Thursday, 28 February 2013

Quote for the day

 “Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.” -  Larry Hite

LSL Market Review 28th Feb 2013

Losses on Ceylon Tobacco Company and John Keells Holdings saw indices driven lower. Leisure conglomerate Aitken Spence saw almost 6.5m shares trade on the normal board contributing more than 50% of today’s turnover. Earlier Commercial Bank and Sampath Bank had reported exceptional 4th quarter results.

ASI lost 38.57 points (0.68%) to close at 5,635.90 and the S&P SL20 index lost 16.43 points (0.51%) to close at 3,194.39. Turnover was Rs. 1,430.6Mn.
Top contributors to turnover were Aitken Spence with Rs. 770.6Mn, DFCC with Rs. 184.6Mn and John Keells Holdings with Rs. 60.5Mn. Most active counters for the day were Central Investments & Finance, Commercial Bank and Touchwood Investments.

Notable gainers for the day were Asiri Surgical up by 5.6% to close at Rs. 9.40, Ceylon Cold Stores up by 5.3% to close at Rs. 134.00 and Sunshine Holdings up by 4.2% to close at Rs. 27.50. Notable losers for the day were Ceylinco Insurance non-voting down by 10.3% to close at Rs. 280.00, The Finance down by 10.0% to close at Rs. 12.60 and Renuka Holdings down by 6.6% to close at Rs. 32.50.

Cash map for today was 81.92%. Foreign participation was 75.4% of total market turnover whilst net foreign selling was Rs. 20.7Mn.