"Capital comes in two varieties: Mental and that which
is in your pocket or account. Of the two types of capital, the mental is the
more important and expensive of the two. Holding to losing positions costs
measurable sums of actual capital, but it costs immeasurable sums of mental
capital." - Denis Gartman
Wednesday, 6 March 2013
LSL Market Review – 6th March 2013
Indices gained higher helped by advances on low-capped and
mid-capped counters which is a reversal from recent patterns. Deals on Hatton
National Bank, Cargills and Asia Siyaka Commodities propelled turnover levels.
Yields on treasuries advanced in today’s auction which might indicate Monetary
Board will hold policy rates at the current rate.
ASI gained 36.59 points (0.65%) to close at 5,663.36 and the
S&P SL20 gained 5.94 points (0.19%) to close at 3,214.86. Turnover was Rs.
1,306.1Mn.
Top contributors to turnover were Hatton National Bank with
Rs. 616.8Mn, Cargills with Rs. 311.3Mn and Asia Siyaka Commodities with Rs.
93.3Mn. Most active counters for the day were Central Investments &
Finance, HVA Foods and Nation Lanka Finance.
Notable gainers for the day were Environmental Resource
Investments- warrants up by 38.5% to close at Rs. 1.80, SMB Leasing non-voting
up by 25.0% to close at Rs. 0.50 and Selingsing up by 13.3% to close at Rs.
1,099.00. Notable losers for the day were Dockyard down by 4.2% to close at Rs.
217.50, Durdans down by 4.0% to close at Rs. 96.00 and Horana Plantations down
by 1.9% to close at Rs. 26.50.
Cash map for today was 51.71%. Foreign participation was
41.62% of total market turnover and net foreign outflow was Rs. 248.5Mn.
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