The bourse edges lower once again

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- Index 11th Mar 10th Mar Change % Change ASPI 5,944.57 5,957.61 (13.04) -0.22% S&P SL20 3,240.12 3,252.29 (12.17) -0.37% Market Statistics 11th Mar 10th Mar Value of Turnover(Rs.

Turnover (No.) 18,037,515 19,806,037 PER 15.73 15.76 PBV 1.96 1.

The benchmark ASPI closed at 5,944.57 losing 13.04 points or 0.22%, falling to a lowest level in a week. The S&P SL20 ended the day at 3,240.12, dropping by 12.17 points or 0.37%.

1 - Index 11th Mar 10th Mar Change % Change ASPI 5, , (13.04) -0.22% S&P SL20 3, , (12.17) -0.37% Market Statistics 11th Mar 10th Mar Value of Turnover(Rs.) 804,558, ,305,916 Domestic Purchases 602,916, ,264,242 Domestic Sales 672,206, ,820,218 Foreign Purchases 201,642, ,041,674 Foreign Sales 132,352, ,485,697 Volume of Turnover (No.) 18,037,515 19,806,037 PER PBV The bourse edges lower once again The market ended the day on a negative note extending the previous day s loses, while resulting in both indices to close within the red terrain. The benchmark ASPI closed at 5, losing points or 0.22%, falling to a lowest level in a week. The S&P SL20 ended the day at 3,240.12, dropping by points or 0.37%. As at the daily closure the total market capitalization dropped to LKR 2.48Tn, reducing the year to date gain (0.93%) below 1.0%. The market PER & PBV were 15.73x & 1.96x respectively. 7,000 6,000 5,000 4,000 3,000 2,000 1, Rs.Mn 0 5, , , , , , , , , , Sch th Mar 6th Mar 7th Mar 10th Mar 11th Mar ASPI S&P SL20 5th Mar 6th Mar 7th Mar 10th Mar 11th Mar Turnover Foreign Purchases Volume Volume Mn Off board interest on UML, COMB and OGL collectively added LKR Mn, representing nearly 71.0% of the aggregated turnover for the day which totaled up to record LKR Mn. The turnover saw a momentous increase of % from the previous trading day. United Motors Lanka PLC (UML) spearheaded the daily turnover list by making a contribution of LKR Mn while accounting to 58.29% of it. The counter witnessed a substantial quantity of 3.40Mn shares being dealt at price LKR /-, by way of an off-market transactions which also allowed UML to dominate the highly traded counters for the day as well. As at the daily closure UML closed at LKR /- charting a drop of LKR 1.90/- or 1.51%. Commercial Bank of Ceylon PLC & John Keells Holdings PLC managed to secure a place amidst the top 3 subscribers to the turnover by providing LKR Mn and LKR 60.70Mn respectively. COMB closed the day at LKR /- dropping by LKR 0.70/- or 0.61% and JKH settled the day at LKR /-, its lowest price reached within the day s trading, indicating a drop of LKR 2.00/- or 0.88%.

