Investors take new positions
Retail play was shaky yesterday as most investors were booking
profits whilst some were taking new positions to further benefit from
the prevailing positive sentiment. A period of consolidation is on the
cards as market RSI has reached a high level. Institutional
participation was evident but was relatively overshadowed by its retail
peers.
ASI gained 5.45 points (0.09%) to close at 5,967.62 and the S&P SL20
Index gained 3.78 points (0.11%) to close at 3,363.14. Turnover was Rs.
846.6Mn.
Top contributors to turnover were Colombo Dockyard with Rs.146.1Mn,
Colombo Land & Development with Rs.93.1Mn and Commercial Bank with Rs.
60.6Mn.
Most active counters for the day were Touchwood Investments, Colombo
Land & Development and Central Investments & Finance. Notable gainers
for the day were Environmental Resource Investments warrant-6 up by
19.2% to close at Rs. 3.10, Environmental Resource Investments warrant-3
up by 17.7% to close at Rs. 2 and Convenience Foods up by 9.8% to close
at Rs. 220 Notable losers for the day were Industrial Asphalts down by
7.0% to close at Rs. 250.10, Citizens Development Bank down by 5.7% to
close at Rs. 31.50 and Citrus Waskaduwa down by 5.2% to close at Rs.
7.30.
Cash map was 39.63%. Foreign participation was 12.0% of total market
turnover with net foreign buying of Rs. 114.6Mn.
Lanka Securities Research |