Tuesday, 29 January 2013

Quote for the day

“There are no secrets to success: don't waste time looking for them. Success is the result of perfection, hard work, learning from failure, loyalty to those for whom you work, and persistence.” - Colin Powell

LSL Market Review 29th Jan 2013

Retail profit taking persisted today whilst foreign picked up blocks in few blue-chips. A general feeling of retail selling was seen today although this is seen as a correction as foreigners still value our blue-chips whilst reduction in interest rates are also expected in the future. Sampath Bank, LOLC and John Keells Holdings were the top picks for the foreigners today.

ASI dropped 54.24 points (0.93%) to close at 5,800.75 and the S&P SL20 index lost 8.96 points (0.28%) to close at 3,185.76. Turnover was Rs. 1,351.0Mn.

Top contributors to turnover were Sampath Bank with Rs. 428.1Mn, John Keells Holdings with Rs. 391.2Mn and LOLC with Rs. 265.7Mn. Most active counters for the day were Environmental Resource Investments, Sampath Bank and LOLC.

Notable gainers for the day were Tess Agro up by 4.2% to close at Rs. 2.50, CT Holdings up by 3.9% to close at Rs. 145.00 and ODEL up by3.6% to close at Rs. 23.00. Notable losers for the day were Kotagala Plantations down by 11.9% to close at Rs. 57.00, Lanka Aluminum down by 8.1% to close at Rs. 34.00 and Browns Beach Hotel down by 7.7% to close at Rs. 18.00.

Cash map for today was 34.22% which is an improvement from yesterday. Foreign participation was 33.34% of total market turnover whilst net foreign buying was Rs. 830.64Mn.