Tuesday 21 May 2013

Asian Wealth Research Daily Market Review 20th May 2013


The All Share Price Index gained 86.0 points to close at 6,466.7 (1.3%) while the S&P SL20 Index rose 60.1 points to close at 3,649.4 (1.7%).

Total turnover for the day stood at LKR1,282.7 mn (USD10,160.0 k) vs. 12-months average daily turnover of LKR921.0 mn (USD7,294.7 k), whilst the volume traded for the day was 44,033 k against the 12-month average daily volume of 40,852 k.

Top contributory counters towards the turnover for the day were, Commercial Bank LKR244.6 mn (USD1,937.6 k, 2.4%), John Keells Holdings LKR159.1 mn (USD1,260.2 k, 4.6%), Royal Ceramics Lanka LKR139.0 mn (USD1,101.2 k, -0.8%), Overseas Realty LKR37.8 mn (USD299.6 k, 5.0%) and Sampath Bank LKR28.6 mn (USD226.5 k, -0.9%).

The CSE continued its upward trend unabated with both the ASI and the S&PSL20 index closing up in the green. Commercial Bank was the top contributor towards the day’s turnover on the back of number of large transactions which took place on the counter. 

A total of 4 crossings amounting to approx. 1.3 mn shares of Commercial Bank changed hands at a price of LKR122. In addition, two crossings were witnessed in Royal Ceramics Lanka, where 500 k shares changed hands at a price at LKR109. 

John Keells Holdings continued to witness strong institutional and retail interest and benefitted from a price appreciation of 4.6% by the end of the day’s trading. The counter also reached an all time high of LKR298.50 over the course of the day. 

Further, Overseas Realty, and Sampath Bank were amongst the top turnover contributing counters for the day, with Overseas Realty benefitting from a price appreciation of 5% to end the day at LKR18.80. 

With respect to retail interest for the day, activity was witnessed in counters such as Overseas Realty, Seylan Developments and Colombo Fort Land & Building.

Foreign purchases amounted to LKR350.9 mn (USD2,779.4 k), whilst foreign sales amounted to LKR62.5 mn (USD495.3 k). This resulted in a net foreign inflow of LKR 288.4 mn being recorded at the end of the day’s trading.

Market capitalization stood at LKR 2,483.2 bn. YTD performance is 14.6%.

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