SRI LANKA

MARKET UPDATE &

REVIEW
MARCH 2015
Content

Market Brief
Equity Market Outlook
Islamic Finance
Commodity Outlook
Forex Outlook

GIH Capital Limited

(Registered with Securities and Exchange commission of Sri Lanka (SEC))
All Rights Reserved.

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.

One Year ASPI & S&P SL 20

ASPI

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 Value and Daily Turnover March 2015

Turnover

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.

March Foreign Flow

Foreign Purchase

Atchuthan Srirangan
atchuthan@gihcapital.com
+94 117 452 800

Foreign Sales

Net Inflow / (Outflow)

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.

Percentage wise Top 25 Gainers and

Losers in Mar 2015
Atchuthan Srirangan
Top Gainers

atchuthan@gihcapital.com
MTD Price
+94 117 452
800Change %

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

PCH-N-0000

PC HOUSE PLC

33.33%

SFL-N-0000

SI NHAPUTHRA FI NANCE PLC

11.12%

AGAL-N-0000

AGALAWATTE PLANTATI ONS PLC

9.56%

AMF-N-0000

ASSOCI ATED MOTOR FI NANCE COMPANY PLC

6.98%

ARPI -N-0000

ARPI CO FI NANCE COMPANY PLC

6.55%

BLUE-N-0000

BLUE DI AMONDS JEWELLERY WORLDWI DE PLC

6.25%

SFL-P-0000

SI NHAPUTHRA FI NANCE PLC (Pre fe re nce )

6.21%

SMOT-N-0000

SATHOSA MOTORS PLC

5.76%

CCS-N-0000

CEYLON COLD STORES PLC

5.06%

LMF-N-0000

LANKA MI LK FOODS (CWE) PLC

4.96%

VLL-N-0000

VI DULLANKA PLC

4.92%

ONAL-N-0000

ON'ALLY HOLDI NGS PLC

4.91%

CI NS-X-0000

CEYLI NCO I NSURANCE PLC (Non Voti ng)

4.76%

ODEL-N-0000

ODEL PLC

4.50%

HPWR-N-0000

HEMAS POWER PLC

4.40%

MORI -X-0000

J.L.MORI SON, SON & JONES (CEYLON) PLC (Non Voti ng)

3.79%

CHL-N-0000

CEYLON HOSPI TALS PLC

3.51%

LVEN-N-0000

LANKA VENTURES PLC

3.19%

TI LE-N-0000

LANKA FLOORTI LES PLC

2.70%

COCR-N-0000

COMMERCI AL CREDI T AND FI NANCE PLC

2.58%

CI NS-N-0000

CEYLI NCO I NSURANCE PLC

2.08%

SEYB-N-0000

SEYLAN BANK PLC

1.79%

LHL-N-0000

THE LI GHTHOUSE HOTEL PLC

1.53%

CHOT-N-0000

CEYLON HOTELS CORPORATI ON PLC

1.30%

SI NG-N-0000

STANDARD CAPI TAL PLC

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

CI TRUS LEI SURE PLC (Wa rra nt)

MTD Price Change %

-44.44%

GEST-N-0000

GESTETNER OF CEYLON PLC

-42.56%

AEL-N-0000

ACCESS ENGI NEERI NG LI MI TED

-31.01%

CFVF-N-0000

FI RST CAPI TAL HOLDI NGS PLC

-29.50%

PCP-N-0000

PC PHARMA PLC

-28.57%

CSEC-N-0000

DUNAMI S CAPI TAL PLC

-27.58%

ASCO-N-0000

ASCOT HOLDI NGS PLC

-26.35%

JKH-W-0022

JOHN KEELLS HOLDI NGS PLC (Wa rra nt)

-25.88%

BREW-N-0000

CEYLON BEVERAGE HOLDI NGS PLC

-25.79%

ESL-N-0000

ENTRUST SECURI TI ES PLC

-24.77%

EMER-N-0000

EASTERN MERCHANTS PLC

-24.62%

I DL-N-0000

SERENDI B ENGI NEERI NG GROUP PLC

-23.66%

SEMB-N-0000

S M B LEASI NG PLC

-23.08%

TESS-X-0000

TESS AGRO PLC (Non Voti ng)

