“Speculation is dealing with the uncertain conditions of the unknown future. Every human action is a speculation in that it is embedded in the flux of time.”- Ludwig von Mises
Tuesday, 30 April 2013
LSL Market Review 30th Apr 2013
Indices trended in and out of the red zone but retail selling forced the main index to falter. High dividend yielding blue-chips were seen trading above their previous closing prices. Treasury yields fell in today’s auction which might indicate that policy rates will see a drop in the next months’ review. Few blue-chips extended their 52-week gains which portrays a healthy market.
ASI fell 14.43 points (0.24%) to close at 5,953.19 and the S&P SL20 index gained points 2.65 (0.08%) to close at 3,365.79. Turnover was Rs. 876.3Mn.
Top contributors to turnover were Colombo Land & Development with Rs. 260.9Mn, Commercial bank with Rs. 117.9Mn and National Development Bank with Rs. 72.3Mn. Most active counters were Colombo Land & Development, Touchwood Investments and Lanka IOC.
Notable gainers for the day were Abans Financial Services up by 20.8% to close at Rs. 34.80, Lanka IOC up by 12.1% to close at Rs. 25.00 and Blue Diamonds non-voting up by 6.3% to close at Rs. 1.70. Notable losers for the day were Ceylon Leather Products down by 6.0% to close at Rs. 4.70, Citrus Waskaduwa down by 5.7% to close at Rs. 6.60 and Ceylon tea Brokers down by 5.7% to close at Rs. 5.00.
Cash amp was 48.5%. Foreign participation was 18.40% of total market turnover whilst net foreign buying was Rs. 85.8Mn.
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