ASB Research Weekly-10.03.2017
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ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 10 March 2017 HNI & Institutional Investors Dominate Market Indices vs. Turnover (06th Mar – 10th Mar) Activity … Cumulative 9M Results Up 20% Y-o-Y 6,150 ASPI 3,580 S&P SL20 6,130 3,560 ASPI v 0.27% | S&P SL20 v 0.80% SL20 S&P 6,110 3,540 ASPI 6,090 3,520 The Bourse ended in… Cont. P2 6,070 3,500 6,050 3,480 Foreign Investors Closed the Week in... Cont. P3 06-Mar07-Mar08-Mar09-Mar10-Mar 1.5 Institutional and HNI interest continued … Cont. P5 1.1 0.8 LKR Bn) LKR 0.4 Economic Snapshot………… P6 (Turnover 0.0 06-Mar 07-Mar 08-Mar 09-Mar 10-Mar KEY STATISTICS Week ending 10-Mar 03-Mar +/- ASPI 6,084.99 6,101.51 -0.27% S&P SL20 3,496.58 3,524.77 -0.80% Banking & Finance -1.98% 14,975.39 15,277.88 Food & Beverage 21,396.37 21,207.46 0.89% Diversified 1,532.23 1,546.04 -0.89% Hotel & Travel 2,935.27 2,935.66 -0.01% Plantations 678.38 674.62 0.56% Manufacturing 4,225.32 4,283.44 -1.36% Turnover (LKR Bn) 3.90 6.13 -36.35% Foreign Buying (LKR Mn) 2,500.10 2,864.33 -12.72% Foreign Selling (LKR Mn) 1,342.46 1,765.80 -23.97% Daily Average Turnover (LKR Bn) 0.78 1.23 -36.35% Daily Average Foreign Buying (LKR Mn) 500.02 572.87 -12.72% Daily Average Foreign Selling (LKR Mn) 268.49 353.16 -23.97% TOP 10 GAINERS TOP 10 LOSERS Opening Closing WoW % Opening Closing WoW % Company Code Company Code Price Price Change Price Price Change KOTMALE HOLDINGS LAMBN 60.1 73.6 22.5% BLUE DIAMONDS[NV] BLUEX 0.4 0.3 -25.0% MULLERS MULLN 1.0 1.2 20.0% LANKEM DEV. LDEVN 2.9 2.3 -20.7% E B CREASY EBCRN 1224.0 1447.9 18.3% CEYLON PRINTERS CPRTN 61.0 50.0 -18.0% SERENDIB HOTELS[NV] SHOTX 17.0 19.9 17.1% COMM LEASE & FIN CLC N 3.0 2.5 -16.7% CIFL CIFLN 0.7 0.8 14.3% ANILANA HOTELS ALHPN 1.4 1.2 -14.3% AMANA TAKAFUL ATL N 0.7 0.8 14.3% PEOPLE'S MERCH PMB N 14.0 12.2 -12.9% PDL PDL N 72.1 82.4 14.3% CITRUS WASKADUWA CITWN 3.9 3.4 -12.8% COLD STORES CCS N 735.0 820.6 11.6% EASTERN MERCHANT EMERN 5.5 4.8 -12.7% SWARNAMAHAL FIN SFS N 0.9 1.0 11.1% CITRUS LEISURE REEFN 8.0 7.0 -12.5% ORIENT FINANCE ORINN 11.4 10.0 -12.3% LAXAPANA LITEN 9.4 10.4 10.6% 1 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 10 March 2017 Market Review Indices | Liquidity (in Volume Terms) | The Bourse ended in negative territory this week as the The Diversified Sector dominated the market in terms of ASPI decreased by 16.52 points (or 0.27%) to close at share volume too, accounting for 25.71% (or 24.05Mn 6,084.99 points, while the S&P SL20 Index too decreased shares) of total volume, with a value contribution of LKR by 28.19 points (or 0.80%) to close at 3,496.58 points. 1.43Bn. The Bank, Finance & Insurance sector followed suit, adding 22.24% to total turnover volume as Turnover & Market Capitalization | 20.80Mn shares were exchanged. The sector’s volume JKH was the highest contributor to the week’s turnover accounted for LKR 1.08Bn of total market turnover value, contributing LKR 0.585Bn or 14.99% of total value. The Telecommunication Sector meanwhile, turnover value. Melstacorp followed suit, accounting for contributed 15.93Mn shares (or 17.03%), amounting to 14.86% of turnover (value of LKR 0.580Bn) while NDB LKR 0.18Bn. contributed LKR 0.39Bn to account for 10.09% of the week’s turnover. Total turnover value amounted to LKR Top Gainers & Losers | 3.90Bn (cf. last week’s value of LKR 6.13Bn), while daily Kotmale Holdings was the week’s highest price gainer; average turnover value amounted to LKR 0.78Bn increasing 22.46% W-o-W from LKR 60.10 to LKR 73.60. (-36.35% W-o-W) compared to last week’s average of Mullers gained 20.00% W-o-W to close at LKR 1.20 LKR 1.23Bn. Market capitalization meanwhile, while E.B. Creasy gained 18.29% W-o-W to close at LKR decreased by 0.27% W-o-W (or LKR 7.25Bn) to LKR 