Wednesday, 20 March 2013

Quote for the day

“Commitment, perseverance, and discipline are the characteristics that move people beyond desire to action, that differentiate mediocrity from greatness, and that separate greatness from super stardom.” - Doug Hirschhorn,

LSL Market Review 20th Mar 2013

Investors continued to favor Financial Services counters, including leading banks and small cap insurer, Janashakthi and Blue-chip John Keells Holdings in today’s trading session and respective sectors represented 86% of the total market turnover and 57% of the aggregate trading volume. Janashakthi Insurance turned out to be the heavily traded stock amid the most awaited dividend announcement of LKR 1.00 per share with 8% dividend yield and 45% dividend payout. John Keells Holdings and Seylan Bank non-voting were the next best traded stocks and reached 52 week high of LKR 249.70 and LKR 37.50 during the day while recording several off-the floor deals at LKR 250.00 and LKR 36.30 per share respectively.

All Share Index gained 11.96 index points (+0.21%) to close at 5,734.82 and S&P SL 20 Index advanced by 15.77 points (+0.48%) to close at 3,299.56. Market turnover was LKR 539.7mn.
Top contributors to the turnover were John Keells Holdings (LKR 211.9mn), Seylan Bank non-voting (LKR 81.4mn) and National Development Bank (LKR 23.1mn).
Among the top gainers were Kotagala Plantations – rights (up by LKR 2.00, +40%), SMB Leasing (up by LKR 0.10, +33%). On the other hand, Asiri Surgical Hospitals traded excluding dividend today and lost LKR 1.60 (+14%) to close at LKR 9.80.
Foreigners were net buyers (LKR 210mn) for the tenth consecutive day and contributed 24% of the market activity. Cash map for the day was 59.5%.