Quote for the day

"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
-  Winston Churchill

LSL Market Review 04th Mar 2013

Mid-capped and low-capped counters led the losers today although encouraging activity was seen Commercial Bank and Sampath Bank. Foreigners were net buyers in banking counters. Ceylon Tobacco Company was on the losers list today as well. We continue to reiterate that this sluggish period is an opportune period for collecting shares at bargain prices.

ASI slipped 20.80 points (0.37%) to close at 5,631.89 and the S&P SL20 index lost 3.07 points (0.10%) to close at 3,203.78. Turnover was Rs. 1,076.2Mn.

Top contributors to turnover were Commercial Bank with Rs. 557.0Mn, Sampath Bank with Rs. 312.9Mn and National Development Bank with Rs. 49.6Mn. Most active counters for the day were Commercial Bank, National Development Bank and Touchwood Investments.

Notable gainers for the day were Lighthouse Hotel up by 10.6% to close at Rs. 47.00, Commercial Leasing & Finance up by 7.7% to close at Rs. 4.20 and Amana Takaful up by 6.7% to close at Rs. 1.60. Notable losers for the day were Laxapana down by 3.9% to close at Rs. 4.90, Durdans down by 3.8% to close at Rs. 100.00 and Citrus Leisure down by 3.6% to close at Rs. 19.00.

Cash map for today was 54.28% led by solid buying on banking counters. Foreign participation was 41.56% of total market turnover whilst net foreign buying was Rs. 858.31Mn.