-23.08%

HPFL-N-0000

F L C HYDRO POWER PLC

-22.64%

SELI -N-0000

SELI NSI NG PLC

-22.50%

MASK-N-0000

MASKELI YA PLANTATI ONS PLC

-22.41%

CI TK-N-0000

KALPI TI YA BEACH RESORT PLC

-21.95%

JKH-W-0023

JOHN KEELLS HOLDI NGS PLC (Wa rra nt)

-21.35%

EDEN-N-0000

EDEN HOTEL LANKA PLC

-20.75%

CHOU-N-0000

CI TY HOUSI NG & REAL ESTATE COMPANY PLC

-20.41%

GSF-N-0000

GEORGE STEUART FI NANCE PLC

-20.33%

ETWO-N-0000

EQUI TY TWO PLC

-19.90%

ORI N-N-0000

ORI ENT FI NANCE PLC

-19.85%

HUEJ-N-0000

HUEJAY I NTERNATI ONAL I NVESTMENTS PLC

-19.74%

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.

Percentage wise Top 25 Gainers and

Losers YTD
Atchuthan Srirangan
Top 25 Gainers YTD (Year-to-date)

atchuthan@gihcapital.com
+94 117 452
800Change %
YTD Price

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

PCH-N-0000

PC HOUSE PLC

50.00%

EMER-N-0000

EASTERN MERCHANTS PLC

36.23%

PARA-N-0000

PARAGON CEYLON PLC

31.63%

SDB-N-0000

SANASA DEVELOPMENT BANK PLC

29.26%

KFP-N-0000

KEELLS FOOD PRODUCTS PLC

25.93%

CI NS-N-0000

CEYLI NCO I NSURANCE PLC

22.69%

SOY-N-0000

CONVENI ENCE FOODS LANKA PLC

20.05%

SHAL-N-0000

SHALI MAR (MALAY) PLC.

19.44%

VLL-N-0000

VI DULLANKA PLC

17.54%

TJL-N-0000

TEXTURED JERSEY LANKA PLC

16.99%

MHDL-N-0000

MI LLENNI UM HOUSI NG DEVELOPERS PLC

16.67%

GLAS-N-0000

PI RAMAL GLASS CEYLON PLC

16.33%

LMF-N-0000

LANKA MI LK FOODS (CWE) PLC

16.28%

DI ST-N-0000

DI STI LLERI ES COMPANY OF SRI LANKA PLC

14.52%

HNB-N-0000

HATTON NATI ONAL BANK PLC

13.90%

SLND-N-0000

SERENDI B LAND PLC

13.86%

CI NS-X-0000

CEYLI NCO I NSURANCE PLC (Non Voti ng)

13.64%

LALU-N-0000

LANKA ALUMI NI UM I NDUSTRI ES PLC

12.79%

CCS-N-0000

CEYLON COLD STORES PLC

12.53%

COCR-N-0000

COMMERCI AL CREDI T AND FI NANCE PLC

12.36%

SMOT-N-0000

SATHOSA MOTORS PLC

12.29%

LPRT-N-0000

LAKE HOUSE PRI NTERS & PUBLI SHERS PLC

10.32%

PARQ-N-0000

SWI SSTEK (CEYLON) PLC

10.26%

SEYB-X-0000

SEYLAN BANK PLC (Non Voti ng)

10.26%

VPEL-N-0000

VALLI BEL POWER ERATHNA PLC

9.72%

Top 25 Losers YTD (Year-to-date)

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

CI TRUS LEI SURE PLC (Wa rra nt)

YTD Price Change %

-85.71%

JKH-W-0022

JOHN KEELLS HOLDI NGS PLC (Wa rra nt)

-69.41%

ASCO-N-0000

ASCOT HOLDI NGS PLC

-62.11%

ESL-N-0000

ENTRUST SECURI TI ES PLC

-56.21%

JKH-W-0023

JOHN KEELLS HOLDI NGS PLC (Wa rra nt)

-55.72%

CI FL-N-0000

CENTRAL I NVESTMENTS AND FI NANCE PLC

-53.33%

MARA-N-0000

MARAWI LA RESORTS PLC

-45.00%

PALM-N-0000

PALM GARDEN HOTELS PLC

-42.63%

CFVF-N-0000

FI RST CAPI TAL HOLDI NGS PLC

-42.55%

CI TK-N-0000

KALPI TI YA BEACH RESORT PLC

-40.82%

AEL-N-0000

ACCESS ENGI NEERI NG LI MI TED

-40.19%

PCP-N-0000

PC PHARMA PLC

-35.71%

GSF-N-0000

GEORGE STEUART FI NANCE PLC

-35.18%

TFC-X-0000

THE FI NANCE COMPANY PLC (Non Voti ng)

