Tuesday, 28 May 2013

Quote for the day

"Mistakes are okay; they are our stepping stones of progress. If we are not failing from time to time, we are not trying hard enough and we are not learning. We have to take risks, stumble, fall, and then get up and try again. Appreciate that we are pushing our self, learning, growing and improving. One of the mistakes we fear might just be the link to our greatest achievement yet !!" - Glen Rambharack

LSL Market Review 28 May 2013

Market closed in red for the second consecutive day as investors booked profits after recent gains. ASI lost 11.84 points and closed at 6,434.70 while S&P SL 20 Index lost 14.95 poits and closed at LKR 3,626.96. Price depreciation in index heavy stocks such as Bukith Darah by LKR 13.90, Carsons by LKR 2.50 and Commercial Bank by LKR 1.00 contributed negatively to the market performance.

Market turnover was LKR 553mn. Environmental Resources Investments with LKR 65.9mn, John Keells Holdings with LKR 61.3mn and Colombo Land & Development with LKR 42.5mn topped the turnover list today. No crossings were recorded during the day.

Heavy retail participation was seen in MTD Walkers and it ended as the mostly traded stock (up LKR 4.30, +16%). Further, Central Investment & Finance, Overseas Reality and Morisons non-voting were among the heavily traded stocks.

Cash map improved to 52.3% from the yesterday figure of 33.7%.

Foreign participation was 12.7% and at the end of the day foreign investor was net buyers with a net inflow of LKR 75mn.