Investors hit a pause ahead of the uncertainty within the local and global environments, whilst resulting in weak turnovers and volumes

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1 - Index 17th Mar 14th Mar Change % Change ASPI 5, , % S&P SL20 3, , % Market Statistics Value of Turnover(Rs.) Domestic Purchases Domestic Sales Foreign Purchases Foreign Sales Volume of Turnover (No.) PER PBV 7,000 6,000 5,000 4,000 3,000 2,000 1, Rs.Mn 0 Sch th Mar 14th Mar 91,187, ,769,366 84,771, ,596,868 79,884, ,313,627 6,416, ,172,498 11,303, ,455,739 4,610,817 15,411, , , , , , , , , , , th Mar 12th Mar 13th Mar 14th Mar 17th Mar ASPI S&P SL20 11th Mar 12th Mar 13th Mar 14th Mar 17th Mar Turnover Foreign Purchases Volume Volume Mn Investors hit a pause ahead of the uncertainty within the local and global environments, whilst resulting in weak turnovers and volumes The bourse managed to close the first trading day of the week with a modest gain, despite the poor turnovers and volumes been logged within the day mainly due to the wait and see approach by the investors, ahead of a likely resolution against Sri Lanka coupled with the global market volatilities caused due to the tensions over the western nations & Russia (over the Ukraine crisis) and a further possible reduction in its monthly bond purchases at the 2 day policy meeting of the US Federal reserve, ending Wednesday. The turnover for the day amounted to record LKR 91.19Mn, the lowest recorded so far for the year 2014 and the daily traded quantity was below 5.0Mn shares. The benchmark ASPI close at 5, gaining points and the S&P SL 20 too closed within the green space at 3, charting a gain of 6.31 points or 0.20%. As at the day end, the total market capitalization amounted to LKR 2.47Tn, with a year to date gain to 0.44%. The market PER and PBV were 15.75x and 1.93x respectively. Colombo Land & Development Company PLC (CLND) climbed up to the top position under the turnover list providing LKR 8.90Mn, while accounting to almost 10% of the daily aggregated turnover. Having traded between a highest traded price of LKR 35.0/- and a low of LKR 34.10/-, CLND settled the day at its highest price reached, with no change to its share price. Bairaha Farms PLC (BFL) provided LKR 6.50Mn to the daily turnover while securing the second place, having witnessed substantial retailer interest within the day s trading, where 68 trades resulted in a quantity of 46K shares been dealt at prices ranging from LKR /- and LKR /-. BFL closed the day at LKR 142.0/- (up by LKR 0.40/- or 0.28%).

2 Access Engineering PLC added LKR 4.6Mn to the daily turnover and closed the day at LKR 22/- dropping by LKR 0.10/- or 0.45%. Further on, the top three contributors for the day CLND, BFL & AEL contributed close to 25.0% of the daily aggregated turnover. Under the sectorial summary, Bank Finance & Insurance (BFI) sector provided LKR 24.15Mn dominating the list while accounting to 26.48% of the total turnover and Beverage Food & Tobacco added LKR 11.56Mn to this. The daily traded volume amounted to 4.61Mn shares, indicating a drop of 70.08% against the previous trading day. The main contributors to the volume were Colombo Land & Development Company PLC, Swarnamahal Financial Services PLC & Asiri Hospital Holdings PLC with 261K, 233K & 232K shares respectively being traded. With regard to share price movement, 76 companies lost while 60 companies gained; George Steuart Finance PLC (12.27%) headed the gainers, on the contrary, Ceylon Leather Products PLC W13 (-20.00%) led the price losers. Foreign participants appeared to be bearish for the 2 nd consecutive trading day resulting in a net foreign outflow of LKR 4.9Mn; foreign sales for the day were 11.30Mn and purchases amounted to LKR 6.42Mn. Currently the YTD ne foreign outflow stands at LKR 3.82Bn. The local FOREX market for the day closed with, the USD selling at LKR /- and buying at LKR /-. Market Capitalisation Company Name Price Issued Qty Mkt Capitalization As a % (Total) JOHN KEELLS HOLDINGS PLC ,240, ,971,478, CEYLON TOBACCO COMPANY PLC 1, ,323, ,802,601, NESTLE LANKA PLC 1, ,725, ,940,534, COMMERCIAL BANK OF CEYLON PLC ,872,291 91,012,877, SRI LANKA TELECOM PLC ,804,860,000 79,413,840, 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 59,850,000, THE BUKIT DARAH PLC ,000,000 56,212,200, HATTON NATIONAL BANK PLC ,681,167 48,751,377, Highest Volume Highest Turnover Company Name Share Turnover (Rs) Company Name Trade Share Turnover (Rs) Vol. Vol. Vol. COLOMBO LAND & DEVELOPMENT COMPANY PLC 261,001 8,901, COLOMBO LAND & DEVELOPMENT COMPANY PLC ,001 8,901, SWARNAMAHAL FINANCIAL SERVICES PLC 232, , BAIRAHA FARMS PLC 68 45,764 6,496, ASIRI HOSPITAL HOLDINGS PLC 232,297 4,413, ACCESS ENGINEERING PLC ,105 4,644, AMANA TAKAFUL PLC 222, , ASIRI HOSPITAL HOLDINGS PLC ,297 4,413, ACCESS ENGINEERING PLC 211,105 4,644, NATIONAL DEVELOPMENT BANK PLC 28 17,567 3,162, VALLIBEL POWER ERATHNA PLC 200,097 1,100, LANKA IOC PLC 31 62,325 2,375, TAPROBANE HOLDINGS PLC 175, , THE BUKIT DARAH PLC 8 4,009 2,204, MULLER AND PHIPPS (CEYLON) PLC 139, , CEYLON GRAIN ELEVATORS PLC 80 55,732 2,073, SMB LEASING PLC (X) 138,609 55, CEYLINCO INSURANCE PLC (X) 8 4,059 1,797, ASIRI SURGICAL HOSPITAL PLC 123,800 1,715, COMMERCIAL BANK OF CEYLON PLC 19 15,616 1,786,711.90

