Tuesday, 26 February 2013

Quote for the day

"A market is the combined behavior of thousands of people responding to information, misinformation and whim." - Kenneth Chang

LSL Market Review 26th Feb 2013

Market started on a negative note as negative developments in the macro-economic front and motions against Sri Lanka at the UNHCR factored in during today’s trading. Most blue-chips lost ground as retail selling also picked up. Private deals on blue-chips helped buoy turnover levels. The market is developing into a buyers’ market whereby opportunities for bargain hunting will arise.

ASI lost 66.13 points (1.15%) to close at 5,669.48 and the S&P SL20 index lost 27.86 points (0.86%) to close at 3,195.42. Turnover was Rs. 714.0Mn.

Top contributors to turnover were John Keells Holdings with Rs. 236.6Mn, Commercial Bank with Rs. 143.9Mn and Nations Trust Bank with Rs. 56.5Mn. Most active counters for the day were Touchwood Investments, AIA Insurance and Commercial Bank.

Notable gainers for the day were AIA Insurance up by 13.9% to close at Rs. 336.00, Piramal Glass up by 1.6% to close at Rs. 6.20 and Citrus Leisure up by 1.6% to close at Rs. 20.60. Notable losers for the day were Orient Garments down by 12.8% to close at Rs. 8.90, Citrus Leisure warrant-19 down by 10.0% to close at Rs. 2.70 and Capital Guardian partners down by 7.5% to close at Rs. 38.50.

Cash map for today was 36.91%. Foreign participation was 40.57% of total market turnover with net foreign inflow of Rs. 361.0Mn.