Beruflich Dokumente
Kultur Dokumente
Market Brief
Equity Market Outlook
Islamic Finance
Commodity Outlook
Forex Outlook
Market Brief
The Colombo bourse touched year lowest during the month of March witnessing notable
losses. The lackluster investor activities and the political instability that prevailed in the
country majorly affected this negative index performance. Colombo Stock Exchange (CSE)
benchmark price index, All Share Price Index (ASPI) lost 6.59% MOM to close 6820.34 points,
while 20 Scrip S&P SL index also decreased 6.40% MOM to close at 3852.43.
The benchmark 364 day Treasury bill rate was at 6.76%, as the central bank drives to
encourage banks to reduce lending rates in order to induce private sector borrowing. In March
2015, the credit obtained by the private sector from commercial banks increased by 11.5% yo-y, which means that the credit disbursements during the month amounted to Rs.21 billion. It
is expected that the credit to private sector from commercial banks will sustain its growth
momentum in the future.
Core inflation, which reflects the underlying inflation in the economy, increased to 1.4 percent
in March 2015, from 0.8 percent in February 2015 on a year on year basis. Annual average
core inflation during March 2015 was 3.0 percent, compared to 3.2 percent recorded in
February 2015.
The decline in inflation in February was a reflection of downward revision of domestic fuel
prices and the moderation of the prices of certain essential items announced in the Interim
Budget 2015.With these favorable budget proposals and improved supply conditions it is
projected that inflation will remain at low levels, particularly in the first half of 2015.
It is expected that the external sector would remain resilient with continued foreign currency
inflows to the current account as well as to the financial account.
Atchuthan Srirangan
Fund Manager GIH Capital.
2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.
Atchuthan Srirangan
atchuthan@gihcapital.com
+94 117 452 800
S&P SL20
4,350.00
7,500.00
7,100.00
4,050.00
6,700.00
3,750.00
6,300.00
3,450.00
5,900.00
5,500.00
Mar-14
Jun-14
Sep-14
3,150.00
Mar-15
Dec-14
ASPI
7,500.00
3,000.00
7,350.00
2,500.00
2,000.00
7,200.00
1,500.00
7,050.00
1,000.00
31-Mar-15
30-Mar-15
27-Mar-15
26-Mar-15
25-Mar-15
24-Mar-15
23-Mar-15
20-Mar-15
19-Mar-15
18-Mar-15
17-Mar-15
16-Mar-15
13-Mar-15
12-Mar-15
11-Mar-15
10-Mar-15
9-Mar-15
6-Mar-15
0.00
4-Mar-15
6,750.00
3-Mar-15
500.00
2-Mar-15
6,900.00
In March 2015 Colombo Stock Exchange (CSE) benchmark price index, All Share Price Index
(ASPI) lost 6.59% MOM to close 6820.34 points, while 20 Scrip S&P SL index also decreased
6.40% MOM to close at 3852.43.
John Keells Holding, Seylan Bank and Distilleries are the top contributor to March monthly
turnover.
Source : GIH Capital Research
2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.
Atchuthan Srirangan
atchuthan@gihcapital.com
+94 117 452 800
Foreign Sales
850.00
600.00
350.00
31-Mar-15
30-Mar-15
27-Mar-15
26-Mar-15
25-Mar-15
24-Mar-15
23-Mar-15
20-Mar-15
19-Mar-15
18-Mar-15
17-Mar-15
16-Mar-15
13-Mar-15
12-Mar-15
11-Mar-15
10-Mar-15
9-Mar-15
6-Mar-15
4-Mar-15
3-Mar-15
-150.00
2-Mar-15
100.00
-400.00
The month March witnessed net foreign inflow of LKR 1.40 Bn. Foreigners bought LKR 5.31
Bn worth of shares while foreign selling amounted to LKR 3.91 Bn.
Cumulatively last 3 months Foreigners bought LKR 21.15 Bn worth of shares while foreign
selling amounted to LKR 18.24 Bn.
Youre neither right nor wrong because other people agree with you. Youre
right because your facts are right and your reasoning is right-and thats the
only thing that makes you right.
Warren Buffett
Source : GIH Capital Research
2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.
