Tag Archives: Kurunegala sri lanka

Sri Lankan shares hit near 10-mth closing low; foreign selling boosts turnover

FIRST CAPITAL’S SENIOR RESEARCH ANALYST, ATCHUTHAN SRIRANGAN, SPEAKS TO REUTERS.

Sri Lankan stocks fell for a third straight session on Wednesday to close at their lowest in nearly 10 months, dragged down by beverages and banking shares, as concerns over rising interest rates and ongoing political instability weighed on sentiment.

Selling by foreign investors in Nestle Lanka boosted turnover, traders said.

The Colombo stock index ended 0.12 percent lower at 6,127.08, its lowest close since April 4.

“Market is not moving up due to lack of confidence among the investors with rising interest rates,” said Atchuthan Srirangan, a senior research analyst with First Capital Equities (Pvt) Ltd.

“Investors might stay away for a while till they see positive news which can move the market up.”

Yields on treasury bills rose 2-5 basis points at a weekly auction on Wednesday to a near five-month high after the central bank governor signalled reduced intervention to defend the rupee.

Rising market interest rates, which move in tandem with t-bill yields, have been a cause for concern, brokers said.

Foreign investors net sold 385 million rupees ($2.56 million) worth of equities on Wednesday, extending the year to date net foreign outflow to 1.75 billion rupees worth shares.

Nestle Lanka, which accounted for around 62 percent of the day’s turnover of 690 million rupees, fell 2.5 percent.

Market heavyweight John Keells Holdings slipped 0.6 percent.

Investors are also concerned about possible political uncertainty as the main coalition partners in the government are contesting local polls separately, analysts said.

($1 = 150.1500 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

 

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.

INSIDE SRI LANKA: First Capital Sees Rupee Slowly Stabilizing

Wire: Bloomberg First Word (BFW) Date: Jan 24 2017 9:23:01

Bloomberg_logo

By Anusha Ondaatjie
(Bloomberg) — Rupee “slowly stabilizing” with pace of foreign selling in LKR bonds easing, says Dimantha Mathew, head of research at First Capital Equities.

* Reserves boosted by Sri Lanka accepting double the amount of development bonds offered for sale last week, which is also helping to cushion rupee’s decline, Mathew said Monday.
* An upcoming loan facility by the government will “boost sentiment” and support currency: Mathew
* NOTE: Sri Lanka plans up to $1B foreign currency term financing
* Rupee little changed at 150.18/dollar; USD/LKR’s MACD, below signal line and trending toward zero
* Yield on 8% govt bonds due Nov. 2018 rose 2bps to 11.38% on Jan. 23, data compiled by Bloomberg show
* Sri Lanka Dec. national consumer price index rose 4.2% y/y

To contact the reporter on this story:
Anusha Ondaatjie in Colombo at anushao@bloomberg.net
To contact the editor responsible for this story:
Tan Hwee Ann at hatan@bloomberg.net

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.

 

Sri Lankan shares end at near 2-week low

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

reuters

Sri Lankan stocks closed at their lowest in nearly two weeks on Monday led by diversified shares as concerns about rising interest rates and the ongoing political stability weighed on sentiment.

The Colombo stock index ended 0.12 percent down at 6,162.05, its lowest close since Jan. 10.

The index hit a two-week high on Jan. 13 after the European Commission proposed increased market access for Sri Lanka as a reform incentive.

“The uncertainty is still there and investors are still in wait-and-see mode as they are worried over the current uncertainty and interest rate volatility,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

Foreign investors net sold 22.3 million rupees ($148,518.15) worth of equities on Monday, extending the year-to-date net foreign outflow to 1.38 billion rupees.

Turnover stood at 661.8 million rupees.  Shares in fixed-line telephone operator Sri Lanka Telecom Plc fell 0.28 percent, while market heavyweight John Keells Holdings fell 0.92 percent.

Rising market interest rates, which move in tandem with t-bill yields, have been a cause for concern, brokers said.

Yields on treasury bills rose 1-16 basis points at a weekly auction on Wednesday to a four-month high after the central bank governor signalled reduced intervention to defend the rupee.

Investors are also concerned about possible political uncertainty as the main coalition partners in the government are contesting local polls separately, analysts said.