1447.90. Serendib Hotels [X] (+17.06% W-o-W) and 2,672.12Bn cf. LKR 2,679.37Bn last week. CIFL (+14.29% W-o-W) were also amongst the gainers. Blue Diamonds [X] was the week’s highest price loser, Liquidity (in Value Terms) | declining 25.00% W-o-W to close at LKR 0.30. Lankem The Diversified Sector was the highest contributor to the Dev (-20.69% W-o-W), Ceylon Printers (-18.03% W-o- week’s total turnover value, accounting for 36.53% (or W) and Commercial Leasing & Fin (-16.67% W-o-W) LKR 1.43Bn) of market turnover. Sector turnover was were also amongst the top losers over the week. driven primarily by JKH, Melstacorp & Hemas Holdings which accounted for 93.05% of the sector’s total TOP 10 TURNOVER turnover. The Bank, Finance & Insurance Sector meanwhile accounted for 27.66% (or LKR 1.08Bn) of the Opening Closing Value (Rs. total turnover value with turnover driven primarily by Company Code Price Price Mn) NDB, Commercial and Sampath Banks which accounted JKH JKH N 141.7 139.9 584.9 for 79.46% sector turnover. The Beverage, Food & MELSTACORP MELSN 63.3 61.9 579.8 Tobacco Sector was also amongst the top sectorial NAT. DEV. BANK NDB N 149.0 139.9 393.8 contributors, contributing 9.54% (or LKR 0.37Bn) to the COLD STORES CCS N 735.0 820.6 288.0 market. The sector turnover was driven by Cold Stores COMMERCIAL BANK COMBN 142.0 138.0 275.9 which accounted for 77.38% of the sector turnover. SAMPATH SAMPN 271.0 270.0 187.7 DIALOG DIALN 11.1 11.1 182.1 HEMAS HOLDINGS HHL N 108.5 108.0 161.3 RENUKA HOLDINGS RHL N 20.0 19.5 134.8 TEEJAY LANKA TJL N 38.9 37.5 100.7 2 ACUITY STOCKBROKERS RESEARCH | SRI LANKA EQUITIES Weekly Market Review 10 March 2017 Market Review (Cont’d) Net Foreign Purchases (03 Mar-10 Mar) Net Foreign Sales (03 Mar-10 Mar) ROYAL CERAMIC Volume Change ('000s) COM.CREDIT Volume Change ('000s) HNB SLT SERENDIB HOTELS A.SPEN.HOT.HOLD. NATION LANKA AHOT PROPERTIES TOKYO CEMENT SINGER SRI LANKA HEMAS HOLDINGS CHEVRON COMMERCIAL BANK ACCESS ENG SL MELSTACORP KEELLS HOTELS EXPOLANKA* PEOPLES LEASING DIALOG* TEEJAY LANKA - 620 1,240 1,860 2,480 3,100 (900) (720) (540) (360) (180) - *Volume change of Dialog Axiata (14.31 Mn shares) & Expolanka Holdings(5.50 Mn Shares)not displayed between 03rd Mar -10th Mar 2017. Foreign investors closed the week in a net buying position with total net inflows amounting to LKR 1.16Bn relative to last week’s total net inflow of LKR 1.10Bn (+5.38% W-o-W). Total foreign purchases decreased by 12.72% W-o-W to LKR 2.50Bn from last week’s value of LKR 2.86Bn, while total foreign sales amounted to LKR 1.34Bn relative to LKR 1.77Bn recorded last week (-23.97% W-o-W). In terms of volume, Dialog Axiata and Expolanka Holdings led foreign purchases while Teejay Lanka & Peoples Leasing led foreign sales. In terms of value, Commercial Bank & Melstacorp led foreign purchases while Teejay Lanka & Chevron 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 10/03/17 03/03/17 (LKR. Mn) 10/03/17 03/03/17 (LKR. Mn) COMMERCIAL BANK 30.61% 30.44% 1,432,137 197.63 TEEJAY LANKA 45.42% 45.55% (888,792) (33.33) MELSTACORP 25.17% 24.91% 3,012,365 186.47 CHEVRON 27.24% 27.26% (49,443) (8.42) DIALOG 94.05% 93.88% 14,308,119 158.82 PEOPLES LEASING 6.71% 6.74% (476,807) (7.58) COLD STORES 9.88% 9.70% 169,300 138.93 SINGER SRI LANKA 87.71% 87.75% (48,062) (6.82) HEMAS HOLDINGS 30.68% 30.53% 863,568 93.27 ACCESS ENG SL 6.21% 6.22% (65,500) (1.64) HNB 27.38% 27.29% 282,271 65.20 AHOT PROPERTIES 1.72% 1.72% (19,911) (1.15) TOKYO CEMENT 23.26% 23.01% 554,758 34.95 KEELLS HOTELS 0.79% 0.80% (74,799) (0.76) JKH 51.31% 51.30% 244,028 34.14 A.SPEN.HOT.HOLD. 0.87% 0.87% (14,730) (0.55) EXPOLANKA 77.30% 77.01% 5,500,848 33.01 COM.CREDIT 36.60% 36.60% (12,238) (0.53) REGNIS 3.47% 1.32% 242,346 32.72 SLT 45.02% 45.02% (13,430) (0.47) 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.