September 2010 - Guide to CSE

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Wednesday, September 29, 2010

Investors confident

12:52 PM 0
adopted from the Island.
 


Even before Sri Lanka decided to float the US$ 1 billion sovereign bond issue, which was 6.3 times oversubscribed and closed within 14 hours of the issues opening, on Monday (27), officials said foreign investors were keen on investing in government paper.

Central Bank Deputy Governor K. G. D. D. Dheerasinghe told The Island Financial Review that top officials had been on road shows to Singapore, Hong Kong, London and the US before deciding to float the bond issue.

"Investors were happy with our briefing them about Sri Lanka’s economy and they were making inquiries as to whether we would be issuing a debt instrument any time soon," he said. Dheerasinghe said these road shows were not specifically promoting the bond issue.

Central Bank Public Debt Department Superintendent C. J. P. Siriwardena said officials had met with investors in Singapore, Hong Kong, London, Boston, New York, Los Angeles and San Francisco with regards the bond issue. "They were happy and convinced about Sri Lanka," he said.
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Thursday, September 16, 2010

අන්තර්ජාලය හරහා කොටස් ගනුදෙනු කිරීම

1:52 PM 0
අන්තර්ජාලය හරහා කොටස් ගනුදෙනු කිරීමේ වාසි හා අවාසි

දැන් දැන් හුඟක්ම ආයෝජකයින් අන්තර්ජාලය හරහා කොටස් ගනුදෙනු කිරීමට වැඩි කැමැත්තක් දක්වනවා, හේතුව තමයි දැන් විශාල වෙබ් අඩවි ප්‍රමාණයක් තිබෙනව, ඉක්මනින්ම පොහොසත් වෙන්න පුළුවන් කියල පොරොන්දු දෙන. කොහොම උනත් අන්තර්ජාලය හරහා කොටස් ගනුදෙනු කිරීමේ වාසි වගේම අවාසිත් තිබෙන බව මතක තබා ගත යුතුයි. කොටස් වෙළඳපළ කියන්නෙ හරිම සංකීර්ණ යන්ත්‍රයක් වගේ දෙයක්, හරියට, අදාල විදිහට ක්‍රියාත්මක කළේ නැතිනම් හරිම අවදානම් දෙයක්. 
ආයෝජන උපදෙස් නොදෙන තැරැව්කාර ආයතනයක් හරහා නම් ඔබ කොටස් ගනුදෙනු කරන්න හදන්නෙ, කොටස් වෙළඳපළ හා එහි ක්‍රියාකාරිත්වය සම්බන්ධයෙන් ඉහළ දැනුමක් ඔබට අනිවාර්යයෙන්ම තිබිය යුතු වෙනවා. නැතිනම් ඔබට ලාභයක් ගන්න නම් බැරි වේවි. තැරැව්කරුවෙක් කියන්නෙ කොටස් වෙළඳපළ හා සම්බන්ධ වී කොටස් ගනුදෙනු කළ හැකි ආයතනයක්. ඔබ තනිවම කොටස් ගනුදෙනු කළත් කරන්නෙ ඒ තැරැව්කරුවා හරහාම තමයි. (ලංකාවෙ සියළුම තැරැව්කාර ආයතනයන්ම ආයෝජන උපදෙස් ලබා දෙනවා, ඒ නිසා ඒ ගැන බයක් වෙන්න ඕනෙ නෑ.)


කොටස් මිලදී ගැනීම, විකිණීම සැලැසුම් සහගතව කළ යුත්තක්. ඒ එක්කම ඔබට පුළුවන් වෙන්න ඕනෙ, වෙලදපළ තත්වය සම්බන්ධයෙන් විශ්ලේෂනාත්මකව පරික්ෂා කරලයි කොටස් ගන්න/විකුණන එක තීරණය කරන්න ඕනෙ, අරක හොඳයි මේක හොඳයි කියල හිතෙන හිතෙන විදිහට කොටස් මිලට ගන්න නරකයි. එක එක තැරැව්කරුවන් එක එක විදිහෙ Trading Platforms (trading software) ලබා දෙනවා, ඒ එක එකක තිබෙන දේවල් වෙනස්. (සමහර ඒවයේ market analysis reports පවා තිබෙනව, සමහර ඒවයෙ නෑ). ඔබට පරික්ෂා කරල බලන්න Demo account එකක් වගේ ගන්න පුළුවන් නම්, ඔබට පහසුවෙයි එක එක ඒවායෙ තිබෙන වාසි අවාසි දැනගන්න. (අවාසනාවට ලංකාවෙ නම් එහෙම ගන්න බෑ)

හොඳම ක්‍රමය තමයි, ඔබගේ උපදේශකගෙන් උපදෙස් ගන්න ගමන්ම, තමනුත් හොඳින් වෙළඳපළ අධ්‍යයනය කිරීම. එතකොට ඔබටත් පුළුවන් යම් තීරනයක් ගන්න, සහ ඔබගේ උපදේශකගේ තීරණයේ නිරවද්‍යතාවය තහවුරු කරගන්න. ඒත් එක්කම විශ්වාසයකින් යුතුව ආයෝජනයක් කිරීමේ හැකියාව ඔබට ලැබෙනවා. 