-33.75%

CLND-N-0000

COLOMBO LAND AND DEVELOPMENT COMPANY PLC

-33.15%

LI OC-N-0000

LANKA I OC PLC

-32.83%

ALHP-N-00000

ANI LANA HOTELS AND PROPERTI ES LI MI TED

-29.11%

TFC-N-0000

THE FI NANCE COMPANY PLC

-29.05%

RGEM-N-0000

RADI ANT GEMS I NTERNATI ONAL PLC

-28.57%

SEMB-N-0000

S M B LEASI NG PLC

-28.57%

AI NV-N-00000

ADAM I NVESTMENTS LI MI TED

-28.21%

ORI N-N-0000

ORI ENT FI NANCE PLC

-28.15%

CSEC-N-0000

DUNAMI S CAPI TAL PLC

-27.36%

CHOU-N-0000

CI TY HOUSI NG & REAL ESTATE COMPANY PLC

-26.17%

CI TW-N-0000

WASKADUWA BEACH RESORT PLC

-26.09%

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.

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%

Bank of Ceylon Islamic Businees Unit

Profit Sharing Ratio *

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%

Hatton National Bank PLC-"Hnb Al-Najah"Islamic Banking unit

Profit Sharing Ratio *

45:55

55:45

60:40

70:30

Distributed Profit

3.50%

5.75%

6.00%

6.25%

LB Al Salamal(LB Finance PLC-Islamic Business Unit)- As of February 2015

Profit Sharing Ratio *

15:85

23:77

25:75

27:73

30:70

Distributed Profit

4.90%

5.42%

5.89%

6.36%

7.07%

LOLC Al-Falaah(Lanka Orix Finance PLC-Islamic Business Unit)- As of February 2015

Profit Sharing Ratio *
Distributed Profit

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%

9.62% 10.18% 10.73%

55:45

58:42

Peoples Leasing Islamic Business Unit

Profit Sharing Ratio *

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

There's no shame in losing money on a stock. Everybody does it. What is

shameful is to hold on to a stock, or worse, to buy more of it when the
fundamentals are deteriorating.
Peter Lynch
Source : Respective Bank Data
2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

White Listed Companies

C OM P A N Y N A M E

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

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC
ACL CABLES PLC
ACL PLASTICS PLC
AGALAWATTE PLANTATIONS PLC
AGSTAR FERTILIZERS PLC
AITKEN SPENCE PLANTATION MANAGEMENTS
ALUFAB PLC
ALUMEX LIMITED
AMANA BANK LIMITED
AMANA TAKAFUL PLC
ASIRI SURGICAL HOSPITAL PLC
BAIRAHA FARMS PLC
BALANGODA PLANTATIONS PLC
BOGALA GRAPHITE LANKA PLC
BOGAWANTALAWA TEA ESTATES PLC
C M HOLDINGS PLC
C T LAND DEVELOPMENT PLC
C. W. MACKIE PLC
CENTRAL INDUSTRIES PLC
CEYLON & FOREIGN TRADES PLC
CEYLON GRAIN ELEVATORS PLC
CEYLON HOSPITALS PLC (DURDANS)
CEYLON LEATHER PRODUCTS PLC
CEYLON PRINTERS PLC
CEYLON TEA SERVICES PLC
CHEMANEX PLC
CHEVRON LUBRICANTS LANKA PLC
CIC HOLDINGS PLC
CITY HOUSING & REAL ESTATE CO. PLC
COLOMBO CITY HOLDINGS PLC
COLOMBO DOCKYARD PLC
COLOMBO LAND & DEVELOPMENT COMPANY PLC
CONVENIENCE FOODS (LANKA )PLC
DANKOTUWA PORCELAIN PLC
DIALOG AXIATA PLC
DIPPED PRODUCTS PLC
EASTERN MERCHANTS PLC
E-CHANNELLING PLC
ELPITIYA PLANTATIONS PLC
EQUITY ONE PLC
EQUITY TWO PLC
EXPOLANKA HOLDINGS PLC
F L C HYDRO POWER PLC
FINLAYS COLOMBO PLC
GESTETNER OF CEYLON PLC
HAPUGASTENNE PLANTATIONS PLC
HARISCHANDRA MILLS PLC
HAYCARB PLC
HAYLEYS FIBRE PLC
HAYLEYS MGT KNITTING MILLS PLC
HEMAS POWER PLC
HORANA PLANTATIONS PLC
HUNTERS & COMPANY PLC
INDUSTRIAL ASPHALTS (CEYLON) PLC
J.L. MORISON SONS & JONES (CEYLON) PLC
JOHN KEELLS PLC
KAHAWATTE PLANTATIONS PLC
KALAMAZOO SYSTEMS PLC
KELANI CABLES PLC
KELANI TYRES PLC
KELANI VALLEY PLANTATIONS PLC
KOTMALE HOLDINGS PLC

