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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Total turnover for the day reaches LKR 2.5 bn

Total turnover for the day reaches LKR 2.5 bn

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
WRITTEN BY THARANGA SENARATNE

Mar 07, 2013 (LBT) - The market continued to edge upwards, albeit modestly with the ASPI gaining 0.3% to close at 5680. Turnover jumped to LKR2.5 bn with trading in Asian Alliance Insurance and Cargills changing hands that accounted for 81% of the day’s total. Gainers outpaced losers with SMB Leasing(X), Nation Lanka Finance(W0021), Serendib Land and Office Equipment rising by 25.0%, 25.0% and 17.7% and offsetting declines in Ceylon Leather(W0013), Samson International and Tea Smallholder which lost 21.9%, 12.5% and 12.3% respectively. Meanwhile, Asian stock markets reversed their gains from the previous day despite the Dow hitting another record on Wall Street, but Tokyo's Nikkei was further supported by a weak
yen.

Construct a robust stock portfolio before stock mispricings are corrected. While the Sri Lankan bourse has been displaying only modest momentum over the last few days, medium to longer term equity investors in the market are likely to be rewarded notwithstanding intermittent bouts of volatility. Despite the discomfort of remaining invested during a sideways market, those with a healthy investment horizon are likely to generate healthy returns. Fundamental investors may benefit as equity correlations peter out to more respectable levels and valuation metrics display more dispersion to appropriately reflect varying corporate growth prospects allowing investors to select and build a robust portfolio of quality stocks before mispricings are corrected and valuations rerate to market multiples.
http://lbt.lk/stock-market/movement/3843-total-turnover-for-the-day-reaches-lkr-25-bn

sriranga

sriranga
Co-Admin
COLOMBO, March 7 (Reuters) - Share purchases in Sri Lankan insurer Asian Alliance Insurance PLC boosted stocks to a two-week high on Thursday, with foreign inflows coming close to a one-year high.

Asian Alliance Insurance, which gained 3.54 percent on the day, said in a corporate disclosure that buyers from the Netherlands and Germany had bought a 19 percent stake each from Softlogic Holdings PLC.

Each bought over 7.1 million shares at 128 rupees.

'This type of investment will boost foreign investor confidence in Sri Lanka,' Prashan Fernando, CEO of Acuity Stockbrokers in Colombo, told Reuters.

The deals helped boost the day's net foreign inflow to 2.18 billion rupees ($17.13 million), its highest since March 19, last year. The year-to-date foreign inflows stand at 2.53 billion rupees.

The main share index rose 0.29 percent or 16.66 points to 5,680.02, its highest Dec. 22.

The day's turnover was 2.54 billion rupees, more than double of the daily average of 1.05 billion rupees this year.

The rupee ended firmer at 127.05/15 to the dollar from Wednesday's close of 127.25/308. ($1 = 127.2500 Sri Lanka rupees)

(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Ron Popeski)

(shihar.aneez@thomsonreuters.com)(+94-11-232-5540)(Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)
http://www.xe.com/news/2013/03/07/3242125.htm

http://sharemarket-srilanka.blogspot.co.uk/

sahan8896


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Because of AAIC.Except that turover and trades were low because of the resistant to sell lower.last few days everyday there were 10+ shares with 52 weeks low and for the players who dragged them lower it'll be a surprise to see that hardly a new sell order is there except there big sell orders.Poor fellas.Don't put sell orders and don't try to sell shares immediately after buy order is filled and don't get fooled buy big selling quantities.

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