($1 = 150.1500 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

 

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.

MARKET UPDATE ON ADA DERANA ENGLISH NEWS – 2017.01.23

Dimantha 23

FC Head of Research Dimantha Mathew with the market update – between 10.40 mins to 11.17 mins.

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.

Sri Lankan shares end higher on foreign buying

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

cse

Sri Lankan stocks closed higher on Friday led by financials, after hitting a more than one-week closing low in the previous session, on increased appetite for risky assets by foreign investors.  The Colombo stock index ended up 0.08 percent at 6,169.57, edging up from its lowest close since Jan. 10 hit on Thursday.

The index hit a two-week high on Jan.13 after the European Commission proposed increased market access for Sri Lanka as a reform incentive.

Foreign investors net bought 433.4 million rupees ($2.89 million) worth equities on Friday, the highest net inflow since Dec. 8, although they have net sold 1.35 billion rupees worth of shares so far this year. Turnover stood at 731.3 million rupees.

Shares in biggest listed lender Commercial Bank of Ceylon Plc rose 1.50 percent, while market heavyweight John Keells Holdings rose 0.57 percent.

“We have seen a foreign inflow after a while and that boosted the turnover and the bulk of the trades were from the foreign trading. Rest of the market was silent,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

“Because the sentiment is not that great, many investors are on a wait and see approach.”

Rising market interest rates, which move in tandem with t-bill yields, have been a cause for concern, brokers said.  Yields on treasury bills rose 1-16 basis points at a weekly auction on Wednesday to a four-month high after the central bank governor signalled reduced intervention to defend the rupee currency.

Investors are also concerned about possible political uncertainty as the main coalition partners in government are contesting local polls separately, analysts said.

($1 = 149.8000 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

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.

INSIDE SRI LANKA: First Capital Sees Volatile Rates During 1H

Wire: Bloomberg First Word (BFW) Date: Jan 10 2017 8:40:25

Bloomberg_logo

 

By Anusha Ondaatjie
(Bloomberg) — “Dangerously low” foreign reserves around $6b, foreign debt payments of over $4.7b, along with maturing rupee bonds and Sri Lanka Development Bonds may lead to volatile rate conditions, says Dimantha Mathew, head of research at First Capital.

* LKR477b of rupee bond mature during Jan–Jul 2017, $1.8b Sri Lanka Development Bond mature from Jan-Aug 2017, he wrote in e-mail Monday
* Rupee little changed at 149.90/dollar; USD/LKR’s MACD, signal line both above zero
* Yield on 11% govt bonds due August 2021 rose 1bp to 12.1% Jan. 9, data compiled by Bloomberg show, after government sold LKR55b of treasury bonds
* Central bank plans to auction LKR24b of treasury bills Tuesday
To contact the reporter on this story:
Anusha Ondaatjie in Colombo at anushao@bloomberg.net
To contact the editor responsible for this story:
Tan Hwee Ann at hatan@bloomberg.net

 

INSIDE SRI LANKA: First Capital Sees LKR Weakening Through 2017

Wire: Bloomberg First Word (BFW) Date: Dec 28 2016 9:32:12

Bloomberg_logo

By Anusha Ondaatjie
(Bloomberg) — Reduced political, economic uncertainty and an external environment supportive of inflows are factors required to amend expected weakness, Dimantha Mathew, head of research at First Capital, writes in report.

* Says foreign reserves dangerously low
* Rupee down 0.1% to 149.65/dollar; USD/LKR’s MACD above zero and signal line
* Yield on 10.75% govt bonds due March 2021 fell 7bps to 12.08% on Dec. 27, data compiled by Bloomberg show, ahead of Wednesday’s govt sale of 11.5b rupees of treasury bills
* Sri Lankan interest rates to be volatile “within 150bps-200bps strip” over Jan.-July 2017: First Capital
* Recommends investing in shorter tenors of debt to counter risk in the system and prevent capital erosion

To contact the reporter on this story:
Anusha Ondaatjie in Colombo at anushao@bloomberg.net
To contact the editors responsible for this story:
Tan Hwee Ann at hatan@bloomberg.net Shikhar Balwani