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

LAKE HOUSE PRINTERS AND PUBLISHERS PLC

LANKA ALUMINIUM INDUSTRIES PLC
LANKA ASHOK LEYLAND PLC
LANKA CERAMIC PLC
LANKA IOC PLC
LANKA MILK FOODS (CWE) PLC
LANKA TILES PLC
LANKA WALLTILES PLC
LANKEM DEVELOPMENTS PLC
LAUGFS GAS PLC
LAXAPANA BATTERIES PLC
MACKWOODS ENERGY PLC
MADULSIMA PLANTATIONS PLC
MALWATTE VALLEY PLANTATIONS PLC
MASKELIYA PLANTATIONS PLC
METROPOLITAN RESOURCE HOLDINGS PLC
MILLENNIUM HOUSING DEVELOPERS LIMITED
MULLER AND PHIPPS (CEYLON) PLC
NAMUNUKULA PLANTATIONS PLC
NAWALOKA HOSPITALS PLC
NESTLE LANKA PLC
ODEL PLC
OFFICE EQUIPMENT PLC
PANASIAN POWER PLC
PARAGON CEYLON PLC
PIRAMAL GLASS CEYLON PLC
PRINTCARE PLC
PROPERTY DEVELOPMENT PLC
RAIGAM WAYAMBA SALTERNS PLC
REGNIS(LANKA) PLC
RENUKA AGRI FOODS PLC
RENUKA HOLDINGS PLC
RENUKA FOODS PLC
RICHARD PIERIS EXPORTS PLC
SAMSON INTERNATIONAL PLC
SATHOSA MOTORS PLC
SELINSING PLC
SERENDIB ENGINEERING GROUP PLC
SIERRA CABLES PLC
SHALIMAR (MALAY) PLC
SINGER INDUSTRIES (CEYLON) PLC
SRI LANKA TELECOM PLC
SUNSHINE HOLDINGS PLC
STANDARD CAPITAL PLC
SWISSTEK (CEYLON) PLC
TALAWAKELLE TEA ESTATES PLC
TEA SMALLHOLDER FACTORIES PLC
TESS AGRO PLC
TEXTURED JERSEY LANKA PLC
THE COLOMBO FORT LAND & BUILDING PLC
THE AUTODROME PLC
THE GOOD HOPE PLC
THE INDO MALAY PLC
THE LANKA HOSPITAL CORPORATION PLC
THREE ACRE FARMS PLC
TOKYO CEMENT COMPANY (LANKA) PLC
UDAPUSSELLAWA PLANTATIONS PLC
UNION CHEMICALS LANKA PLC
UNITED MOTORS LANKA PLC
VALLIBEL POWER ERATHNA PLC
VIDULLANKA PLC
WATAWALA PLANTATIONS PLC

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

Gold price movement

23.50
1400.00
22.00
20.50

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

Sri Lanka tea price

movement

Palm oil price movement

500

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

Rubber price movement

LKR/pound

USD/Barrel

Crude oil price movement

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

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.

FOREX Outlook

Atchuthan Srirangan
atchuthan@gihcapital.com
1 Year App / (Dep) (%)
+94 117 452 800

Exchange Rates vs. LKR

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

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.

DISCLAIMER

Atchuthan Srirangan
atchuthan@gihcapital.com
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+94no117
452 800
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About Us
GIH Capital Limited (GIH Capital) is a boutique, multi-disciplinary Islamic investment management and advisory firm licensed by the
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Capital specializes in both traditional and alternative investment instruments and offers high degree of sophistication in managing
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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.