ඒත් එක්කම ඔබගේ ඉලක්කය ගැනත් සිතිය යුතුයි, මම මීට පෙර ලිපියකත් ඒ ගැන කියල තියෙනවා, ඒ ඉලක්කයට අනුවයි ඔබ ක්‍රියාත්මක විය යුත්තේ. 

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Price band on stocks lifted

10:09 AM 1
Adopted from island.lk 


The Securities and Exchange Commission (SEC) will lift a 10 percent price band on all listed stocks from next Monday (20) and permit carried forward orders for all securities.
The price band came into effect on August 4 after prices of certain stocks were seen rising without being backed by sound fundamentals which resulted in a trading freeze imposed on these stocks which was lifted and replaced with a 10 percent price band on all stocks.
While the regulator defended the price band on the basis that it would deter market volatility, some were sceptical it was a good move. However, investors and brokers involved in trading in these controversial stocks are being investigated for possible market manipulation. Some investors have been buying cheap and dumping stocks when prices were on the upward trend.
The SEC has devised a formula, based on price volatility and volume traded adjusted to public holding, on a daily rollover basis for the proceeding review period of 5 market days. This is to be published by the Colombo Stock Exchange in a list depicting the stocks captured as a result of the formula.
Stocks that have been thus identified would be imposed with a 10 percent price band which would be effective over 15 market days, and only day orders for these stocks would be allowed while carried forward orders would be purged.
And while the price band on these stocks are effective, brokers are required to obtain not less than 50 percent of settlement value upfront in the form of realised funds.
The new formula would not apply to first day trading on any security, parcels trading, crossings, debentures, securities with a closing price of less than a rupee, a first day trading where the issued quantity of shares is increased due to a sub-division of shares.

Meanwhile, the SEC has asked brokers not to extend credit facilities to investors for more than three days after the transaction date. If credit is provided beyond this time frame, brokers are required to do so through a Margin Provider registered with the SEC. It has given brokers time till January 01, 2011 to regularize any backlog of credit with a Margin Provider.
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Monday, September 13, 2010

ආයෝජකයින් දැනුවත් කිරීමේ වැඩසටහන - කොටස් වෙළඳ පළ - මීගමුව ශාඛාව

4:43 PM 0
ස්ථානය - කොළඹ කොටස් වෙළඳ පළ - මීගමුව ශාඛාව 
ගාස්තුව - රු. 500/=
2010 සැප්: 17 ප.ව. 5.00 - මූල්‍ය සැලසුම්කරණය
2010 සැප්: 24 ප.ව. 5.00 - කොටස් ආයෝජනයේ ප්‍රථිලාභ හා අවදානම
2010 ඔක්: 01 ප.ව. 5.00 - නිවැරදි ආයෝජන තීරණ හා ගනුදෙනු ආරම්භය
2010 ඔක්: 08 ප.ව. 5.00 - මූල්‍ය ප්‍රකාශන විශ්ලේෂණය

වැඩි විස්තර හා ලියාපදිංචිය සඳහා  031-2227859/61 හෝ priyantha@cse.lk

සංවිධානය: කොටස් වෙළඳ පළ - මීගමුව ශාඛාව, 142, ග්‍රීන්ස් පාර, මීගමුව.

මේ වගේ වැඩමුළු ගැන දැනගන් අපේ feed එකට එකතු වන්න.
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Sunday, September 12, 2010

Share splits rule Stock Market

4:31 PM 0
Adopted from "Bottom Line"

Stock market analysts are predicting more listed firms going for subdivision of shares, which are commonly known as share splits, as they seem to be more interested in offering investors with a ‘wow’ effect than valuations and strong fundamentals.
Analysts are expecting several banks, plantation companies, diversified groups and a few other firms of which, quite ironically the stock prices are not so high, are likely to go for share splits in the coming few months to play on the psychology of investors.
“Share split has become the buzz word in the market. They are mainly done to unlock the value that has been created by a certain stock which goes unnoticed possibly due to the high price. But sometimes it is done to prop up share prices,” an analyst said.
As he pointed out, it is relatively easy for a company to go for a share subdivision than any other instrument because the procedure for a split seems quite simple.
The company doesn’t have to obtain the approval from the CSE but can go ahead with a share subdivision subject to the shareholders’ approval at an Extraordinary General Meeting (EGM).
And also the cost a company has to bear when going for a share split is almost zero as no taxes or stamp duties are involved.
The primary objective of a share split is to make a certain share more affordable to small investors by splitting the share at an agreed ratio.
However, a stock split does not change the intrinsic value of a stock and market capitalisation of it at the time of the announcement of the split.
Following a share split, small investors generally think the stock is now reasonably priced and their buying into the share boosts the demand for the share and drive up the prices.
This can ultimately result in furthering the firm’s market capitalisation.
“The recent share splits have been able to keep the market active and increase the investor participation,” a broker attached to a leading stockbrokerage said.
The latest being the Richard Pieris PLC, a number of firms such as Aitken Spence, Sampath Bank, and Hotel Services Ceylon opted for share splits in bid to be more liquid and attract retailer interest.
However, many are doubtful whether the market can sustain this bull run with these kinds of psychological bait thrown towards the retailers and punters.
“This bull run will get slow down sooner or later as fundamentals will start to play their role in the market. This is obviously short-term boost. With low interest rates and government bringing a lot of firepower to the market through various institutions, it is no brainer that the market is going up,” a stock market analyst, who preferred anonymity, said.
The Colombo Stock Exchange’s benchmark index, All Share Price Index, reached 6,000 points on Thursday.
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Tuesday, September 7, 2010

