Monday, 11 March 2013

LSL Market Review 11th Mar 2013

Market opened on a positive note but the main index dropped after mid-day on retail selling. It’s assumed as a result of retail investors taking a cue from recent upward pressure on interest rates. News of Cargills/CT Holdings securing IFC backing for their bank failed to show a marked gain on their prices.

ASI dropped 14.08 points (0.25%) to close at 5,677.31 and the S&P SL20 index gained 6.45 points (0.20%) to close at 3,229.19. Turnover was Rs. 557.0Mn.

Top contributors to turnover were John Keells Holdings with Rs. 135.2Mn, Commercial Bank with Rs. 102.8Mn and Kuruwita Textile with Rs. 47.4Mn. Most active counters for the day were PC House, Nation Lanka Finance and Central Investments & Finance.

Notable gainers for the day were Ceylinco Insurance non-voting up by 5.5% to close at Rs. 327.00, Browns up by 4.4% to close at Rs. 116.00 and Namunukula plantations up by 4.1% to close at Rs. 77.00. Notable losers for the day were Orient Garments down by 7.6% to close at Rs. 8.50, Kotagala Plantations down by 7.2% to close at Rs. 50.00 and Central Investments & Finance down by 6.5% to close at Rs. 2.90.

Cash map for today was 57.58%. Foreign participation was 27.11% of total market turnover whilst net foreign buying was Rs. 45.01Mn.

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