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Acuity Stockbrokers Research | Sri Lanka Equities

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Acuity Stockbrokers Research | Sri Lanka Equities ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 20 Feb 2020 Indices vs. Turnover (17th Feb – 20th Feb) ASPI Closes Flat Amid Market Volatility… Sri Lanka Records a B-o-P Surplus in 2019… 5,900 2,950 ASPI 5,880 S&P SL20 2,910 S&P SL20 S&P ASPI ^ 0.02% | S&P SL20 ^ 0.54% 5,860 2,870 ASPI 5,840 2,830 The Bourse ended the week… Cont. P2 5,820 2,790 5,800 2,750 17-Feb 18-Feb 19-Feb 20-Feb Foreign investors closed the week... Cont. P3 0.75 0.60 0.45 Sri Lankan equities gained ….… Cont. P4 0.30 LKR Bn) LKR (Turnover 0.15 0.00 Economic Snapshot………… P5 17-Feb 18-Feb 19-Feb 20-Feb KEY STATISTICS Week ending 20-Feb 14-Feb +/- ASPI 5,830.51 5,829.21 0.02% S&P SL20 2,788.31 2,773.26 0.54% Banks 664.54 653.93 1.62% Capital Goods 830.26 831.53 -0.15% Food, Beverage & Tobacco 861.41 856.63 0.56% Consumer Durables & Apparel 921.80 969.00 -4.87% Materials 634.67 638.78 -0.64% Diversified Financials 872.01 885.14 -1.48% Turnover (LKR Bn) 1.80 2.21 -18.89% Foreign Buying (LKR Mn) 242.15 499.50 -51.52% Foreign Selling (LKR Mn) 364.62 851.01 -57.15% Daily Average Turnover (LKR Bn) 0.45 0.44 1.39% Daily Average Foreign Buying (LKR Mn) 60.54 99.90 -39.40% Daily Average Foreign Selling (LKR Mn) 91.15 170.20 -46.44% TOP 10 GAINERS TOP 10 LOSERS Opening Closing WoW % Opening Closing WoW % Company Code Company Code Price Price Change Price Price Change TESS AGRO[NON-VOTING] TESSX 0.4 0.5 25.0% S M B LEASING SEMBN 0.5 0.4 -20.0% CITRUS LEISURE REEFN 9.7 11.5 18.6% SINGHE HOSPITALS SERVN 1.7 1.5 -11.8% RADIANT GEMS RGEM 18.0 21.2 17.8% TANGERINE TFILN 42.8 38.7 -9.6% BLUE DIAMONDS BLUEN 0.6 0.7 16.7% MAHAWELI REACH HPL N 14.3 13.0 -9.1% MULLERS MULLN 0.8 0.9 12.5% HORANA LALUN 21.9 20.0 -8.7% BROWNS BEACH BBH N 9.4 10.4 10.6% HOTEL SIGIRIYA KVALN 56.8 52.0 -8.5% AGALAWATTE AGALN 14.4 15.9 10.4% TEEJAY LANKA HDFCN 40.7 37.6 -7.6% ON'ALLY ONALN 30.1 33.2 10.3% ASIA ASSET SLNDN 8.0 7.4 -7.5% SERENDIB HOTELS SHOTN 20.8 22.9 10.1% SINGER SRI LANKA GHLLN 34.6 32.2 -6.9% VIDULLANKA VLL N 4.6 5.0 8.7% HATTON KHL N 5.9 5.5 -6.8% 1 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 20 Feb 2020 Market Review Indices | Liquidity (in Volume Terms) | The Bourse ended the week on a positive note as the The Capital Goods Industry Group dominated the ASPI increased by 1.30 points (or +0.02%) to close at market in terms of share volume, accounting for 28.41% 5,830.51 points, while the S&P SL20 Index also (or 20.15Mn shares) of total volume, with a value increased by 15.05 points (or +0.54%) to close at contribution of LKR 0.51Bn. The Food Beverage & 2,788.31 points. Tobacco Industry Group followed suit, adding 25.77% to total turnover volume as 18.28Mn shares were Turnover & Market Capitalization | exchanged. The Industry Group’s volume accounted for Access Engineering was the highest contributor to the LKR 0.28Bn of total market turnover value. The Consumer Durables & Apparel Industry Group week’s turnover value, contributing LKR 0.30Bn or 16.69% of total turnover value. Teejay Lanka followed meanwhile, contributed 8.52Mn shares (or 12.02%), suit, accounting for 14.49% of turnover (value of LKR amounting to LKR 0.28Bn. 0.26Bn) while Commercial Bank contributed LKR 0.21Bn to account for 11.57% of the week’s turnover. Top Gainers & Losers | Total turnover value amounted to LKR 1.80Bn (cf. last Tess Agro [NV] was the week’s highest price gainer; week’s value of LKR 2.21Bn), while daily average increasing 25.0% W-o-W from LKR0.40 to LKR0.50 while Citrus Leisure (+18.6% W-o-W), Radiant Gems turnover value amounted to LKR 0.45Bn (1.39% W-o- W) compared to last week’s average of LKR 0.44Bn. (+17.8% W-o-W) and Blue Diamonds (+16.7% W-o-W) Market capitalization meanwhile, increased by 0.02% were also amongst the top gainers. W-o-W (or LKR 0.62Bn) to LKR 2,715.49Bn cf. LKR 2,714.88Bn last week. SMB Leasing was the week’s highest price