2 Furthermore, the crossing recorded on Commercial Bank amounted to LKR 77.17Mn (671K shares dealt at LKR /-) and Orient Garments was LKR 21.09Mn (2.48Mn shares blocked at LKR 8.50/-). Under the sectorial contributions, Motors (MTR) sector provided LKR Mn (58.30% of the aggregated turnover) dominating the list and Bank Finance & Insurance (BFI) sector added LKR Mn to the day s total turnover. The daily traded volume amounted to 18.04Mn shares, indicating a drop of 8.93% against the previous trading day. Orient Garments PLC & Citrus Leisure PLC W19 stood next in line to UML under the list of the highly traded counters for the day with a total of 3.16Mn & 1.24Mn shares respectively changing hands. Price losers slashed the price gainers by 123:42, where Serendib Hotels PLC (+11.64%) headed the gainers, on the contrary Ceylon Leather Products PLC W13 (-33.33%) led the price losers. So far, foreign participants have proven to be bullish for the 5 th consecutive trading day resulting in a net inflow of LKR 69.29Mn, reducing the year to date net foreign outflow to LKR 3.90Bn. Foreign buying for the day amounted to LKR Mn and selling amounted to LKR Mn. With regard to the local FOREX market, the rupee continued to appreciate further against the USD; The Dollar (USD) is currently selling at LKR /- and is bought at LKR /-. Market Capitalisation Company Name Price Issued Qty Mkt Capitalization As a % (Total) JOHN KEELLS HOLDINGS PLC ,236, ,803,135, CEYLON TOBACCO COMPANY PLC 1, ,323, ,736,399, NESTLE LANKA PLC 2, ,725, ,599,944, COMMERCIAL BANK OF CEYLON PLC ,749,289 91,396,168, SRI LANKA TELECOM PLC ,804,860,000 80,677,242, DIALOG AXIATA PLC ,143,778,405 73,294,005, CARSON CUMBERBATCH PLC ,386,914 68,735,419, DISTILLERIES COMPANY OF SRI LANKA PLC ,000,000 60,990,000, THE BUKIT DARAH PLC ,000,000 54,876,000, HATTON NATIONAL BANK PLC ,681,167 49,230,899, Highest Volume Highest Turnover Company Name Share Turnover (Rs) Company Name Trade Share Turnover (Rs) Vol. Vol. Vol. UNITED MOTORS LANKA PLC 3,398, ,948, UNITED MOTORS LANKA PLC 3 3,398, ,948, ORIENT GARMENTS PLC 3,163,175 26,887, COMMERCIAL BANK OF CEYLON PLC , ,864, CITRUS LEISURE PLC (W19) 1,243,513 1,492, JOHN KEELLS HOLDINGS PLC ,784 60,700, COMMERCIAL BANK OF CEYLON PLC 963, ,864, NATIONAL DEVELOPMENT BANK PLC ,497 27,809, DIALOG AXIATA PLC 928,936 8,363, ORIENT GARMENTS PLC 34 3,163,175 26,887, PIRAMAL GLASS CEYLON PLC 818,638 2,952, ROYAL CERAMICS LANKA PLC ,042 12,720, BLUE DIAMONDS JEWELLERY WORLDWIDE PLC 618,877 2,102, DIALOG AXIATA PLC ,936 8,363, TOUCHWOOD INVESTMENTS PLC 539,754 1,389, CITRUS LEISURE PLC ,231 4,327, SMB LEASING PLC (X) 480, , SRI LANKA TELECOM PLC 29 85,632 3,768, BLUE DIAMONDS JEWELLERY WORLDWIDE PLC (X) 311, , JOHN KEELLS HOLDINGS PLC (W23) 38 47,186 3,111,262.40

3 Top Gainers Company Name VWA Prev VWA Days Change Change High Low No. of Turnover Close Close (Rs.) % (Rs.) (Rs.) Shares (Rs.) SERENDIB HOTELS , , UDAPUSSELLAWA , BERUWALA RESORTS , , PEGASUS HOTELS INDUSTRIAL ASPH Top Losers Company Name VWA Prev VWA Days Change Change High Low No. of Turnover Close Close (Rs.) % (Rs.) (Rs.) Shares (Rs.) CEYLON LEATHER [W13] (0.20) (33.33) ,185 53, G S FINANCE (28.30) (19.38) , , PDL (8.30) (12.12) , KAHAWATTE (4.50) (12.00) , CIFL (0.10) (11.11) ,400 4, Market Highlights - Sector Wise Sector Price Index Turnover Sector Today Privious Value (Rs) Volume Trades P/E PBV BANK FINANCE AND INSURANCE 13, , ,066,612 3,104, BEVERAGE FOOD AND TOBACCO 20, , ,909, , CONSTRUCTION AND ENGINEERING 2, , ,022, , CHEMICALS AND PHARMACEUTICALS 5, , ,474,532 62, DIVERSIFIED HOLDINGS 1, , ,208, , FOOTWEAR AND TEXTILE , , HOTELS AND TRAVELS 3, , ,539,776 1,754, HEALTH CARE ,157, , INVESTMENT TRUSTS 17, , ,419 57, INFORMATION TECHNOLOGY ,292 81, LAND AND PROPERTY ,377, , MANUFACTURING 2, , ,216,278 5,466, MOTORS 15, , ,058,499 3,398, OIL PALMS 84, , , POWER & ENERGY ,974, , PLANTATIONS ,423,854 90, STORES SUPPLIES 19, , , SERVICES 21, , , , TELECOMMUNICATIONS ,131,849 1,014, TRADING 13, , , ,

