Quote for the day

"Wall Street is one big turf war, by benefiting one person you are disadvantaging another person." - Bernard Madoff  

LSL Market Review 07th Feb 2013

Market rallied on the back of institutional buying on blue-chips. Banking & financials again contributed immensely in terms of gains on the broader index and almost 55% of turnover. Sampath Bank was the highest gainer in the mentioned sector with the counter also witnessing retail activity.

Sampath Bank, Ceylon Cold Stores, E-Channeling and Dipped Products reached their 52 week highs today.

ASI gained 30.33 points (0.52%) to close at 5,810.42 and the S&P SL20 index gained 26.31 points (0.82%) to close at 3,273.70. Turnover was Rs. 1,534.3Mn.

Top contributors to turnover were Hatton National bank with Rs. 292.5Mn, John Keells Holdings with Rs. 277.9 and Sampath Bank with Rs. 199.1Mn. Most active counters for the day were Sampath Bank, Commercial and E-Channeling.

Notable gainers for the day were Dunamis Capital up by 13.6% to close at Rs. 12.50, Parquet up by 11.7% to close at Rs. 16.20 and Dipped Products up by 5.7% to close at Rs. 112.00. Notable losers for the day were Citizens

Development Bank down by 2.5% to close at Rs. 42.90, Tokyo Cement non-voting down by 1.6% to close at Rs. 18.50 and Union Bank down by 1.3% to close at Rs. 15.40.

Cash map was 48.72% which is significantly better than yesterday. Foreign participation was 63% of total market turnover whilst net foreign buying was Rs.160 Mn.

Quote for the day

“I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad.”- Richard Dennis

LSL Market Review 06th Feb 2013

Gains on banking sector counters such as Commercial Bank and Sampath Bank failed to uplift the broader index as retail selling persisted throughout trading today. Foreigners were seen on the buying side of banking and financials such as Hatton National Bank, Commercial Bank and Sampath Bank. Yields on most treasury bills fell in today’s auction but a period of stable interest rates could be expected going ahead.

ASI fell points 1.21 points (0.02%) to close at 5,780.09 and the S&P SL20 gained 13.48 points (0.42%) to close at 3,217.39. Turnover was Rs1, 171.1Mn.

Top contributors to turnover were Hatton National Bank with Rs.658.3Mn, Commercial Bank with Rs.153.3Mn and Sampath Bank with Rs.74.6Mn. Most active counters for the day were Commercial Bank, Vallibel One and SMB Leasing von-voting.

Notable gainers for the day were Commercial Leasing & Finance up by 8.3% to close at Rs.3.90, Blue Diamonds up by 5.4% to close at Rs.3.90 and Ceylinco Insurance up by 5.2% to close at Rs.950.00. Notable losers for the day were Bimputh Lanka Finance down by 14.4% to close at Rs.15.50, Lanka Orix Finance down by 5.6% to close at Rs.3.40 and Richard Pieris down by 3.8% to close at Rs.7.60.

Cash map for today was 37.62% which is a slight improvement from yesterday. Foreign participation was 69.49% of total market turnover whilst net foreign selling was Rs.70.6Mn.

Quote for the day

“I will tell you I am good at trading. I am good at investing. I am good at making decisions. I am good at admitting mistakes and that’s my best trait. I am really, really good at admitting mistakes. And that’s to me the most important attribute that an investor, that a trader, that somebody who’s trying to make a living matching wits in the market can have is the ability to admit that they are wrong. That trumps all other concerns. Education doesn't seem to have that much viability to me. It’s the ability to say I'm wrong.” - Dennis Gartman 

LSL Market Review 05th Feb 2013

Turnover levels dropped in today’s session but foreigners still remain bullish on blue-chips. Commercial Bank, Aitken Spence and John Keells Holdings were the top foreign picks for the day with retail bullish sentiment picking up on Access Engineering. Retail participation still remains on the sidelines.

ASI dipped 18.39 points (0.32%) to close at 5,781.30 and the S&P SL20 index gained 7.10 points (0.22%) to close at 3,203.91. Turnover was Rs. 447.3Mn.

Top contributors to turnover were Commercial bank with Rs. 119.2Mn, John Keells Holdings with Rs. 76.1Mn and Aitken Spence with Rs. 52.2Mn. Most active counters for the day were Union Bank, Access Engineering and Commercial Bank.

Notable gainers for the day were Talawakelle Plantations up by 9.4% to close at Rs.27.90, Morison’s no-voting up by 4.3% to close at Rs. 109.60 and Free Lanka Capital Holdings up by 4.2% to close at Rs.2.50. Notable losers for the day were Touchwood Investments down by 4.8% to close at Rs.8.00, Asian Hotels & Properties down by 4.6% to close at Rs.72.50 and People’s Leasing & Finance down by 3.7% to close at Rs.13.00.

Cash map for today was 33.45%. Foreign participation was 49.6% of total market turnover whilst net foreign buying was Rs. 4.1Mn.

Quote for the day

"As long as you enjoy investing, you'll be willing to do the homework and stay in the game. That's why I try to make the show so entertaining, because if you aren't interested, you'll either miss the opportunity to make money in the market or not pay enough attention and end up losing your shirt." - Jim Cramer