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Sri Lanka to add dollar-denominated board to Colombo Stock Exchange [Oxford Business Group]

Published on Oxford Business Group | 29 September 2017

The Colombo Stock Exchange (CSE) is finalising plans to launch a dollar trading board, part of a broader strategy to develop Sri Lanka’s bourse into a regional capital markets centre and boost the inflow of foreign funds.

 

Dilshan Wirasekara, CEO of First Capital, speaks to Oxford Business Group (OBG): “Foreign investors have shown confidence in the Sri Lankan economy, as they are determined to access local investment houses.”

Read the full article here.

 

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First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

Sri Lankan stx hit 9-wk high as blue chips gain

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

OCTOBER 6, 2017

COLOMBO, Oct 6 (Reuters) – Sri Lankan shares rose for a sixth straight session on Friday and closed at their highest in nine weeks as blue chips gained.

The Colombo stock index ended 0.34 percent higher at 6,529.05, its highest close since Aug. 4. The bourse rose 1.4 percent for the week, recording its fourth straight weekly gain.

Turnover stood at 922 million Sri Lankan rupees ($6.02 million), in line with this year’s daily average of 923.4 million rupees.

“The market is moving up steadily after breaching the psychological barrier of 6,500,” said Dimantha Mathew, head of research at First Capital Holdings.

“There was some profit-taking but the market is moving up on continued buying.”

Shares of Asiri Hospitals Plc gained 5.2 percent while Hatton National Bank Plc ended 1.1 percent higher and conglomerate John Keells Holdings Plc rose 0.2 percent.

Foreign investors, who bought a net 19.9 billion rupees worth of equities so far this year, were net sellers of 82.3 million rupees worth of shares on Friday.

Sri Lanka’s markets were closed on Thursday for a Buddhist holiday. ($1 = 153.2000 Sri Lankan rupees) (Reporting by Ranga Sirilal; Editing by Amrutha Gayathri)

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

Sri Lankan stx hit 8-wk high on foreign buying in Commercial Bank

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

OCTOBER 4, 2017

COLOMBO, Oct 4 (Reuters) – Sri Lankan shares rose for a fifth straight session on Wednesday and closed at their highest in nearly eight weeks as foreign investors bought shares in top lender Commercial Bank of Ceylon Plc.

Foreign investors bought a net 1.9 billion rupees ($12.4 million) worth of shares, mainly Commercial bank, marking the biggest single-session net foreign buying since April 19 and extending the year-to-date net foreign inflow to 19.9 billion rupees in equities.

The Colombo stock index ended 0.2 percent higher at 6,507.09, its highest close since Aug. 10.

Heavy foreign buying boosted the day’s turnover to 2.4 billion rupees, the highest since Sept. 15 and more than double this year’s daily average of 923.4 million rupees.

Commercial Bank, which surged 4 percent, accounted for about 79 percent of the day’s turnover.

“There was a significant interest in banking and finance shares as the segment is heavily undervalued,” said Dimantha Mathew, head of research at First Capital Holdings.

Shares of Lion Brewery Plc gained 3.9 percent while Lanka ORIX Leasing Company Plc ended 4.1 percent higher.

Sri Lanka’s markets will be closed on Thursday for a Buddhist holiday. ($1 = 153.2000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Amrutha Gayathri)

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

Sri Lankan shares post over 7-wk closing high in high turnover

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

OCTOBER 3, 2017

COLOMBO, Oct 3 (Reuters) – Sri Lankan shares rose for the fourth straight session on Tuesday and closed at their highest level in more than seven weeks, with banks leading the gains.

Turnover hit a two-week high due to buying across the board, while foreign investors continued to purchase Sri Lankan equities.

The Colombo stock index ended 0.36 percent higher at 6,494.22, its highest close since Aug. 10.

The index gained 0.2 percent last week, in its third straight weekly gain.

Turnover stood at 1.3 billion rupees ($8.49 million), its highest since Sept. 20 and well above this year’s daily average of 915.1 million rupees.

Strong buying interest continued to be seen along with foreign buying, said Dimantha Mathew, head of research at First Capital Holdings.