atchuthan@gihcapital.com
MTD Price
+94 117 452
800Change %
No Security ID
Name
1
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5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
PCH-N-0000
PC HOUSE PLC
33.33%
SFL-N-0000
11.12%
AGAL-N-0000
9.56%
AMF-N-0000
6.98%
ARPI -N-0000
6.55%
BLUE-N-0000
6.25%
SFL-P-0000
6.21%
SMOT-N-0000
5.76%
CCS-N-0000
5.06%
LMF-N-0000
4.96%
VLL-N-0000
VI DULLANKA PLC
4.92%
ONAL-N-0000
4.91%
CI NS-X-0000
4.76%
ODEL-N-0000
ODEL PLC
4.50%
HPWR-N-0000
4.40%
MORI -X-0000
J.L.MORI SON, SON & JONES (CEYLON) PLC (Non Voti ng)
3.79%
CHL-N-0000
3.51%
LVEN-N-0000
3.19%
TI LE-N-0000
2.70%
COCR-N-0000
2.58%
CI NS-N-0000
2.08%
SEYB-N-0000
1.79%
LHL-N-0000
1.53%
CHOT-N-0000
1.30%
SI NG-N-0000
1.05%
Top Losers
No Security ID
Name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
REEF-W-0019
GEST-N-0000
-42.56%
AEL-N-0000
-31.01%
CFVF-N-0000
-29.50%
PCP-N-0000
PC PHARMA PLC
-28.57%
CSEC-N-0000
-27.58%
ASCO-N-0000
-26.35%
JKH-W-0022
-25.88%
BREW-N-0000
-25.79%
ESL-N-0000
-24.77%
EMER-N-0000
-24.62%
I DL-N-0000
-23.66%
SEMB-N-0000
S M B LEASI NG PLC
-23.08%
TESS-X-0000
-23.08%
HPFL-N-0000
-22.64%
SELI -N-0000
-22.50%
MASK-N-0000
-22.41%
CI TK-N-0000
-21.95%
JKH-W-0023
-21.35%
EDEN-N-0000
-20.75%
CHOU-N-0000
-20.41%
GSF-N-0000
-20.33%
ETWO-N-0000
-19.90%
ORI N-N-0000
-19.85%
HUEJ-N-0000
-19.74%
atchuthan@gihcapital.com
+94 117 452
800Change %
YTD Price
No Security ID
Name
1
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3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
PCH-N-0000
PC HOUSE PLC
50.00%
EMER-N-0000
36.23%
PARA-N-0000
31.63%
SDB-N-0000
29.26%
KFP-N-0000
25.93%
CI NS-N-0000
22.69%
SOY-N-0000
20.05%
SHAL-N-0000
19.44%
VLL-N-0000
VI DULLANKA PLC
17.54%
TJL-N-0000
16.99%
MHDL-N-0000
16.67%
GLAS-N-0000
16.33%
LMF-N-0000
16.28%
DI ST-N-0000
14.52%
HNB-N-0000
13.90%
SLND-N-0000
13.86%
CI NS-X-0000
13.64%
LALU-N-0000
12.79%
CCS-N-0000
12.53%
COCR-N-0000
12.36%
SMOT-N-0000
12.29%
LPRT-N-0000
10.32%
PARQ-N-0000
10.26%
SEYB-X-0000
10.26%
VPEL-N-0000
9.72%
Name
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
REEF-W-0019
JKH-W-0022
-69.41%
ASCO-N-0000
-62.11%
ESL-N-0000
-56.21%
JKH-W-0023
-55.72%
CI FL-N-0000
-53.33%
MARA-N-0000
-45.00%
PALM-N-0000
-42.63%
CFVF-N-0000
-42.55%
CI TK-N-0000
-40.82%
AEL-N-0000
-40.19%
PCP-N-0000
PC PHARMA PLC
-35.71%
GSF-N-0000
-35.18%
TFC-X-0000
-33.75%
CLND-N-0000
-33.15%
LI OC-N-0000
LANKA I OC PLC
-32.83%
ALHP-N-00000
-29.11%
TFC-N-0000
-29.05%
RGEM-N-0000
-28.57%
SEMB-N-0000
S M B LEASI NG PLC
-28.57%
AI NV-N-00000
-28.21%
ORI N-N-0000
-28.15%
CSEC-N-0000
-27.36%
CHOU-N-0000
-26.17%
CI TW-N-0000
-26.09%
Islamic Finance
Mudharabah Deposit Rates of March 2015 of Selected Service Providers
Savings 1 month 3 month 6 month 1 year
2 year
3 year
4 year
5 year
Amana Bank
Profit Sharing Ratio *
30:70
60:40
65:35
75:25
80:20
85:15
90:10
Distributed Profit
2.76%
5.75%
5.98%
6.91%
7.37%
7.83%
8.29%
45:55
Distributed Profit
2.10%
Commercial Bank of Ceylon PLC-Al Adalah Islamic Banking Unit-As of February 2015
Profit Sharing Ratio *
45:55
55:45
65:35
75:25
Distributed Profit
4.33%
5.20%
6.20%
7.20%
45:55
55:45
60:40
70:30
Distributed Profit
3.50%
5.75%
6.00%
6.25%
15:85
23:77
25:75
27:73
30:70
Distributed Profit
4.90%
5.42%
5.89%
6.36%
7.07%
30:70%
38:62
40:60
41:59
42:58
49:51
52:48
5.56%
7.03%
7.40%
7.59%
7.77%
9.07%
55:45
58:42
45:55
60:40
65:35
75:25
Distributed Profit
6.35%
5.92%
6.42%
7.40%
* Profit sharing ratio provides profit ratio for Customer: Financial Institution; Profits distributed at
Maturity
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
SYM B OL
ABAN.N0000
AEL.N0000
ACL.N0000
APLA.N0000
AGAL.N0000
AGST.N0000
ASPM.N0000
ALUF.N0000
ALUM.N0000
ABL.N0000
ATL.N0000
AMSL.N0000
BFL.N0000
BALA.N0000
BOGA.N0000
BOPL.N0000
COLO.N0000
CTLD.N0000
CWM.N0000
CIND.N0000
CFT.N0000
GRAN.N0000
CHL.N0000
CLPL.N0000
CPRT.N0000
CTEA.N0000
CHMX.N0000
LLUB.N0000
CIC.N0000
CHOU.N0000
PHAR.N0000
DOCK.N0000
CLND.N0000
SOY.N0000
DPL.N0000
DIAL.N0000
DIPD.N0000
EMER.N0000
ECL.N0000
ELPL.N0000
EQIT.N0000
ETWO.N0000
EXPO.N0000
HPFL.N0000
JFIN.N0000
GEST.N0000
HAPU.N0000
HARI.N0000
HAYC.N0000
HEXP.N0000
MGT.N0000
HPWR.N0000
HOPL.N0000
HUNT.N0000
ASPH.N0000
MORI.N0000
JKL.N0000
KAHA.N0000
KZOO.N0000
KCAB.N0000
TYRE.N0000
KVAL.N0000
LAMB.N0000
C OM P A N Y N A M E
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.
