Friday, 28 December 2012

LSL - Market Review - 28th Dec 2012


John Keells Holdings dominated proceedings at the CSE today (Friday) whilst gains on Ceylon Tobacco Company, Hatton National Bank and National Development bank helped to bolster the indices.  Institutional and high net-worth activity was seen on counters such as Browns Investments and Sampath Bank. Today saw one of the least amounts of losers for this calendar year indicating high spirits in the market.

ASI gained 36.22 points (0.65%) to close at 5,607.13, MPI gained 59.34 points (1.17%) to close at 5,120.17 and the S&P SL20 index gained 8.62 points (0.28%) to close at 3,068.99. Turnover was Rs. 930.6Mn.

Top contributors to turnover were John Keells Holdings with Rs. 527.3Mn, Browns Investments with Rs. 107.4Mn and Sampath Bank with Rs. 91.6Mn. Most active counters were Nation Lanka Finance, HVA Foods and Citrus Leisure warrants 19.

Notable gainers for the day were Mullers up by 12.5% to close at Rs. 1.80, Citrus Leisure up by 12.2% to close at Rs. 27.70 and Tess Agro up by 8.7% to close at Rs. 2.50. Notable losers for the day were Sierra Cables down by 4.0% to close at Rs. 2.40, Asiya Siyaka Commodities down by 2.0% to close at Rs. 5.00 and Commercial Credit down  by 1.8% to close at Rs. 16.00.

Cash map for today (excl crossings) was 51.85%. Foreign participation was 35% of total market turnover whilst net foreign inflow was Rs. 620Mn.


Quote for the day


"Whenever we get a period of poor performance, most investors conclude something must be fixed. They ask if the markets have changed. But trend following presupposes change." - John W. Henry