“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
Wednesday, 6 February 2013
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.
Tuesday, 5 February 2013
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.
Monday, 4 February 2013
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
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.
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.
Thursday, 31 January 2013
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
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