“Investors were buying blue chips and there were all sorts of buying. We expect the overall positive sentiment in the market to continue for a few more days,” he said.

Analysts said the market shrugged off a statement by the International Monetary Fund on Friday that Sri Lanka’s central bank should be ready to tighten monetary policy to contain inflation and credit growth.

Foreign investors bought a net 9.6 million rupees worth of shares on Tuesday, extending the year-to-date net foreign inflow to 18 billion rupees worth of equities.

Shares of Commercial Bank of Ceylon Plc, the country’s biggest listed lender, rose 1.6 percent, Hatton National Bank Plc gained 2.1 percent and Cargills (Ceylon) Plc ended 3.8 percent firmer.

Sampath Bank Plc rose 3.2 percent and conglomerate John Keells Holdings Plc ended up 0.6 percent. ($1 = 153.2000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

Sri Lankan shares hit 7-week closing high; banks gain

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

OCTOBER 2, 2017

COLOMBO, Oct 2 (Reuters) – Sri Lankan shares rose for a third straight session on Monday to end at their highest close in seven weeks led by banks and diversified shares, while continued foreign buying in the market underpinned positive sentiment.

The Colombo stock index ended 0.51 percent up at 6,470.96, its highest close since Aug. 14.

The index gained 0.2 percent last week, recording its third straight weekly gain.

Foreign investors bought a net 11 million rupees ($71,895) worth of shares on Monday, extending their year-to-date net foreign inflow to 18 billion rupees worth of equities.

Turnover stood at 549.4 million rupees, less than two-third of this year’s daily average of 914.8 million rupees.

“We expect the overall positive sentiment in the market to continue for a few more days,” said Dimantha Mathew, head of research at First Capital Holdings.

“High net worth and retail investor participation was seen in plantation sector, though it did not impact the overall market. Meanwhile, institutions and foreign investors were looking to buy blue chips.”

Analysts said the market shrugged off a statement by the International Monetary Fund, which on Friday said Sri Lanka’s central bank should be ready to tighten monetary policy to contain inflation and credit growth.

Shares of Ceylon Tobacco Company Plc rose 3 percent while, Lanka ORIX Leasing Company Plc ended 4 percent firmer while Hatton National Bank Plc gained 2.1 percent.

On Tuesday, the Sri Lankan central bank held its key rates steady, saying past steps were keeping inflation and credit growth under control, as policymakers focus on supporting an economy hit by extreme weather. ($1 = 153.0000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

Sri Lankan stocks close at more than 1-wk high

FIRST CAPITAL’S HEAD OF RESEARCH DIMANTHA MATHEW SPEAKS TO REUTERS

SEPTEMBER 29, 2017

COLOMBO, Sept 29 (Reuters) – Sri Lankan shares edged higher for a second straight session and closed at a more than one-week high on Friday as investors bought beverage and manufacturing shares while continued foreign buying in the market underpinned positive sentiment, brokers said.

The Colombo stock index ended 0.07 percent up at 6,438.24, its highest close since Sept. 21.

The bourse rose 0.2 percent for the week, marking its third straight weekly gain.

Foreign investors bought a net 188 million rupees ($1.23 million) worth of shares on Friday extending the year-to-date net foreign inflow to 18 billion rupees worth of equities.

Turnover stood at 782.3 million rupees, compared with this year’s daily average of about 914.8 million rupees.

“We were expecting margin calls to come in being the month end, but we did not see that,” said Dimantha Mathew, head of research at First Capital Holdings.

“Domestic investor participation was high and they were looking to buy blue chips while foreigners were also active.”

Shares of Lion Brewery Plc gained 5.2 percent, while Sampath Bank Plc advanced 1.8 percent and Richard Pieris Plc rose 3.8 percent.

On Tuesday, the Sri Lankan central bank held its key rates steady, saying past steps were keeping inflation and credit growth under control, as policymakers focus on supporting an economy hit by extreme weather.

The comments on this report are provided by the Capital Markets Research Unit of First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.<

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.