Stock Market Review for the week ending 07th December 2012:
Trading for the month of December got off to a slow start with both the indices closing lower owing to sharp drops in large cap stocks. The ASPI lost 13 points to close at 5,337, while the Milanka lost 27 points to close at 4,847. A turnover of only Rs 173 million was recorded for the day due to lack of strong buying sentiment. The largest contributors for the day was JKH with Rs 24 million followed by Pan Asia Bank contributing Rs 20 million and DFCC with Rs 12 million. The share price of JKH lost Rs 1.40 to close at Rs 207.10. Pan Asia Bank closed flat at Rs 18.00 while DFCC gained cents -/90 to close at Rs 109.00. A net foreign inflow of Rs 7 million was witnessed for the day.
On Tuesday the market closed on a mixed note with the ASPI losing 6 points to close at 5,331 while the Milanka gained 14 points to close at 4,855. A slightly modest turnover of Rs 505 million was recorded on the back of interest in JKH and Environmental Resource Investments warrants which collectively accounted for almost 65% of the day’s turnover. JKH led the top contributors list followed by ERI warrants 3 & 6 and Chevron. The share price of JKH gained Rs 1.90 to close at Rs 209.00. Environmental Resource Investments warrant 06 closed flat at Rs 4.00 while warrant 03 gained cents -/10 to close at Rs 3.70. Chevron gained Rs 16.00 to close at Rs 200.00. A net foreign inflow of Rs 156 million was recorded.
The market closed on a mixed note for the second consecutive day on Wednesday with the ASPI losing points to close at 5,323 while the Milanka gained a point to close at 4,856. An improved activity level of Rs 871 million was recorded on the back of institutional participation in Aviva NDB, JKH and Asiri Surgical, which collectively accounted for near 75% of market turnover. The share price of Aviva NDB lost Rs 19.00 to close at Rs 330.00 while JKH gained cents -/20 to close at Rs 209.30. Asiri Surgical gained cents -/50 to close at Rs 9.00. A net foreign inflow of Rs 701 million was recorded for the day.
On Thursday the market took a turn for the better and closed in the green mainly due to gains on large cap counters. The ASPI gained 64 points to close at 5,387 while the Milanka not to be outdone gained 42 points to close at 4,899. A market turnover of Rs 877 million was recorded on the back of continued local and foreign institutional participation in Distilleries, Nestle, JKH, which together contributed nearly half the day’s turnover. The top contributors list was headed by Distilleries followed by NDB, Environmental Resource Investments warrants 6 & 3, and Nestle. The share price of Distilleries gained Rs 1.00 to close at Rs 151.00 while NDB gained Rs 2.90 to close at Rs 133.90.
ERI warrant 6 and 4 gained by -/20 and -/10 to close at Rs 4.10 and Rs.3.60 respectively. Meanwhile Nestle gained Rs 104.50 to close at Rs 1399.00. A net foreign inflow of Rs 120 million was witnessed during the day.
On the last day of the week the market closed on a mixed note with the ASPI closing higher by a fraction to close at 5,387 while the Milanka lost 5 points to close at 4,893. Activity levels dropped to record only Rs 263 million with block trades in Citrus Leisure and Seylan Bank (non-voting) helping to boost turnover. The top contributors list was headed by Citrus Leisure achieving a turnover of Rs 89 million followed by Seylan Bank (non-voting) with Rs 47 million and Peoples Leasing & Finance with Rs 20 million. The share price of Citrus Leisure gained cents -/60 to close at Rs 25.10 while Seylan Bank (non-voting) closed flat at Rs 35.00. Peoples Leasing gained cents -/50 to close at Rs 13.30.
(Courtesy: Innovest Investments (Pvt) Ltd – an Investment Management Company licensed by the Securities & Exchange Commission of Sri Lanka)
source - www.island.lk
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