Wednesday, 6 March 2013

Quote for the day

"Capital comes in two varieties: Mental and that which is in your pocket or account. Of the two types of capital, the mental is the more important and expensive of the two. Holding to losing positions costs measurable sums of actual capital, but it costs immeasurable sums of mental capital." - Denis Gartman

LSL Market Review – 6th March 2013

Indices gained higher helped by advances on low-capped and mid-capped counters which is a reversal from recent patterns. Deals on Hatton National Bank, Cargills and Asia Siyaka Commodities propelled turnover levels. Yields on treasuries advanced in today’s auction which might indicate Monetary Board will hold policy rates at the current rate.

ASI gained 36.59 points (0.65%) to close at 5,663.36 and the S&P SL20 gained 5.94 points (0.19%) to close at 3,214.86. Turnover was Rs. 1,306.1Mn.

Top contributors to turnover were Hatton National Bank with Rs. 616.8Mn, Cargills with Rs. 311.3Mn and Asia Siyaka Commodities with Rs. 93.3Mn. Most active counters for the day were Central Investments & Finance, HVA Foods and Nation Lanka Finance.

Notable gainers for the day were Environmental Resource Investments- warrants up by 38.5% to close at Rs. 1.80, SMB Leasing non-voting up by 25.0% to close at Rs. 0.50 and Selingsing up by 13.3% to close at Rs. 1,099.00. Notable losers for the day were Dockyard down by 4.2% to close at Rs. 217.50, Durdans down by 4.0% to close at Rs. 96.00 and Horana Plantations down by 1.9% to close at Rs. 26.50.

Cash map for today was 51.71%. Foreign participation was 41.62% of total market turnover and net foreign outflow was Rs. 248.5Mn.