3 Top Gainers Company Name VWA Prev VWA Days Change Change High Low No. of Turnover Close Close (Rs.) % (Rs.) (Rs.) Shares (Rs.) G S FINANCE , DURDANS [X] , , N D B CAPITAL TESS AGRO ,217 6, NUWARA ELIYA 1, , , , , 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] (0.10) (20.00) ,710 15, TAPROBANE (0.30) (10.71) , , PC PHARMA (0.10) (10.00) ,100 8, CFI (7.90) (8.36) , S M B LEASING (0.10) (8.33) ,040 46, Market Highlights - Sector Wise Sector Price Index Turnover Sector Today Privious Value (Rs) Volume Trades P/E PBV BANK FINANCE AND INSURANCE 13, , ,149,058 1,208, BEVERAGE FOOD AND TOBACCO 19, , ,563, , CONSTRUCTION AND ENGINEERING 2, , ,689, , CHEMICALS AND PHARMACEUTICALS 5, , , , DIVERSIFIED HOLDINGS 1, , ,430, , FOOTWEAR AND TEXTILE ,270 38, HOTELS AND TRAVELS 3, , ,408, , HEALTH CARE ,269, , INVESTMENT TRUSTS 17, , ,354,982 61, INFORMATION TECHNOLOGY ,982 52, LAND AND PROPERTY ,354, , MANUFACTURING 2, , ,423, , MOTORS 15, , ,325 3, OIL PALMS 86, , ,204,997 4, POWER & ENERGY ,382, , PLANTATIONS ,212 43, STORES SUPPLIES 18, , , SERVICES 21, , ,200 20, TELECOMMUNICATIONS ,375,791 42, TRADING 13, , ,554 24,

4 Exchange Rates Indicative Rates Currency 17th March 14th March 17th Mar 14th 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 (17th March) (%) LIBOR - GBP (14th March) (%) LIBOR - USD (14th March) (%) (CBSL.lk, Global-rates.com) Over Night 7 Days 1 M 3 M 6 M 12 M

5 Country Foreign Markets- Index 14-Mar-14 % Change 13-Mar-14 % Change 12-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 , % 14, % 14, Hong Kong Hang Seng Index 21, % 21, % 21, China CSI 300 Index 2, % 2, % 2, Pakistan Karachi 100 Index 27, % 27, % 27, 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 - 13 March 2014 World Commodity Prices Grade Price Range (Rs) Commodity 17-Mar Mar 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 nom SC (Br) No Skim Crepe Month RS Sheet No January 85, , ,575 RS Sheet No February 83, , ,878 RS Sheet No March 91, ,208 April 69,591 80,737 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, ,453

6 Sri Lanka rupee up on dollar sales The Sri Lankan rupee edged up on Monday as a private bank sold dollars obtained from selling gold. Contrary to market expectations, the local currency has been gaining ahead of the traditional New Year in April. Usually, the rupee falls in March and early April due to higher import demand ahead of the Sinhala-Tamil New Year. However, dealers said they are yet to see higher import demand. The spot rupee strengthened to /62 per dollar at 0612 GMT, firmer from Friday's close of /65. On Thursday it hit its weakest close since Feb. 28 of /75. (brecorder.com) All eyes on Ukraine and the Fed Investors will be keeping a close tab on Ukraine and China this week before turning their attention to the Federal Reserve. Turmoil in Ukraine over the Crimean referendum could lead to more volatility in the markets. Preliminary results showed the region voted overwhelmingly on Sunday to join Russia. The situation is causing growing tensions between the West and Moscow. The threat of sanctions and other action from the West against Russia means the crisis could further rattle investors as they worry about potential trade and energy disruptions. Russia has paid a heavy price for the standoff so far. Its stock market and currency both tumbled since the unrest began. But it's not clear if Russia will back down. (money.cnn) EU meets to punish Russia over Crimea European Union foreign ministers gathered in Brussels to discuss sanctions on Russia that could be revealed as early as Monday. Western nations are looking to strike back against Russia for meddling in Ukraine and its southern region of Crimea. Final results from a referendum in Crimea Sunday showed nearly 97% of those who voted backed plans to join Russia. The result was expected -- and the West maintained the referendum was illegal. Moscow strongly backed the vote. President Obama called Russian President Vladimir Putin Sunday and said the vote "would never be recognized by the United States and the international community," according to the White House. (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.