Monday 6 May 2013

LSL Market Review 6th May 2013

Change in ownership of Lanka Ceramic was the highlight of the day. The counter gained a maximum 50%. The capital gain of the selling party, CT Holdings amounts to ~Rs. 2.0bn. Royal Ceramic was the buying party to the transaction (76.1% stake of the Lanka Ceramic). The market gained helped by blue chips. John Keells and Nestle led the heaviest gainers list. Retail activity was seen on a mix of blue chips and speculative counters.

ASI gained 107.99 points (1.80%) to close at 6,121.17 and the S&P SL20 index gained 55.13 points (1.62%) to close at 3,461.12. Turnover was Rs. 4.1Bn.

Top contributors to turnover were Lanka Ceramic with Rs. 3.2Bn, Royal Ceramics 65.2Mn and John Keells Holdings with Rs. 42.5Mn. Most active counters for the day were Vallibel One, nation Lanka Finance and Lanka Ceramics.

Notable gainers for the day were Lanka Ceramic up by 50.0% to close at Rs. 120.00, John Keells up by 13.3% to close at Rs. 80.00 and Ceylon cold Stores up by 13.3% to close at Rs. 168.00. Notable losers for the day were Environmental Resource Investments down by 6.7% to close at Rs. 2.80, Beruwala Resorts down by 4.2% to close at Rs. 2.30 and Lanka Orix Finance down by 2.9% to close at Rs. 3.40.

Further, Blue-chip stocks such as Nestle, John Keells, Dialog Axiata, Chevron Lubricants and National Development Bank reached 52week high prices today and supported mainly to the positive performances. All the stocks in S&P SL 20 Index saw price appreciations excluding Hatton National Bank, which drop only by Rs. 0.50.

Foreign participation was minimal compare to the last few days and it accounted for 3% of the total market turnover. At the end of the trading foreign investors were net buyers with net inflow of LKR 28.2mn. Cash map was 82.23% for the day.

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