LSL Weekly Report - 01st Feb 2013

Profit taking on retail driven counters saw the broader index losing ground on Monday whilst gains on a handful of blue-chips saw the S&P SL20 index gaining marginally. Premier blue-chip John Keells Holdings dominated turnover contributing more than 72%. The counter closed marginally higher at Rs. 225.00.

ASI lost 23.10 points (0.39%) to close at 5,855.09 and the S&P SL20 index gained 4.07 points (0.13%) to close at 3,194.72. Turnover was Rs. 759.6Mn.

On Tuesday, retail profit taking persisted whilst foreign picked up blocks in few blue-chips. A general feeling of retail selling was seen today although this is seen as a correction as foreigners still value our blue-chips whilst reduction in interest rates are also expected in the future. Sampath Bank, LOLC and John Keells Holdings were the top picks for the foreigners today.

ASI dropped 54.24 points (0.93%) to close at 5,800.75 and the S&P SL20 index lost 8.96 points (0.28%) to close at 3,185.76. Turnover was Rs. 1,351.0Mn.

Indices closed higher on Wednesday helped by gains on John Keells Holdings, Commercial Bank and Nestle. The former two counters and LOLC saw tremendous institutional interest with Commercial Bank being the pick of the day. Retail activity still remains on the sideline which is seen as a period of consolidation. Yields on all three treasury bills fell further in today’s auction.

ASI gained 25.15 points (0.43%) to close at 5,825.90 and the S&P SL20 index gained 7.87 points (0.25%) to close at 3,193.63. Turnover was Rs. 2,678.7Mn.

Thursday, Commercial Bank and John Keells Holdings continued attract institutional and high net worth investors with the two counters dominating today’s turnover. Retail investors seem to have settled down awaiting another bullish period. Foreign investors exiting certain companies shouldn’t be seen as a worrying issues as these shares are trading at attractive prices and local buying helps to retain future gains.

ASI dipped marginally by 9.01 points (0.15%) to close at 5,816.89 and the S&P SL20 index gained 3.98 points (0.12%) to close at 3,197.16. Turnover was Rs. 3,425.1Mn.On Friday, premier blue-chip John Keells Holdings and Commercial Bank continued to attract foreign and local institutional activity. John Keells ended up being the highest contributor to turnover. Retail activity remained dull today.ASI lost 17.20 points (0.30%) to close at 5,799.69 and the S&P SL20 index lost marginally by 0.80 points (0.03%) to close at 3,196.81. Turnover was Rs. 951.1Mn.

Top contributors to turnover were John Keells Holdings with Rs. 591.0, Commercial Bank with Rs. 177.9Mn and CT Holdings with Rs. 31.8Mn. Most active counters for the day were Union Bank, Commercial Bank and John Keells Holdings.Notable gainers for the day were CT Holdings up by 8.9% to close at Rs. 144.00, Browns Investments up by 5.9% to close at Rs. 3.60 and Browns Beach Hotel up by 5.8% to close at Rs. 20.00.. Notable losers for the day were Singer Sri Lanka down by 6.2% to close at Rs. 100.10, Renuka City Hotels down by 6.0% to close at Rs. 235.00 and Hotel Services down by 2.9% to close at Rs. 16.50.Cash map for today was 60.86%. Foreign participation was 47% of total market turnover whilst net foreign buying was Rs. 446Mn.

Quote for the day

“First if all, never play macho man in the market. Second, never overtrade. My major problem was not the number of points I lost on the trade, but that I was trading far too many contracts relative to the equity in the accounts that I handled.” - Paul Tudor Jones

LSL Market Review 31st Jan 2013

Commercial Bank and John Keells Holdings continued to attract institutional and high net worth investors with the two counters dominating today’s turnover. Retail investors seem to have settled down awaiting another bullish period. Foreign investors exiting certain companies shouldn’t be seen as a worrying issues as these shares are trading at attractive prices and local buying helps to retain future gains.

ASI dipped marginally by 9.01 points (0.15%) to close at 5,816.89 and the S&P SL20 index gained 3.98 points (0.12%) to close at 3,197.16. Turnover was 3,425.1Mn.

