June 12, 2013 (LBT) - Index dips below 6,300: Following a further correction the market dipped below 6,300 mark with 19 point drop leading to lower turnover and activity. Continuous downward volatility was noted throughout the day stemming from selling pressure in counters that went through an upsurge in the recent past. The counters that lead the decline were John Keells Holdings, Ceylon Cold Stores, Carsons Cumberbatch and Sri Lanka Telecom.
Strong buying in Sampath Bank: Sampath Bank has been attracting strong investor interest during the last couple of days despite its declining price primarily supported by its healthy valuations. The counter saw 1 crossing of 300k shares changing hands at LKR215.0. A number of mid-sized on board blocks changed hands at LKR215.0 with overall on-board volumes reaching 521k shares. The counter closed the day at LKR215.0 with a drop of 0.9%. Two crossings also witnessed in Commercial Bank with 500k share changing hands at LKR118.0.
Renewed Interest in MTD Walkers: MTD Walkers saw 1.4mn shares changing hands with no crossings as one large on board deal of 1mn shares were dealt at LKR30.0. Amidst heavy buying interest the counter appreciated 14.4% to close at LKR31.8. Chevron Lubricants recovered from a sharp dip in price at the start of the day where it recorded an intra-day low of LKR280.1. However the counter closed up for the day at LKR294.5 (+0.4%).
Retail activity on selected counters: Retail interest remained moderate despite lower turnover with activity registered in MTD Walkers while retail selling pressure was also noted in Nation Lanka and its Warrant with the Warrant expected to expire converting it to normal shares.