"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Philip Fisher
Monday, 25 March 2013
LSL Market Review 25th Mar 2013
Indices dropped on profit taking on retail heavy counters. National Development Bank declared a final dividend of Rs. 10.00 but its share price didn’t show a marked improvement as the current market price had already factored-in its fair value. The share price of Ceylon Tobacco saw a drop during late trading. Yields on treasuries rose in today’s auction which could also contributed to the negative sentiment.
ASI dipped 23.33 points (0.40%) to close at 5,745.55 and the S&P SL20 index lost 16.30 points (0.49%) to close at 3,296.41. Turnover was Rs. 353.4Mn
Top contributors to turnover were Sampath Bank with Rs. 76.4Mn, Asian Hotels & Properties with Rs. 52.6Mn and National Development Bank with Rs. 42.5Mn. Most active counters for the day were National Development Bank, Nation Lanka Finance and Ceylon Grain Elevators.
Notable gainers for the day were Kotagala plantations-rights up by 33.3% to close at Rs. 8.00, Mahaweli Reach Hotel up by 7.7% to close at Rs. 21.00 and Ceylon Grain Elevators up by 6.5% to close at Rs. 50.60. Notable losers for the day were Citrus Leisure- warrant 19 down by 3.9% to close at Rs. 2.50, Browns Investments down by 2.9% to close at Rs. 3.30 and Asiri Surgical down by 2.1% to close at Rs. 9.40.
Cash map for today was 60.21%. Foreign participation was 15.34% of total market turnover whilst net foreign buying was Rs. 101.61Mn.
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