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Asha Phillip Securities Ltd ASHA PHILLIP SECURITIES LTD DAILY STOCK MARKET HIGHLIGHTS No. 10, PrinceJ Alfred Towers, 2nd Floor, Alfred House Gardens, Colombo 03 Tel 94 11 2429100 Fax 94 11 2429199 www.ashaphillip.net th [email protected] 09 May 2012 Market Highlights Market Announcement Aitken Spence PLC (SPEN) - Dividend Announcement dSPE ofN has declared Rs. 1.40 per share as the First & final dividend based on the XD date of 29.June.2012. Payment will be arranged on 10.July.2012. company Aitken Spence Hotel Holdings PLC (AHUN) - Dividend Announcement AHUN has declared Rs. 0.70 per share as the First & final dividend based on the XD date of 29.June.2012. Payment will be arranged on 10.July.2012. Market Comment Market Comment s Amidst the global market volatility and the uncertainty in the local economy with the rise in interest rates, pressure on the exchange rates and expected low corporate earnings resulted in the selling sentiment in the Colombo bourse. The All Share Price Index dropped 38.81 points to close at 5,256.79 (-0.73%) while the Milanka Price Index dropped 27.40H points to close at 4,714.29(-0.58%). The total turnover for the day was LKR 544.2Mmn. The top contributory counters towards the daily turnover were United Motors Lanka PLC (LKR 289Mn), John Keells Holdings PLC (LKR 283.3Mn) and Commercial Bank Of Ceylon PLC (LKR 57.6Mn). The Colombo bourse reflected a dull sentiment while recording thin volumes driven by dreary investor sentiment. 3 crossings were recorded on JKH (LKR 50,500,000), ASCOT Holdings (LKR 28,700,000) and United Motors Lanka PLC (LKR 144,500,000). The market reflected a selling sentiment, however the total Volume traded for the day was 34.0Mn; AMANAKet Takaful PLC (9Mn) , Nation Lanka Finance PLC(W21) (4.4Mn) and United Motors Lanka PLC (3.4Mn) were the highest traded counters. Negative contributors continued to outperform positive contributors by 156:44. Price gainers were led by HARISCHANDRA; and CFI was the top looser. The market recorded a net foreign inflow of LKR 278.6Mn. Local Market News Sri Lanka turns to hydrogen fuel Sri Lanka will step into hydrogen fuel era shortly, the Ministry of Industry and Commerce announced yesterday. "Interestingly, the entry will be through the small scale SME sector rather than large scale motor transport. UNIDO is planning the pilot project in Galle where hydrogen powered three wheelers supported by a mini hydrogen filling station. This will show us how to implement this new technology in across the entire country," said Nawaz Rajabdeen, UNIDO National Director for Sri Lanka. Rajabdeen announced this in the aftermath of his discussion with Vittorio Coco, the Consultant and Adviser of Sri Lanka's first Hydrogen powered pilot project which is set to test hydrogen powered three wheelers (tuk-tuks) in Galle Fort. (asiaone.com) Sri Lanka SEC looking to increase market liquidity Sri Lanka's Securities and Exchange Commission (SEC) wants listed companies to have at least 10 percent free float to increase market liquidity and plans to make a decision this month, the Chairman of the regulatory agency has stated on Tuesday. "We are looking to increase liquidity seriously for a minimum 10 percent float," SEC Chairman Thilak Karunaratne has mentioned in an interview. "Final decision will be taken as soon as possible, hopefully before June," he has added. The 10 percent free float rule will require the companies to have at least 10 percent of the shares to be independent of the company and its management and available for public trading when they get listed. However, the listed big firms have only about 5 percent of floating shares available due to the purchasing of shares by the company's management and its related interests, though the market has an overall 30 percent free float. (colombopage.com) International Market News Asian markets join global sell-off on Greece concerns Asian markets have dropped, tracking falls in Europe and the US, amid political uncertainty in Greece. Greece's left- wing Syriza bloc is trying to form a