Thursday, 14 March 2013

LSL Market Review – 14th March 2013

A late surge in blue-chips helped to recover from mid-day losses. John Keells Holdings and National Development Bank continued to improve their 52-week highs to Rs. 239.00 and Rs. 158.50 respectively. Few blue-chips are trading beyond their intrinsic values therefore we advise investors not to get into the herd instinct but stick to value investing.

ASI gained 3.16 points (0.06%) to close at 5,688.98 and the S&P SL20 index gained 5.79 points (0.18%) to close at 3,241.03. Turnover was Rs. 609.2Mn.

Top contributors to turnover were John Keells Holdings with Rs. 169.0Mn, Sampath Bank with Rs. 106.2Mn and Odel with Rs. 46.1Mn. Most active counters for the day were PC House, Central Investments & Finance and Free Lanka Capital Holdings.

Notable gainers for the day were Talawakelle plantations up 10.0% to close at Rs. 26.50, Blue Diamonds non-voting up by 6.7% to close at Rs. 1.60 and LOLC up by 5.5% to close at Rs. 58.00. Notable losers for the day were Environmental Resource Investments down by 13.3% to close at Rs. 1.30, Vallibel Power down by 7.1% to close at Rs. 5.20 and Central Investments & Finance down by 6.7% to close at Rs. 2.80.

Cash map for today was 55.55%. Foreign participation was 39.0% of total market turnover whilst net foreign buying was Rs. 261.2Mn.

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