"You can never predict when that unknown torpedo will come
out of the dark and smash the price of a stock." - Ralph Seger
Wednesday 20 February 2013
LSL Market Review 20th Feb 2013
Interest on John Keells Holdings failed to lift up spirits
at the CSE today as the overall market was sluggish. A handful of blue-chips
such DFCC, NDB, Ceylon Tobacco Company and Chevron Lubricants also gained
ground. It seems buying interest is only evident in fundamentally sound
blue-chips during the past few weeks. Yields on treasury bills were flat across
all three maturities which might indicate that the interest rates will
stabilize at prevailing levels.
ASI dipped 6.94 points (0.12%) to close at 5,730.54 and the
S&P SL20 index lost 13.72 points (0.42%) to close at 3,224.85. Turnover was
Rs. 763.5Mn.
Top contributors to turnover were Hatton National Bank with
Rs. 311.2Mn, Ceylon Tobacco Company with Rs. 189.2 and John Keells Holdings
with Rs. 68.8Mn. Most active counters for the day were Touchwood Investments,
Hemas Holdings and Central Investments & Finance.
Notable gainers for the day were C.W. Mackie up by 5.3% to
close at Rs. 70.00, Hemas Holdings up by 5.1% to close at Rs. 28.70 and Asia
Asset Finance up by 4.2% to close at Rs. 2.50. Notable losers for the day were
Touchwood Investments down by 7.6% to close at Rs. 6.10, Nawaloka Hospitals
down by 6.5% to close at Rs. 2.90 and Panasian Finance down by 3.6% to close at
Rs. 2.70.
Cash map for today was 52.78%. Foreign participation was
55.28% of total market turnover and net foreign outflow was Rs. 223.97Mn.
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