4 Exchange Rates Indicative Rates Currency 11th March 10th March 11th Mar 10th Mar Currency Buying Selling Buying Selling Ind: Value Ind: Value Dollar (USA) Yuan (China) Pound (UK) Rupee (India) Euro (EU) Won (Korean) Franc (Sw itzerland) Dinar (Kuw ait) Dollar (Canada) Ringgit (Malay) Dollar (Australia) Rial (Oman) Dollar (Singapore) Riyal (Qatar) Yen (Japan) Riyal (KSA) Dirham (UAE) Central Bank's Policy Rates Standing Deposit Facility (SDF) Standing Lending Facility (SLF) Bank Rate Statutory Reserve Ratio (SRR) Description Rate ( Per Annum) Treasury Bills AWPLR AWDR This week Last week This Week Last week This Month Last Month 91 Days Weekly Monthly Days Monthly Months Days Months Year Colombo Consumers Price Index (CCPI) Year on Year Change Annual Average Change Description December January February December January February SLIBOR & LIBOR Description SLIBOR (11th March) (%) LIBOR - GBP (10th March) (%) LIBOR - USD (10th March) (%) (CBSL.lk, Global-rates.com) Over Night 7 Days 1 M 3 M 6 M 12 M

5 Country Foreign Markets- Index 10-Mar-14 % Change 7-Mar-14 % Change 6-Mar-14 USA Dow Jones Indus. AVG 16, % 16, % 16, USA NASDAQ Composite Index 4, % 4, % 4, Europe Euro Stoxx 50 Pr 3, % 3, % 3, UK FTSE 100 6, % 6, % 6, Japan Nikkei , % 15, % 15, Hong Kong Hang Seng Index 22, % 22, % 22, China CSI 300 Index 2, % 2, % 2, Pakistan Karachi 100 Index 27, % 26, % 26, India BSE Sensex Index 21, % 21, % 21, Singapore Straits Times Index 3, % 3, % 3, Malaysia FTSE Bursa Malaysia EMAS 12, % 12, % 12, Mongolia MSE Top 20 Index 16, % 16, % 16, Bloomberg Rubber Prices - 06 March 2014 World Commodity Prices Grade Price Range (Rs) Commodity 11-Mar Mar-14 7-Mar-14 LC No.1X Brent Crude Oil LC No WTI Crude Oil LC No Gold 1, , , LC No Silver LC No Copper SC (Br) No SC (Br) No SC (Br) No SC (Br) No Flat Bark Month Skim Crepe January 85, , ,575 RS Sheet No February 83, ,968 RS Sheet No March 91, ,208 RS Sheet No April 69,591 80,737 RS Sheet No May 57,506 74,838 June 65,245 90,279 Tea Prices Tourist Arrivals to Sri Lanka July 90, ,016 Elevation Sale No : 9 Sale No : 8 August 79, ,269 Uva High September 71,111 90,339 Western High October 80, ,058 Uva Medium November 109, ,420 Western Medium December 122, ,918 Low Grow n Total 1,005,605 1,274, ,575