loser; declining 20.0% W-o-W to close at LKR0.40. Singhe Liquidity (in Value Terms) | Hospitals (-11.8% W-o-W), Tangerine (-9.6% W-o-W) The Banks Industry Group was the highest contributor and Mahaweli Reach (-9.1% W-o-W) were also amongst to the week’s total turnover value, accounting for the top losers over the week. 30.73% (or LKR 0.55Bn) of market turnover. Industry TOP 10 TURNOVERS Group’s turnover was driven primarily by Commercial Opening Closing Value Bank, Sampath & HNB which accounted for 83.68% of Company Code the sector’s total turnover. The Capital Goods Industry Price Price (Rs. Mn) Group meanwhile accounted for 28.59% (or LKR ACCESS ENG SL AEL N 20.6 20.8 299.6 TEEJAY LANKA TJL N 40.7 37.6 260.1 0.51Bn) of the total turnover value, with turnover driven COMMERCIAL BANK COMBN 85.5 90.0 207.8 primarily by Access Engineering, Hemas Holdings & JKH SAMPATH SAMPN 166.9 166.0 163.3 which accounted for 91.82% of the sector turnover. The HNB HNB N 156.5 156.0 90.6 Consumer Durables & Apparel Industry Group was also HEMAS HOLDINGS HHL N 72.5 70.4 87.8 amongst the top sectorial contributors, contributing JKH JKH N 155.0 155.5 84.0 15.43% (or LKR 0.28Bn) to the total turnover, with MELSTACORP MELSN 37.1 36.0 81.8 turnover driven primarily by Teejay Lanka accounting BROWNS INVSTMNTS BIL N 5.0 5.0 65.5 CARGILLS CARGN 190.0 190.0 58.8 for 93.85% of the total turnover. 2 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 20 Feb 2020 Market Review (Cont’d) Net Foreign Purchases (14 Feb-20 Feb) Net Foreign Sales (14 Feb-20 Feb) COMMERCIAL BANK[X.0000] HOTEL SIGIRIYA Volume Change ('000s) Volume Change ('000s) ACCESS ENG SL SIERRA CABL TOKYO CEMENT EXPOLANKA MILLENNIUM HOUSE LAUGFS POWER[X.0000] RICHARD PIERIS LANKEM DEV. DIALOG JKH CENTRAL FINANCE HNB HEMAS HOLDINGS SAMPATH RENUKA AGRI COMMERCIAL BANK* MELSTACORP* TEEJAY LANKA* 0 200 400 600 800 1,000 (400) (320) (240) (160) (80) - *Volume change of Dialog (9.93Mn Shares) & Union Bank (1.24Mn Shares) from 15th Nov – 22nd Nov not displayed. Foreign investors closed the week in a net selling position with total net outflow amounting to LKR 0.12Bn relative to last week’s total net outflow of LKR 0.35Bn (+65.2% W-o-W). Total foreign purchases decreased by 51.5% W-o-W to LKR 0.24Bn from last week’s value of LKR 0.0.50Bn, while total foreign sales amounted to LKR 0.36Bn relative to LKR 0.85Bn recorded last week (-57.2% W-o-W). In terms of volume, Melstacorp & Renuka Agri led foreign purchases while Teejay Lanka & Commercial Bank led foreign sales. In terms of value, Melstacorp & Hemas Holdings led foreign purchases while Commercial Bank & Teejay Lanka led foreign sales. Net Foreign Purchases (By Transaction Value) Net Foreign Sales (By Transaction Value) Foreign Holding (%) Value* Foreign Holding (%) Value* Company Net Change Company Net Change 20/02/20 14/02/20 (LKR. Mn) 20/02/20 14/02/20 (LKR. Mn) MELSTACORP 25.74% 25.56% 2,154,038 77.55 COMMERCIAL BANK 27.37% 27.50% (1,223,948) (110.16) HEMAS HOLDINGS 27.04% 26.95% 521,155 36.69 TEEJAY LANKA 47.05% 47.36% (2,167,808) (81.51) CENTRAL FINANCE 15.47% 15.33% 308,867 30.70 SAMPATH 20.14% 20.25% (389,694) (64.69) HUNTERS 88.90% 88.09% 41,650 15.49 HNB 34.01% 34.06% (180,842) (28.21) CARGILLS 7.48% 7.46% 50,000 9.50 JKH 44.99% 44.99% (82,157) (12.78) RENUKA AGRI 6.49% 6.32% 979,088 2.74 COMMERCIAL BANK[X.0000] 19.87% 19.94% (42,915) (3.36) HOTEL SIGIRIYA 3.76% 2.90% 50,610 2.63 TOKYO CEMENT 21.99% 22.01% (47,043) (1.93) L O L C HOLDINGS 4.21% 4.21% 16,163 2.33 CHEVRON 18.90% 18.91% (25,200) (1.84) BAIRAHA FARMS 3.60% 3.51% 15,000 1.55 SUNSHINE HOLDING 52.82% 52.83% (19,087) (0.86) DIALOG 93.83% 93.83% 101,785 1.28 REGNIS 1.63% 1.71% (9,500) (0.83) Note: *Value based on closing price and not on actual traded price Please note that the foreign shares data displayed above include private transfers done outside of the market. Foreign Purchases Vs. Sales Week Ending Net Position of Foreign Holdings 300 0 Foreign Purchases Foreign Sales 240 -250 180 -500 LKR.
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