Top contributors to turnover were Commercial Bank with 1,609.8Mn John Keells Holdings with Rs. 1,311.5Mn and DFCC with Rs. 140.0Mn. Most active counters for the day were People’s Leasing & Finance, Pan Asia Bank and John Keells Holdings.

Notable gainers for the day were SMB Leasing up by 11.1% to close at Rs. 1.00, people’s Finance up by 7.6% to close at Rs 41.20 and Amana Takaful up by 6.3% to close at Rs. 1.70. Notable losers for the day were People Leasing & Finance down by 9.4% to close at Rs. 13.50, Citrus Waskaduwa down by 6.0% to close at Rs. 6.30 and Colonial Motors down by 4.5% to close at Rs. 145.10.

Cash Map for today was 18.45%. Foreign participation was 70% of total market turnover whilst net foreign selling was Rs. 292Mn.

Quote for the day

Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it." - Peter Lynch

LSL Market Review 30th Jan 2013

Indices closed higher helped by gains on John Keells Holdings, Commercial Bank and Nestle. The former two counters and LOLC saw tremendous institutional interest with Commercial Bank being the pick of the day. Retail activity still remains on the sideline which is seen as a period of consolidation. Yields on all three treasury bills fell further in today’s auction.

ASI gained 25.15 points (0.43%) to close at 5,825.90 and the S&P SL20 index gained 7.87 points (0.25%) to close at 3,193.63. Turnover was Rs. 2,678.7Mn.

Top contributors to turnover were Commercial Bank with Rs. 1,915.3Mn, LOLC with Rs. 372.7Mn and John Keells Holdings with Rs. 81.0Mn. Most active counters for the day were Commercial Bank, Environmental resource Investments and John Keells Holdings.

Notable gainers for the day were Citrus Waskaduwa up by 8.1% to close at Rs. 6.70, Renuka Agri up by 6.5% to close at Rs. 4.90 and Hayleys Fiber up by 5.1% to close at Rs. 34.80. Notable losers for the day were Panasian Power down by 3.6% to close at Rs. 2.70, Lanka Orix Finance down by 2.8% to close at Rs. 3.50 and Chevron Lubricants up by 1.5% to close at Rs. 215.00.

Cash map for today was 38.6% led by foreign investors. Foreign participation was 44.84% of total market turnover whilst net foreign selling was Rs. 1,426.5Mn.

Quote for the day

“There are no secrets to success: don't waste time looking for them. Success is the result of perfection, hard work, learning from failure, loyalty to those for whom you work, and persistence.” - Colin Powell

LSL Market Review 29th Jan 2013

Retail profit taking persisted today whilst foreign picked up blocks in few blue-chips. A general feeling of retail selling was seen today although this is seen as a correction as foreigners still value our blue-chips whilst reduction in interest rates are also expected in the future. Sampath Bank, LOLC and John Keells Holdings were the top picks for the foreigners today.

ASI dropped 54.24 points (0.93%) to close at 5,800.75 and the S&P SL20 index lost 8.96 points (0.28%) to close at 3,185.76. Turnover was Rs. 1,351.0Mn.

Top contributors to turnover were Sampath Bank with Rs. 428.1Mn, John Keells Holdings with Rs. 391.2Mn and LOLC with Rs. 265.7Mn. Most active counters for the day were Environmental Resource Investments, Sampath Bank and LOLC.

Notable gainers for the day were Tess Agro up by 4.2% to close at Rs. 2.50, CT Holdings up by 3.9% to close at Rs. 145.00 and ODEL up by3.6% to close at Rs. 23.00. Notable losers for the day were Kotagala Plantations down by 11.9% to close at Rs. 57.00, Lanka Aluminum down by 8.1% to close at Rs. 34.00 and Browns Beach Hotel down by 7.7% to close at Rs. 18.00.

Cash map for today was 34.22% which is an improvement from yesterday. Foreign participation was 33.34% of total market turnover whilst net foreign buying was Rs. 830.64Mn.