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ASB Research Weekly 18.09.2020

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ASB Research Weekly 18.09.2020 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 18 Sep 2020 ASPI Hits 7-Month High Amid Retail Driven Indices vs. Turnover (14th Sep – 18th Sep) Momentum… Trade Deficit Narrows in Jul’20 6,000 ASPI 2,700 ASPI ^ 5.18% | S&P SL20 ^ 6.49% S&P SL20 5,850 2,600 S&P SL20 S&P 5,700 2,500 ASPI The Bourse ended the week… Cont. P2 5,550 2,400 5,400 2,300 5,250 2,200 Foreign investors closed the week... Cont. P3 14-Sep 15-Sep 16-Sep 17-Sep 18-Sep 4.00 Domestic equities jumped ….… Cont. P4 3.20 2.40 1.60 LKR Bn) LKR (Turnover 0.80 Economic Snapshot………… P5 0.00 14-Sep 15-Sep 16-Sep 17-Sep 18-Sep KEY STATISTICS Week ending 18-Sep 11-Sep +/- ASPI 5,720.67 5,438.91 5.18% S&P SL20 2,512.40 2,359.24 6.49% Banks 595.59 559.68 6.42% Capital Goods 805.12 771.59 4.35% Food, Beverage & Tobacco 796.71 764.76 4.18% Consumer Durables & Apparel 932.82 824.37 13.16% Materials 874.94 789.47 10.83% Diversified Financials 801.38 783.76 2.25% Turnover (LKR Bn) 15.98 9.45 69.05% Foreign Buying (LKR Mn) 958.88 348.54 175.11% Foreign Selling (LKR Mn) 3,038.98 2,312.77 31.40% Daily Average Turnover (LKR Bn) 3.20 1.89 69.05% Daily Average Foreign Buying (LKR Mn) 191.78 69.71 175.11% Daily Average Foreign Selling (LKR Mn) 607.80 462.55 31.40% TOP 10 GAINERS TOP 10 LOSERS Opening Closing WoW % Opening Closing WoW % Company Code Company Code Price Price Change Price Price Change EXPOLANKA EXPON 6.9 9.8 42.0% BLUE DIAMONDS[NV] BLUEX 0.3 0.2 -33.3% RENUKA AGRI RAL N 3.1 4.1 32.3% KELSEY KDL N 34.8 29.7 -14.7% HAYLEYS FABRIC MGT N 16.8 22.1 31.5% BLUE DIAMONDS BLUEN 0.7 0.6 -14.3% HNB FINANCE HNBFN 5.4 7.1 31.5% ARPICO ARPIN 124.9 116.3 -6.9% LANKA IOC LIOCN 17.7 23.0 29.9% EQUITY TWO PLC ETWON 55.9 52.1 -6.8% LAUGFS POWER[NV] LPLX 3.4 4.4 29.4% AMANA LIFE ATLLN 9.7 9.1 -6.2% CIT CITN 62.0 80.0 29.0% PDL PDL N 149.7 142.9 -4.5% RENUKA FOODS[NV] COCOX 11.0 14.1 28.2% MILLENNIUM HOUSE MHDLN 7.0 6.7 -4.3% LAUGFS POWER LPLN 4.5 5.7 26.7% LOTUS HYDRO HPFLN 7.2 6.9 -4.2% S M B LEASING SEMBN 0.4 0.5 25.0% LANKEM DEV. LDEVN 5.0 4.8 -4.0% 1 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 18 Sep 2020 Market Review Indices | Liquidity (in Volume Terms) | The Bourse ended the week on a positive note as the The Food Beverage & Tobacco Industry Group ASPI increased by 281.76 points (or 5.18%) to close at dominated the market in terms of share volume, 5,720.67 points, while the S&P SL20 Index also accounting for 25.76% (or 201.19Mn shares) of total increased by 153.16 points (or 6.49%) to close at volume, with a value contribution of LKR 2.42Bn. The 2,512.40 points. Transportation Industry Group followed suit, adding 20.62% to total turnover volume as 161.02Mn shares Turnover & Market Capitalization | were exchanged. The Industry Group’s volume Expolanka was the highest contributor to the week’s accounted for LKR 1.46Bn of total market turnover turnover value, contributing LKR 1.46Bn or 9.12% of value. The Capital Goods Industry Group meanwhile, total turnover value. JKH followed suit, accounting for contributed 89.75Mn shares (or 11.49%), amounting to 9.09% of turnover (value of LKR 1.45Bn) while HNB LKR 3.36Bn. contributed LKR 0.85Bn to account for 5.32% of the week’s turnover. Total turnover value amounted to LKR Top Gainers & Losers | 15.98Bn (cf. last week’s value of LKR 9.45Bn), while Expolanka was the week’s highest price gainer; daily average turnover value amounted to LKR 3.20Bn increasing 42.0% W-o-W from LKR6.90 to LKR9.80 (69.05% W-o-W) compared to last week’s average of while Renuka Agri(+32.3% W-o-W), Hayleys Fabric LKR 1.89Bn. Market capitalization meanwhile, increased (+31.5% W-o-W) and HNB Finance(+31.5% W-o-W) by 