Monday, 24 December 2012

Quote for the day

“First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.” - Paul Tudor Jones

LSL - Market Review - 24th Dec 2012

Market review – 24th December 2012

Activity at the CSE was quite dull throughout the day as investors as well as professionals seem to have been caught up in the festivities. Today’s turnover was the lowest in more than five months and the second lowest for the calendar year so far. Bukit Darah continued trade well at Rs. 690 levels which was Rs. 20 above its previous closing price. We can expect this whole week to be one with very low activity.

ASI gained 8.40 points (0.15%) to close at 5,524.89, MPI lost 4.76 points (0.09%) to close at 5,039.82 and the S&P SL20 index gained 4.54 points (0.15%) to close at 3,038.78. Turnover was Rs. 101.3Mn.

Top contributors to turnover were Haycarb with Rs. 17.5, Bukit Darah with Rs. 13.8 and PC House with Rs. 12.2Mn. Most active counters for the day were Madulsima, Softlogic Holdings and Environmental Resource Holdings.

Notable gainers for the day were Tea Small Holders up by 12.9% to close at Rs. 48.00, Free Lanka Capital Holdings up by 4.4% to close at Rs. 2.40 and PC House up by 3.9% to close at Rs. 5.40. Notable losers for the day were Madulsima Plantations down by 6.1% to close at Rs. 15.50, Lanka Orix Finance down by 2.6% to close at Rs. 3.70 and Access Engineering down by 1.7% to close at Rs. 17.70.

Cash map for today was 49.23%. Foreign participation was 10% of total market turnover whilst net foreign inflow was Rs. 4.0Mn.