government and its leader is opposed to the austerity terms set in the Greek bailout deal. There are fears Greece may not get the next instalment of its bailout if it does not stick to the spending cuts. Japan's Nikkei 225 index fell 1.5%, South Korea's Kospi shed 0.8% and Australia's ASX 200 dipped 0.9%. (bbc.co.uk) Syriza's Tsipras to meet Greece's pro-bailout parties The leader of Greece's left-wing Syriza bloc is continuing attempts to form a government after elections on Sunday produced an inconclusive result. Alexis Tsipras has said he will try to form a coalition based on tearing up the terms of the EU/IMF bailout deal, which he describes as "barbaric". On Wednesday, he will meet the two mainstream pro- bailout parties, Pasok and New Democracy (ND). If the two sides fail to agree, Greece could face fresh elections in weeks. (bbc.co.uk) Economic Indicators & Other Statistics Foreign Stock Exchanges Commodity Prices & Other Statistics j (Oil Price.net, srilankastockpicks.blogspot.com, pureceylontea, LBO, rrisl) Asha Phillip Securities Limited – Research Thakshila Hulangamuwa Pasindu Perera Vice President – Business Development Manager - Research [email protected] [email protected] 0094 113070494 0094 112429109 Lasantha Senanayake Ranuka De Silva Research Analyst Research Analyst [email protected] [email protected] Asha Phillip Securities Limited – Branch Network . Head Office: Southern Region (Matara) # 24-1/3, A , 2nd Floor, E.H. Cooray Tower, Anagarika Dharmapala Mw, Matara. Tel: 041 2235191-6 . Branch Office: Matara # 38, Station Road, Matara. Tel. 041 2223940 . Branch Office: Negombo # 142, Greens Road, Negombo. Tel. 031 2227474 . Branch Office: Gampaha # 21, Courts Road, Gampaha. Tel. 033 2234888 . Branch Office: Kiribathgoda Udeshi City Shopping Complex, 2nd Floor, 2-6, No. 94, Makola Road, Kiribathgoda. Tel. 011 2908511 . Branch Office: Kurunegala No. 6, 1st Floor, Union Assurance Bldg, Rajapihilla Mawatha, Kurunegala. Tel. 037 2234777 . Branch Office: Kandy Ceybank House, # 88, Dalada Vidiya, Kandy. Tel. 081 4474118 . Branch Office: Galle # 16, Sri Dewamittha Mw, Galle. Tel. 091 2233558 . Branch Office: Anuradhapura # 9, Maithripala Senanayaka Mw, Bank Site, New Town, Anuradhapura. Tel. 025 2234705 . Branch Office: Embilipitiya # 61, Sampath Bank Bldg. Main Street, Embilipitiya. Tel. 047 2261950 . Branch Office: Batticaloa #22B Bar Road, Batticaloa, Tel: 065 2228029 . Branch Office: Jaffna 1st Floor, # 398/1, Hospital Road, Jaffna. Tel: 021 2221614 Branch Network ……………………… . Branch Office: Vavuniya 1st Floor, # 60, 1st Cross Street, Vavuniya. Tel: 024 2226031 . Branch office: Kollupitiya # 60,5th Lane, Colombo 03, Tel: 011 3009826 . Branch Office: Badulla # 33/3, 2nd Floor, Modern Complex, Badulla. Tel: 055 2222009 . Branch Office: Wellawatte # 3-1/2, Collingwood Place, Colombo 06. Tel: 0112 362939 . Branch Office: Panandura # 465, Galle Road, Panandura. Tel: 038 2234780 . Branch Office: Ambalanthota # 153, Tissa Road, Ambalanthota. Tel: 047-2225170 . Branch Office: Wattala # 118, Negombo Road, Wattala. Tel: 011-2930099 This document has been prepared and issued by Asha Phillip Securities Ltd, on the basis of publicly available information, internally developed data and other sources, believed to be reliable. Whilst all responsible care has been taken to ensure that the facts stated are accurate and the opinions given are fair and reasonable neither Asha Phillip Securities Ltd, nor any Director, Officer or employee, shall in any way be responsible for the contents. Asha Phillip Securities Ltd may act as a Broker in the investments which are the subject of this document or related investments and may have acted upon or used the information contained in this document, or the research or analysis on which it is based, before its publication. Asha Phillip Securities Ltd., Its Directors, Officers or Employees may also have a position or be otherwise interested in the investments referred to in this document. This is not an offer to sell or buy the investments referred to in this document. .
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