SYM B OL
LPRT.N0000
LALU.N0000
ASHO.N0000
CERA.N0000
LIOC.N0000
LMF.N0000
TILE.N0000
LWL.N0000
LDEV.N0000
LGL.N0000
LITE.N0000
MEL.N0000
MADU.N0000
MAL.N0000
MASK.N0000
MPRH.N0000
MHDL.N0000
MULL.N0000
NAMU.N0000
NHL.N0000
NEST.N0000
ODEL.N0000
OFEQ.N0000
PAP.N0000
PARA.N0000
GLAS.N0000
CARE.N0000
PDL.N0000
RWSL.N0000
REG.N0000
RAL.N0000
RHL.N0000
COCO.N0000
REXP.N0000
SIL.N0000
SMOT.N0000
SELI.N0000
IDL.N0000
SIRA.N0000
SHAL.N0000
SINI.N0000
SLTL.N0000
SUN.N0000
SING.N0000
PARQ.N0000
TPL.N0000
TSML.N0000
TESS.N0000
TJL.N0000
CFLB.N0000
AUTO.N0000
GOOD.N0000
INDO.N0000
LHCL.N0000
TAFL.N0000
TKYO.N0000
UDPL.N0000
UCAR.N0000
UML.N0000
VPEL.N0000
VLL.N0000
WATA.N0000
Commodity Outlook
Atchuthan Srirangan
atchuthan@gihcapital.com
+94 117 452 800
Sliver price movement
1300.00
USD/oz
USD/oz
1350.00
1250.00
1200.00
19.00
17.50
1150.00
16.00
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
1100.00
115
330
100
280
85
70
55
Mar-15
Jan-15
Feb-15
Dec-14
Oct-14
Nov-14
Sep-14
Aug-14
Jul-14
Jun-14
230
180
130
Jan-15
Jul-14
Jan-14
Jul-13
Jan-13
Jul-12
Jan-12
Jul-11
Jan-11
Jan-10
1250
Jul-10
80
Mar-15
Jan-15
Nov-14
Sep-14
Jul-14
May-14
Mar-14
40
450
1150
1050
LKR/Kg
USD/MT
Apr-14
LKR/pound
USD/Barrel
May-14
Mar-14
14.50
950
850
750
400
350
300
650
Jan-15
Jul-14
Jan-14
Jul-13
Jan-13
Jul-12
Jan-12
Jul-11
Jan-11
Jul-10
Jan-15
Jul-14
Jan-14
Jul-13
Jan-13
Jul-12
Jul-11
Jan-12
Jan-11
Jul-10
Jan-10
Jan-10
250
550
FOREX Outlook
Atchuthan Srirangan
atchuthan@gihcapital.com
1 Year App / (Dep) (%)
+94 117 452 800
Mar-14
Mar-15
USD
130.69
132.90
GBP
217.38
196.60
9.56%
EURO
179.74
143.87
19.96%
YEN
1.27
1.11
12.93%
AUD
120.92
101.59
15.99%
CAD
118.25
104.72
11.45%
INR
2.18
2.12
2.66%
BHD
346.66
352.50
-1.68%
CNY
21.02
21.42
-1.94%
-1.69%
GBP-LKR
USD-LKR
225.00
134.50
134.00
220.00
133.50
215.00
133.00
132.50
210.00
132.00
205.00
131.50
131.00
200.00
130.50
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2014
Mar-2014
195.00
130.00
JPY-LKR
EUR-LKR
1.30
185.00
180.00
175.00
170.00
165.00
160.00
155.00
150.00
145.00
140.00
1.25
1.20
1.15
1.10
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2014
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2014
1.05
DISCLAIMER
Atchuthan Srirangan
atchuthan@gihcapital.com
This publication, issued by GIH Capital Limited (GIHCapital) is based on publicly available information, information sources and data
+94no117
452 800
(the information) whose reliability is beyond question. Nonetheless, GIHCapital accepts
responsibility,
either express or implied,
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2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.