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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 13 Nov 2020 ASPI Closes Flat amid Selling Pressure ASPI ^ 0.04% | S&P SL20 ^ 1.31% Key statistics… P1 The benchmark index remained... Cont. P2 Weekly foreign movement... Cont. P3 Announcements for the week ….… Cont. P4 Economic Snapshot………… P6 KEY STATISTICS Week ending 13-Nov 06-Nov +/- ASPI 6,082.42 6,080.09 0.04% S&P SL20 2,401.37 2,370.30 1.31% Banks 554.02 551.11 0.53% Capital Goods 900.31 888.86 1.29% Food, Beverage & Tobacco 853.78 853.45 0.04% Consumer Durables & Apparel 966.31 987.40 -2.14% Materials 1,117.01 1,204.22 -7.24% Diversified Financials 854.85 866.63 -1.36% Turnover (LKR Bn) 15.70 16.77 -6.39% Foreign Buying (LKR Mn) 158.65 308.77 -48.62% Foreign Selling (LKR Mn) 1,236.32 1,627.92 -24.06% Daily Average Turnover (LKR Bn) 3.14 3.35 -6.39% Daily Average Foreign Buying (LKR Mn) 31.73 61.75 -48.62% Daily Average Foreign Selling (LKR Mn) 247.26 325.58 -24.06% TOP 10 GAINERS TOP 10 LOSERS Opening Closing WoW % Opening Closing WoW % Company Code Company Code Price Price Change Price Price Change S M B LEASING[NV] SEMBX 0.2 0.3 50.0% RENUKA HOTELS RCHN 81.2 65.0 -20.0% PARAGON PARAN 64.4 83.7 30.0% DIPPED PRODUCTS DIPDN 396.3 324.1 -18.2% ABANS ABANN 87.3 106.4 21.9% ROYAL CERAMIC RCL N 162.7 140.2 -13.8% TESS AGRO TESSN 0.5 0.6 20.0% HAYLEYS HAYLN 427.7 370.7 -13.3% TESS AGRO[NV] TESSX 0.5 0.6 20.0% BOGAWANTALAWA BOPLN 17.3 15.0 -13.3% CEYLON PRINTERS CPRTN 66.1 79.0 19.5% MADULSIMA MADUN 11.4 10.1 -11.4% AITKEN SPENCE SPENN 37.0 44.0 18.9% HAYCARB HAYCN 496.0 449.6 -9.4% A.SPEN.HOT.HOLD. AHUNN 20.5 24.0 17.1% LAXAPANA LITEN 18.4 16.7 -9.2% DIMO DIMON 345.9 399.8 15.6% NATION LANKA CSF N 1.1 1.0 -9.1% WATAWALA WATAN 49.6 57.3 15.5% BPPL HOLDINGS BPPLN 14.8 13.5 -8.8% 1 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 13 Nov 2020 Market Review Indices | Indices vs. Turnover (09th Nov – 13th Nov) The benchmark index remained largely unchanged this week, amid better- than-expected earnings releases from select stocks and the easing of 6,500 ASPI 2,500 S&P SL20 6,380 2,460 lockdown measures. Although Sri Lankan equities began the week on a SL20 S&P 6,260 2,420 positive note amid strong buying interest in EXPO, profit taking over the ASPI 6,140 2,380 remainder of the week kept the index below 6,100 points. EXPO, DIPD and 6,020 2,340 HAYL experienced some selling pressure on Tuesday following the 5,900 2,300 09-Nov10-Nov11-Nov12-Nov13-Nov announcement of a vaccine with an efficacy rate above of 90% (according to 6.00 its Phase 3 trials) developed by Pfizer and BioNTech. 4.80 3.60 2.40 LKRBn) (Turnover 1.20 Consequently, the Bourse ended the week marginally up as the ASPI 0.00 09-Nov 10-Nov 11-Nov 12-Nov 13-Nov increased by 2.33 points (or +0.04%) to close at 6,082.42 points, while the S&P SL20 Index also increased by 31.07 points (or +1.31%) to close at 2,401.37 points. Gains on the benchmark index this week helped trim ASPI YTD loss to -0.4% Turnover & Market Capitalization | Total turnover value fell 6% W-o-W to LKR 15.7Bn (cf. last week’s value of LKR 16.8Bn), while daily average turnover value amounted to LKR 3.1Bn (compared to last week’s average of LKR 3.4Bn) as turnover levels continued to decline during the week, falling from LKR 5.5Bn on Monday to LKR 1.9Bn by Friday. EXPO continued to dominate weekly turnover levels and contribution of ~24% to total market turnover amid a significant increase in earnings for Sept’20 quarter. Buying interest also continued in DIPD and HAYL amid heavy foreign selling pressure. Retail investors continued to drive activity levels as local HNI and institutional investors remained largely on the side-lines with crossings for the week accounted for a mere 3% of total market turnover (cf. 6% last week). Investor interest mainly focused on UML (30.4% of crossings), DIPD (18.0% of crossings), and VONE (16.2% of crossings). Net Foreign Position | Foreign investors were net sellers this week with total net outflow amounting to LKR 1.07Bn relative to last week’s total net outflow of LKR 1.32Bn (+18.3% W-o-W). Total foreign purchases decreased by 48.6% W-o-W to LKR 0.16Bn from last week’s value of LKR 0.31Bn, while total foreign sales amounted to LKR 1.24Bn relative to LKR 1.63Bn recorded last week (-24.1% W-o- W). TOP 10 TURNOVERS Contribution to Company Code Industy Group Opening Price Closing Price Value (Rs. Mn) Total Turnover EXPOLANKA EXPON TRANSPORTATION 24.7 25.7 3,775.1 24% DIPPED PRODUCTS DIPDN MATERIALS 396.3 324.1 1,577.4 10% HAYLEYS HAYLN CAPITAL GOODS 427.7 370.7 621.0 4% JKH JKH N CAPITAL GOODS 136.1 141.2 583.4 4% SAMPATH SAMPN BANKS 124.1 125.0 473.8 3% ACCESS ENG SL AEL N CAPITAL GOODS 23.7 24.6 461.1 3% CIC CIC N MATERIALS 127.1 130.1 456.9 3% ROYAL CERAMIC RCL N CAPITAL GOODS 162.7 140.2 387.5 2% HEMAS HOLDINGS HHL N CAPITAL GOODS 74.0 76.4 365.5 2% VALLIBEL ONE VONEN CAPITAL GOODS 25.4 24.6 323.3 2% 2 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 13 Nov 2020 Market Review (Cont’d) Net Foreign Purchases (09 Nov-13 Nov) Net Foreign Sales (09 Nov-13 Nov) WATAWALA RICHARD PIERIS Volume Change ('000s) CENTRAL IND. Volume Change ('000s) AITKEN SPENCE DISTILLERIES SAMPATH SANASA DEV. BANK LAUGFS POWER OVERSEAS REALTY EXPOLANKA PIRAMAL GLASS DIALOG PEOPLES LEASING MELSTACORP ACCESS ENG SL HNB VALLIBEL DIPPED PRODUCTS SIERRA CABL HEMAS HOLDINGS 0 50 100 150 200 250 (2,500) (2,000) (1,500) (1,000) (500) - *Volume change of Expolanka (1.26Mn share) & Union Bank (3.12Mn shares) from 29th Oct – 06th Nov not displayed. Net Foreign Purchases (By Transaction Value) Net Foreign Sales (By Transaction Value) Foreign Holding (%) Value* Foreign Holding (%) Value* Company Net Change Company Net Change 13/11/20 09/11/20 (LKR. Mn) 13/11/20 09/11/20 (LKR. Mn) RICH PIERIS EXP 1.51% 1.37% 15,801 4.58 DIPPED PRODUCTS 2.11% 4.27% (1,296,510) (420.2) SANASA DEV. BANK 23.75% 23.62% 79,655 4.29 HEMAS HOLDINGS 20.98% 21.36% (2,249,553) (171.9) CENTRAL IND. 2.52% 2.25% 54,881 4.25 HNB 23.70% 23.99% (1,224,785) (141.5) ACCESS ENG SL 1.35% 1.34% 151,965 3.74 MELSTACORP 22.44% 22.53% (1,065,886) (35.6) HNB[X.0000] 33.44% 33.41% 29,000 2.68 SAMPATH 15.76% 15.82% (210,324) (26.3) WATAWALA 1.07% 1.05% 40,458 2.32 HAYCARB 4.60% 4.68% (24,000) (10.8) L O L C HOLDINGS 0.51% 0.51% 17,025 2.26 EXPOLANKA 75.78% 75.80% (365,606) (9.4) VALLIBEL 1.48% 1.46% 215,000 1.76 UNITED MOTORS 6.39% 6.52% (138,071) (9.2) ROYAL CERAMIC 1.96% 1.95% 10,000 1.40 AITKEN SPENCE 21.62% 21.67% (188,116) (8.3) COLD STORES 10.16% 10.17% (12,648) (8.2) DISTILLERIES 0.68% 0.68% 74,097 1.37 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 500 500 Foreign Purchases 400 Foreign Sales -100 300 -700 LKR. Mn LKR. 200 Mn LKR. -1,300 100 -1,900 0 -2,500 09-Nov 10-Nov 11-Nov 12-Nov 13-Nov 23-Oct 29-Oct 06-Nov 13-Nov 3 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 13 Nov 2020 Announcements for the Week Dividend Announcements Company DPS(Rs.) Dividend Type Date (XD) CEYLON GRAIN ELEVATORS 4.50 Interim 24-11-2020 THREE ACRE FARMS 5.50 Interim 24-11-2020 HEMAS HOLDINGS 0.40 First Interim 23-11-2020 WATAWALA PLANTATIONS 3.00 First Interim 23-11-2020 UNION CHEMICALS 15.00 First Interim 23-11-2020 LANKA WALLTILES 3.60 First Interim 19-11-2020 LANKA TILES 3.85 First Interim 19-11-2020 CEYLON TOBACCO 19.00 Third Interim 19-11-2020 COLOMBO CITY HOLDINGS 50.00 First Interim 19-11-2020 VALLIBEL POWER ERATHNA 0.30 Second Interim 17-11-2020 Weekly Crossings Company Quantity Turnover(Rs. Mn) % of Total Crossings CIC 200,000 26.00 5.2% UNION BANK 2,000,000 23.00 4.6% UNITED MOTORS 2,480,000 151.28 30.4% VALLIBEL ONE 3,100,000 80.60 16.2% DIPPED PRODUCTS 280,000 89.60 18.0% JKH 239,900 33.59 6.8% CEYLON TOBACCO 50,000 48.00 9.7% AITKEN SPENCE 450,000 20.25 4.1% SAMPATH 200,000 25.00 5.0% Quarterly Earnings Summary for the Week Net Profit(Rs.
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