Monday, 27 May 2013

Quote for the day

“Discipline is doing what you are supposed to do in the best possible manner at the time you are supposed to do it.” - Mike Krzyzewski

LSL Market Review 27th May 2013

Colombo Stock Exchange market capitalization depreciated by 1% due to profit taking embarked by investors after a two-day consecutive growth. ASI dropped by 42.31 index points (0.65%) to close at 6,446.54 and S&P SL 20 Index lost 24.13 points to close at 3,641.91. Price depreciation in index heavy counters such as Dialog Axiata by LKR 0.40, Nestle by LKR 21.50 and John Keells Holdings by LKR 4.80 contributed negatively to the market performances.

Market turnover was LKR 697mn. John Keells Holdings with LKR 92.9mn, Environmental Resources Investments with 75.1mn and Overseas Reality with LKR 63.9mn were the top contributors to the market turnover.

Investor interest was rally around Laugfs Gas voting and non-voting shares amid the expected dividend which the company may pay out according to the company’s dividend history. Further Overseas Reality, Chevron Lubricants and Ceylinco Seylan Development were among heavily traded stocks during the day.

Foreign participation was relative low and it calculated for 14.8% of the total market activity. However at the end of the day foreign investors were net buyers with net inflow of LKR 113mn. Cash map closed at 34%, the lowest recorded during last five trading days.