Price band to stay

10:14 AM 0
Adopted from island.lk


article_image

By Hiran H.Senewiratne

A top official of the Securities and Exchange Commission (SEC) said the 10 percent price band on day-traded stocks would not be lifted in the foreseable future.

"The stock exchange is performing well with daily turnover improving and there is less volatility in the market, so we do not think it would be necessary to lift the price band notwithstanding the speculation that it would be removed in the foreseable future. At the moment, we see no reason why it should be lifted," SEC Deputy Director General Malik Cader told The Island Financial Review.

Cader said possible market manipulation by stockbrokers and other investors were still being looked into and added that efforts are being made to further arrest volatility in market manipulations in future.

Last month, the SEC imposed a 10 percent price band on all stocks after withdrawing the trading suspension imposed on Dankotuwa Porcelain PLC (DPL), Touchwood Investment PLC (TWOD), Blue Diamonds Jewellery Worldwide PLC (BLUE) and the share warrants of Environmental Resources Investment PLC (GREG) owing to unusually excessive price movements and extra ordinary trading volumes.

Days after the price band was introduced the All Share Price Index reached 4,862.86 points, losing 202.21 points or 3.99 percent while MiLanka Price Index fell by 210.30 points, or 3.65 percent, to 5,549.15 points and brokers said the market was falling, but predicted that fundamentally sound stocks would revive the market, which it did.

Yesterday, the All Share Price Index reached 5,858.54 points, while the MiLanka Price Index of more liquid stocks reached 6,036.02 points.

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Saturday, September 4, 2010

Retailers help drive CSE to new heights

11:51 AM 0

article_image
Adopted from island.lk
The Colombo bourse soared yesterday sustained this week’s upward momentum with the Milanka Price Index comfortably clearing the 6,000-point barrier and the All Share Price Index also gaining tidily on a turnover of Rs.4.1 billion, up from the precious dayRs.3.35 billion, with retailers driving the market.


The All Share Price Index was up 94.50 points (1.63%) and the Milanka up 83.80 points (1.45%) with 121 gainers comfortably ahead of 55 losers.


"There was a lot of retail play in a large number of stocks including Distilleries, SLT, Grain Elevators, Kelani Tyres and MBSL (Merchant Bank)," Prashan Fernando of Acuity Stockbrokers said.


"Stocks like Browns, Richard Pieris and Ceylinco Seylan Development also attracted retail play with the upward movement of several stocks halted by the 10% price band ceiling."


JKH was the day’s top business generator with nearly 1.3 million shares traded between Rs.266.80 and Rs.275 closing Rs.2.50 up at Rs.268.50. Brokers said there were three crossings – two at Rs.275 and one at Rs.270.


Browns too saw a single crossing of 1.3 million shares at Rs.151.20 with a total of over two million shares done between Rs.157 and Rs.170 gaining Rs.6.70 to close at Rs.165.50.


Richard Pieris was up Rs.13 to Rs.144.80 with nearly 1.5 million shares done between Rs.136 and Rs.144.80 while Ceylinco Seylan gained Rs.1.70 to close at Rs.18.70 on 7.9 million shares traded.


The Finance continued to demonstrate volume with slightly over 1.8 million shares done between Rs.52.90 and Rs.64. The counter closed Rs.1.50 down at Rs.54.


Hemas Holdings with nearly 2.6 million shares done between Rs.38.90 and Rs.40 was up 90 cents to close at Rs.40 while Distilleries gained Rs.3.80 to close at Rs.152 on over 0.6 million shares done.


Grain Elevators (2.1 million shares) was up Rs.4.30 to close at Rs.47.70 while SLT nudged 2 million shares traded mark gaining Rs.3.60 to close at Rs.49.


Other shares that crossed the million share volume included Merchant Bank (1.9 million), Keells Hotels (3.2 million), Nation Lanka (2.3 million), PMB (1.7 million), Touchwood (1.4 million) and Central Securities (3.3 million).


Lankem and Sigiriya Village Hotels announced the dates to their rights issue where Lankem is offering one for seven at Rs.85 and Sigiriya Village seven for 23 at Rs.90.


PMB announced that it is taking over the assets and liabilities of People’s Merchant Finance Co. Ltd., 99.9% owned by itself, to amalgamate the two companies.


Kelani Tyres announced a share sub-division of one existing share divided into two increasing the number of shares in issue from 40.2 million to Rs.80.2 million subject to shareholder approval and Stock Exchange clearance. A special resolution for this purpose will be moved at the company’s September 28 AGM.

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