Wednesday 20 March 2013

LSL Market Review 20th Mar 2013

Investors continued to favor Financial Services counters, including leading banks and small cap insurer, Janashakthi and Blue-chip John Keells Holdings in today’s trading session and respective sectors represented 86% of the total market turnover and 57% of the aggregate trading volume. Janashakthi Insurance turned out to be the heavily traded stock amid the most awaited dividend announcement of LKR 1.00 per share with 8% dividend yield and 45% dividend payout. John Keells Holdings and Seylan Bank non-voting were the next best traded stocks and reached 52 week high of LKR 249.70 and LKR 37.50 during the day while recording several off-the floor deals at LKR 250.00 and LKR 36.30 per share respectively.

All Share Index gained 11.96 index points (+0.21%) to close at 5,734.82 and S&P SL 20 Index advanced by 15.77 points (+0.48%) to close at 3,299.56. Market turnover was LKR 539.7mn.
Top contributors to the turnover were John Keells Holdings (LKR 211.9mn), Seylan Bank non-voting (LKR 81.4mn) and National Development Bank (LKR 23.1mn).
Among the top gainers were Kotagala Plantations – rights (up by LKR 2.00, +40%), SMB Leasing (up by LKR 0.10, +33%). On the other hand, Asiri Surgical Hospitals traded excluding dividend today and lost LKR 1.60 (+14%) to close at LKR 9.80.
Foreigners were net buyers (LKR 210mn) for the tenth consecutive day and contributed 24% of the market activity. Cash map for the day was 59.5%.

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