Monday, 8 April 2013
LSL Market Review – 8th Apr 2013
Union Bank gathered further steam led retail investors. The bullish trend on Union Bank seemed to have rubbed off on other mid-capped counters such as Colombo Land and Vallibel One. Meanwhile Kegalle Plantations saw a private deal taking place on the normal board. Normally, a sluggish period is seen with minimal activity in the past during the upcoming festivities. But there seems to be a clear reversal this year.
ASI gained 11.44 points (0.2%) to close at 5,777.38 and the S&P SL20 index gained 9.28 points (0.28%) to close at 3,321.81. Turnover was Rs. 398.0Mn.
Top contributors to turnover were Union Bank with Rs. 63.6Mn, Kegalle Plantations with Rs. 44.2Mn and Carson Cumberbatch with Rs. 35.6Mn. Most active counters for the day were Union Bank, Vallibel One and Colombo Land & Development.
Notable gainers for the day were Colombo Land & Development up by 13.6% to close at Rs. 35.90, Citrus Hikkaduwa up by 13.0% to close at Rs. 6.10 and Browns Beach Hotel up by 11.1% to close at Rs. 19.00. Notable
losers for the day were Merchant Bank of Sri Lanka down by 5.1% to close at Rs. 18.70, Pegasus Reef Hotel down by 5.0% to close at Rs. 38.00 and Kelani Valley Plantations down by 4.6% to close at Rs. 80.10.
Cash map for today was 41.43%. Foreign participation was 8.5% of total market turnover with net foreign inflow of Rs. 34.87Mn.