Thursday, 7 February 2013

Quote for the day

"Wall Street is one big turf war, by benefiting one person you are disadvantaging another person." - Bernard Madoff  

LSL Market Review 07th Feb 2013

Market rallied on the back of institutional buying on blue-chips. Banking & financials again contributed immensely in terms of gains on the broader index and almost 55% of turnover. Sampath Bank was the highest gainer in the mentioned sector with the counter also witnessing retail activity.

Sampath Bank, Ceylon Cold Stores, E-Channeling and Dipped Products reached their 52 week highs today.

ASI gained 30.33 points (0.52%) to close at 5,810.42 and the S&P SL20 index gained 26.31 points (0.82%) to close at 3,273.70. Turnover was Rs. 1,534.3Mn.

Top contributors to turnover were Hatton National bank with Rs. 292.5Mn, John Keells Holdings with Rs. 277.9 and Sampath Bank with Rs. 199.1Mn. Most active counters for the day were Sampath Bank, Commercial and E-Channeling.

Notable gainers for the day were Dunamis Capital up by 13.6% to close at Rs. 12.50, Parquet up by 11.7% to close at Rs. 16.20 and Dipped Products up by 5.7% to close at Rs. 112.00. Notable losers for the day were Citizens

Development Bank down by 2.5% to close at Rs. 42.90, Tokyo Cement non-voting down by 1.6% to close at Rs. 18.50 and Union Bank down by 1.3% to close at Rs. 15.40.

Cash map was 48.72% which is significantly better than yesterday. Foreign participation was 63% of total market turnover whilst net foreign buying was Rs.160 Mn.