LSL - Market Review – 18th Dec 2012

A major deal on Asiri Central and few blue-chips helped to bolster activity after a relatively slow start. Indices managed to close in positive ground helped by gains on blue-chips such as Commercial Bank. It is worthwhile noting that John Keells Holdings is trading approximately at around the same price levels as it did during the peak of the All Share Price Index in February 2011. Conversely, the ASI has lost approximately 2,300 points to date since the peak.

ASI gained 4.28 points (0.08%) to close at 5,507.79, MPI gained 27.40 points (0.55%) to close at 5,039.62 and the S&P SL20 index gained 10.18 points (0.34%) to close at 3,019.62.Turnover was Rs. 2,587.6Mn.

Top contributors to turnover were Asiri Central with Rs. 1,825.8Mn, Commercial Bank with Rs. 186.9Mn and John Keells Holdings with Rs. 155.3Mn. Most active counters for the day were Access Engineering, Sampath Bank and HVA Foods.

Notable gainers for the day were Access Engineering up by 8.2% to close at Rs. 18.40, Hydro Power Free Lanka up by 2.9% to close at Rs. 7.00 and Pan Asia Bank up by 2.7% to close at Rs. 19.00. Notable losers for the day were Hemas Power down by 4.8% to close at Rs. 20.00, Asian Hotels & Properties down by 3.5% to close at Rs. 75.00 and Lanka IOC down by 3.4% to close at Rs. 20.00.

Cash map for today was 90.24%but stood at 50.64% excluding the crossings. Foreign participation was 15.7% of total market turnover whilst net foreign buying was Rs. 140Mn.

Quote for the day

“The market does not beat them.  They beat themselves, because though they have brains they cannot sit tight.”  - Jesse Livermore

LSL - Market Review – 17th Dec 2012

Market opened on a positive today on very low activity. Today’s turnover was dominated by private deals which contributed almost 62%. Indices closed in negative territory as losses on many blue-chips didn’t help the cause. Retail participation was subdued ahead of the seasonal spending period.

ASI dropped 19.21 points (0.35%) to close at 5,503.51, MPI lost 33.30 points (0.66%) to close at 5,011.90 and the S&P SL20 index declined 13.35 points (0.44%) to close at 3,009.44. Turnover for today was Rs. 532.9Mn.

Top contributors to turnover were Environmental Resource Investments with Rs. 203.1Mn, Chevron Lubricants with Rs. 109.2Mn and Commercial Bank with Rs. 77.8Mn. Most active counters for the day were Free Lanka Capital Holdings, CIC Holdings and Chevron Lubricants.

Notable gainers for the day were Namunukula Plantations up by 12.2% to close at Rs. 79.80, Blue Diamonds non-voting up by 5.9% to close at Rs. 1.80 and Seylan Bank up by 2.5% to close at Rs. 57.00. Notable losers for the day were Softlogic Finance down by 6.6% to close at Rs. 24.00, Hemas Holdings down by 3.7% to close at Rs. 26.00 and E-Channeling down by 3.5% to close at Rs. 5.50.

Cash map for today (excl crossings) was 53%. Foreign participation was 65% of total market turnover whilst net foreign buying was Rs. 102Mn.