6 Sri Lanka rupee hits over 4-month high on remittances The Sri Lankan rupee edged up to a more than four-month high on Tuesday due to higher dollar inflows from inward remittances and as bank sales outpaced importer dollar demand amid no intervention from the central bank. The spot rupee was at /55 per dollar at 0646 GMT, its highest intraday level since Nov. 7 and stronger than its last close of /57. The currency has gained 0.4 percent in the last nine sessions through Tuesday. The rupee has been on a rising trend since Feb. 27 amid weak demand for dollars from importers. The market, however, expects downward pressure due to high imports for the traditional New Year in mid-april and outflows from equities, though the depreciation is expected to be mild as the central bank has strong reserves to defend the rupee. Foreign investors sold a net 5.36 billion rupees worth of stocks in 21 straight sessions through Monday, and sold a net 4.57 billion rupees worth of government securities for the week ended March 5. The rupee has gained about 3.6 percent since it hit a record low of on Aug. 28 last year. It lost 2.5 percent in (reuters.com) Japan says weak demand will dent exports The Bank of Japan (BoJ) says the country's exports have levelled off recently, a reversal of the recovery the central bank saw in February. The BoJ cited disappointing external demand for the change of assessment. However, the central bank is confident of economic expansion at home to help maintain its growth momentum. Companies are pouring more money into their businesses, and factory activities are rising at a slightly faster pace. Recent data showed industrial production had risen by 4% in January, which indicated an increase in factory activities for the second month in a row. (bbc.com) Stocks: Is the market calm here to stay? 'Keep calm and carry on' seems to have become the market mantra over the last few days as investors stay cool despite continued geopolitical risks. Market volatility, as measured by the Vix (VIX) index, has declined by just over 11% in the past five trading days. U.S. stock futures were relatively steady ahead of the opening bell Tuesday morning. The tense situation in Ukraine caused some sharp moves in markets early last week. U.S. stocks closed slightly lower Monday, with the Dow and S&P 500 hovering near all-time highs. The Nasdaq is about 15.5% below its dot-com boom record, thanks to a nearly 40% jump last year and a strong start in But Tuesday sees little scheduled economic and corporate news that could drive markets. (money.cnn)

7 Vice President Business Development Manager - Research Thakshila Hulangamuwa Pasindu Perera thakshi@ashaphillip.net pasindu@ashaphillip.net Research Team Lasantha Senanayake lasantha@ashaphillip.net Nishantha Warnakulasuriya nishantha@ashaphillip.net Head Office: Southern Region (Matara) #24-1/3A, 2 nd Floor, E.H. Cooray Tower, Anagarika Dharmapala Mw, Matara. Tel: Branch Office: Matara #24-1/3A, 1st Floor E.H. Cooray Tower Anagarika Dharmapala Mw, Matara Tel Branch Office: Negombo #72 A 2/1, Old Chilaw Road, Negombo. Tel Branch Office: Gampaha #21,Courts Road, Gampaha. Tel Branch Office: Kiribathgoda Udeshi City Shopping Complex, 2nd Floor, #2/12, Makola Road, Kiribathgoda. Tel Branch Office: Kurunegala #6,1st Floor, Union Assurance Bldg, Rajapihilla Mawatha, Kurunegala. Tel Branch Office: Kandy Ceybank House, # 88, Dalada Vidiya, Kandy. Tel Branch Office: Batticaloa #22 B, Bar Road, Batticaloa, Tel: Branch Office: Jaffna #147 2/3 K.K.S. Road, Jaffna. Tel: Branch Office: Panandura # 190, New Galle Road, Walana, Panandura. Tel: Branch Office: Ambalanthota # 153, Tissa Road, Ambalanthota. Tel: Branch Office: Embilipitiya #62, Sampath Bank Building, Main Street, Embilipitiya. Tel Branch Office: Anuradhapura # 213/7, 2nd Floor, Maithreepala Senanayake Mw, Bank Side, New Town, Anurahapura. Tel Branch Office : Galle #16, Sri Devamittha Mw, Galle. Tel Branch Office: Hambantota # 59A Main Street, Hambantota. Tel: 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.

Market Capitalisation

Market Capitalisation - Index 3rd Mar 28th Feb Change % Change ASPI 5,914.01 5,940.31 (26.30) -0.44% S&P SL20 3,213.89 3,223.66 (9.77) -0.30% Market Statistics Value of Turnover(Rs.) Domestic Purchases Domestic Sales Foreign