office: Southern Region (Matara) # 24-1/3, A, 2nd Floor, E.H. Cooray Tower, Anagarika Dharmapala Mw, Matara. Tel: 041 2235191-6 Branch Office: Matara # 38, Station Road, Matara. Tel. 041 2223940 Branch Office: Negombo # 142, Greens Road, Negombo. Tel. 031 2227474 Branch Office: Gampaha # 21, Courts Road, Gampaha. Tel. 033 2234888 Branch Office: Kiribathgoda Udeshi City Shopping Complex, 2nd Floor, 2-6, No. 94, Makola Road, Kiribathgoda. Tel. 011 2908511 Branch Office: Kurunegala No. 6, 1st Floor, Union Assurance Bldg, Rajapihilla Mawatha, Kurunegala. Tel. 037 2234777 Branch Office: Kandy Ceybank House, # 88, Dalada Vidiya, Kandy. Tel. 081 4474118 Branch Office: Galle # 16, Sri Dewamittha Mw, Galle. Tel. 091 2233558 Branch Office: Anuradhapura # 9, Maithripala Senanayaka Mw, Bank Site, New Town, Anuradhapura. Tel. 025 2234705 Branch Office: Embilipitiya # 61, Sampath Bank Bldg. Main Street, Embilipitiya. Tel. 047 2261950 Branch Office: Batticaloa #22B Bar Road, Batticaloa, Tel: 065 2228029 Branch Office: Jaffna 1st Floor, # 398/1, Hospital Road, Jaffna. Tel: 021 2221614
Branch Network Branch Office: Vavuniya 1st Floor, # 60, 1st Cross Street, Vavuniya. Tel: 024 2226031 Branch office: Kollupitiya # 60,5th Lane, Colombo 03, Tel: 011 3009826 Branch Office: Badulla # 33/3, 2nd Floor, Modern Complex, Badulla. Tel: 055 2222009 Branch Office: Wellawatte # 3-1/2, Collingwood Place, Colombo 06. Tel: 0112 362939 Branch Office: Panandura # 465, Galle Road, Panandura. Tel: 038 2234780 Branch Office: Ambalanthota # 153, Tissa Road, Ambalanthota. Tel: 047-2225170 Branch Office: Wattala # 118, Negombo Road, Wattala. Tel: 011-2930099 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.