Thursday 11 April 2013

LSL Market Review – 11th Apr 2013

Retail investor driven activity picked up today whilst institutional activity was seen on mainly banking and financials. Sound investor participation ahead of the festive season is a promising indication of improving sentiment in the CSE. Foreign interest was seen on Hatton National Bank. Foreign interest on blue-chips during the past few months could be held as the main reason for the current revival in the condition of the market. However, retail participation continues at discrete levels.

ASI gained 19.07 points (0.33%) to close at 5,813.37 and the S&P SL20 index gained 6.93 points (0.21%) to close at 3,329.42. Turnover was Rs. 940.5Mn.

Top contributors to turnover were Hatton National Bank with Rs. 462.9Mn, Commercial Bank with Rs. 103.7Mn and Dialog with Rs. 58.4Mn. Most active counters for the day were Union Bank, Free Lanka Capital Holdings and Nation Lanka Finance.

Notable gainers for the day were SMB Leasing non-voting up by 33.3% to close at Rs. 0.40, Renuka Shaw Wallace up by 15.4% to close at Rs. 21.00 and Ceylon Tea Brokers up by 10.0% to close at Rs. 5.50. Notable losers for the day were Kotagala Plantations down by 6.6% to close at Rs. 54.80, Balangoda Plantations down by 2.5% to close at Rs. 34.60 and Kegalle Plantations down by 2.3% to close at Rs. 117.00.

Cash map for today was 38.2%. Foreign participation was 38.8% of total market turnover whilst net foreign buying was Rs. 479.5Mn.

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