Tag Archives: mergers and

Sri Lankan shares close at 3-week high; Keells leads

DIMANTHA MATHEW, HEAD OF RESEARCH AT FIRST CAPITAL HOLDINGS PLC, SPEAKS TO REUTERS

JULY 20, 2018

COLOMBO, July 19 (Reuters) – Sri Lankan shares rose on Thursday and marked their highest close in nearly three weeks, led by market heavyweight John Keells Holdings, as foreign buying boosted sentiment.

The Colombo stock index ended 0.36 percent firmer at 6,183.02, its highest close since June 29.

“We saw some renewed interest coming into the market with both local and foreign investors returning,” said Dimantha Mathew, head of research, First Capital Holdings.

“Falling commodity prices are also helping.”

Turnover stood at 634.7 million rupees ($3.97 million), less than this year’s daily average of 887.7 million rupees.

Foreign investors bought net equities worth 73.7 million rupees on Thursday, but they have been net sellers of stocks worth 2.6 billion rupees in the year so far.

A downward revision in economic growth estimate by the central bank has also hurt sentiment, analysts said.

Economic growth in 2018 is likely to be between 4 percent and 4.5 percent, falling short of an earlier estimate of 5 percent, Central Bank Governor Indrajit Coomaraswamy said earlier this month.

Shares in conglomerate John Keells Holdings Plc rose 1.5 percent while biggest listed lender Commercial Bank of Ceylon Plc gained 2.1 percent and Nestle Lanka Plc ended 2.1 percent higher. ($1 = 160.0000 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

First Capital’s Atchuthan Sriranga with the Market Review on Ada Derana – 11.12.2017

First Capital
First Capital’s Atchuthan Sriranga with the Market Review on Ada Derana

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.