"Investors always overshoot and undershoot." - Mohnish Pabrai
Tuesday, 7 May 2013
LSL Market Review 07 May 2013
Colombo Bourse surpassed 6,200 levels today with high volumes. 20 stocks reached 52 week high prices today including high-cap Aitken Spence up by LKR 7.80, Chevron Lubricants up by LKR 2.90, Nestle up by LKR 4.90, John Keells Holdings up by LKR 4.60, DFCC Bank up by LKR 6.50 and National Development Bank up by LKR 5.00.
All Share Index advanced by 80.51 index points (1.32%) to close at 6,201.68 and S&P SL 20 Index advanced by 50.83 index points (1.47%) to close at 3,511.95. Daily market turnover was LKR 1.4bn.
Top contributors to the turnover were Vallibel One with LKR 127.0mn, Seylan Bank non-voting with LKR 100.0mn and Commercial Bank with LKR 99.9mn. Seylan Bank non-voting made a single crossing of 0.89mn shares at a price of LKR 40.00 per share.
Vallibel One, Colombo Land & Development and Textured Jersey were the heavily traded stocks during the day.
Foreign participation accounted for 14.3% of the total market activity. At the end of the trading foreign investors were net buyers with a net foreign inflow of LKR 248.8mn. Cash map for the day closed at 61.4%. RSI on All Share Index reached 89.
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