“The financial markets are naturally set up to take advantage of and prey upon human nature. As a result, markets initiate major intraday and swing moves with as few traders participating as possible. A trader who does not understand how this works is destined to lose money” - John F. Carte
Wednesday, 22 May 2013
LSL Market Review 22nd May 2013
Colombo Stocks today closed in green where both indexes ended with positive returns. All Share Index closed at 6,461.62, up 19.98 points (0.31%) and S&P SL 20 Index closed at 3,663.98, up 3.04 points (0.08%).
Heavy retail participation was seen in property sector counters such as Ceylinco Seylan Development (up by 7%), Colombo Land & Development (up by 3%) and Overseas Reality (up by 1%). Further investor interest were seen in alcoholic beverage manufactures such as Distilleries (up by LKR 5.90, 3%), Lion Brewery (up by LKR 38.60, 10%) and Ceylon Brewery (up by LKR 38.00, 8%).
Market turnover was LKR 767.7mn. Commercial Bank with LKR 192mn, Cargills Ceylon with LKR 90mn and Sampath Bank with LKR 53mn topped the turnover list today.
Foreign participation was 26% and foreign investors ended as net buyers with a net inflow of LKR 308mn. Cash map closed at 60.3%.
Price appreciation in index heavy stocks such as Nestle by LKR 40.00, Ceylon Tobacco by LKR 10.00 and Chevron Lubricants by LKR 12.80 contributed positively to the index performances.
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