7.71% W-o-W (or LKR 177.86Mn) to LKR 2,486.27Bn were also amongst the top gainers. cf. LKR 2,308.41Bn last week. Blue Diamonds[NV] was the week’s highest price loser; Liquidity (in Value Terms) | declining 33.3% W-o-W to close at LKR0.20. Kelsey Dev. The Banks Industry Group was the highest contributor (-14.7% W-o-W), Blue Diamonds (-14.3% W-o-W) and to the week’s total turnover value, accounting for Arpico (-6.9% W-o-W) were also amongst the top losers 22.31% (or LKR 3.56Bn) of market turnover. Industry over the week. Group’s turnover was driven primarily by HNB,Commercial & Sampath Bank which accounted for TOP 10 TURNOVERS 66.12% of the sector’s total turnover. The Capital Goods Opening Closing Value Industry Group meanwhile accounted for 21.05% (or Company Code LKR 3.36Bn) of the total turnover value, with turnover Price Price (Rs. Mn) driven primarily by JKH & Hemas Holdings which EXPOLANKA EXPON 6.9 9.8 1,457.1 JKH JKH N 135.9 137.9 1,452.2 accounted for 60.11% of the sector turnover. The HNB HNB N 119.6 130.3 850.5 Food,Beverage & Tobacco Industry Group was also COMMERCIAL BANK COMBN 79.5 82.8 757.0 amongst the top sectorial contributors, contributing SAMPATH SAMPN 124.0 137.0 749.5 15.14% (or LKR 2.42Bn) to the total turnover, with MELSTACORP MELSN 29.5 35.0 701.8 turnover driven primarily by Melstacorp accounting for TOKYO CEMENT[NV] TKYOX 37.0 45.5 664.3 29.02% of the total turnover. TOKYO CEMENT TKYON 45.9 54.4 638.6 HAYLEYS FABRIC MGT N 16.8 22.1 628.2 HEMAS HOLDINGS HHL N 60.3 68.0 570.1 2 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 18 Sep 2020 Market Review (Cont’d) Net Foreign Purchases (11 Sep-18 Sep) Net Foreign Sales (11 Sep-18 Sep) DISTILLERIES DOLPHIN HOTELS Volume Change ('000s) Volume Change ('000s) LMF TEEJAY LANKA AITKEN SPENCE BROWNS INVSTMNTS CIC[X.0000] HEMAS HOLDINGS CARGILLS EXPOLANKA WATAWALA EAST WEST PEOPLES LEASING RENUKA AGRI HNB COMMERCIAL BANK* HAYLEYS FABRIC MELSTACORP* SAMPATH JKH* 0 200 400 600 800 1,000 (1,500) (1,200) (900) (600) (300) - *Volume change of JKH(9.00Mn share), Melstacorp (3.50Mn shares) & Commercial Bank (2.90Mn shares) from 11th Sep – 18th Sep not displayed. Foreign investors closed the week in a net selling position with total net outflow amounting to LKR 2.08Bn relative to last week’s total net outflow of LKR 1.96Bn (-5.90% W-o-W). Total foreign purchases increased by 117.1% W-o-W to LKR 0.96Bn from last week’s value of LKR 0.35Bn, while total foreign sales amounted to LKR 3.04Bn relative to LKR 2.31Bn recorded last week (31.40% W-o-W). In terms of volume, Sampath Bank & Hayleys Fabric led foreign purchases while JKH & Melstacorp led foreign sales. In terms of value, Sampath Bank & HNB led foreign purchases while JKH & Cold Stores 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 18/09/20 11/09/20 (LKR. Mn) 18/09/20 11/09/20 (LKR. Mn) SAMPATH 15.80% 15.57% 895,765 122.72 JKH 41.43% 42.11% (8,959,468) (1,236) HNB 27.18% 27.10% 339,562 44.24 COLD STORES 10.05% 10.54% (469,255) (312) CARGILLS 7.58% 7.50% 200,545 37.10 COMMERCIAL BANK 16.14% 16.44% (2,899,872) (240) HAYLEYS FABRIC 1.37% 0.97% 828,245 18.30 MELSTACORP 23.35% 23.65% (3,503,720) (123) CIC[X.0000] 6.99% 6.52% 102,814 7.32 CEYLON TOBACCO 97.04% 97.09% (84,767) (80) WATAWALA 1.00% 0.90% 205,722 6.81 HEMAS HOLDINGS 21.96% 22.11% (877,265) (60) PEOPLES LEASING 4.28% 4.26% 285,245 3.79 LMF 21.25% 22.52% (508,284) (54) NAMUNUKULA 2.44% 2.34% 23,676 3.05 C T HOLDINGS 14.36% 14.49% (269,301) (41) SANASA DEV. BANK 23.53% 23.46% 38,320 2.12 CHEVRON 17.72% 17.88% (393,256) (34) DIPPED PRODUCTS 8.54% 8.80% (158,764) (32) AITKEN SPENCE 21.83% 21.82% 54,200 2.10 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 1,380 Foreign Purchases Foreign Sales 0 1,150 -600 920 -1,200 690 LKR. Mn LKR.
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