Wednesday, 9 January 2013

LSL Market Review 09th Jan 2013

Profit taking on many blue-chips during late trading caused the indices to lose marginally. The Relative Strength Index was at an overbought situation as at yesterday. However yields on treasury bills fell further in today’s auction which will help to improve the condition of the stock market.

Private deals on Asiri Hospitals and related parties transacted as well whilst a Dialog saw selling pressure towards the close of trading.

ASI dropped 6.83 points (0.12%) to close at 5,745.10 and the S & P SL20 index lost 3.10 points (0.10%) to close at 2,120.87. The turnover was Rs. 497.2Mn

Top contributors to turnover were Dialog Axiata with Rs. 111.0Mn, Asiri Hospitals Holdings with Rs. 52.7Mn and Ceylon Theatres with Rs. 34.3Mn. Most active counters for the day were LOLC, Dialog Axiata and Laufgs Gas non-voting.

Notable gainers for the day were Odel up by 7.8% to close at Rs. 22.00, Laufgs Gas up by 3.4% to close at Rs. 27.80 and Distilleries up by 2.9% to close at Rs. 170.00. Notable losers for the day were Touchwood Investments down by 3.2% to close at Rs. 9.00, HVA Foods down by 2.2% to close at Rs. 13.30 and Nation Lanka finance down by 1.9% to close at Rs. 10.40.

Cash Map for today was 23.3% which was adversely impacted by the sell down in Dialog Axiata. Foreign participation was 31% of the market turnover whilst net foreign selling was Rs. 31Mn.

Quote for the day

“You can never predict when that unknown torpedo will come out of the dark and smash the price of a stock.”  - Ralph Seger