ASI Today - 02.10.2017

ASI - Closed 32 points ahead of the previous close at 6470.96 points. Turnover was 549.47M, lower than previous. But the transactions exceeded 10,204 that was stupendous, given the Turnover levels. This clearly showed the level of interest by Retailers in action. As such the Market was highly concentrated  on the Plantation Stocks, coupled with a few trading stocks.

Heavily Traded Stocks were:
Lanka Cement - 866 trades. T/O 33M, +1/50(22.73%)
Lankem Development - 784 Trades. T/O 35.4M, +1/10(10%)
Balangoda Plantations - 768 Trades. T/O 37.1M, +6.10(20%)
Malwatte Valley Plantations - 757 Trades. T/O 41.7M, +1.80(17.1%)
Malwatte Valley Plantations (Non Voting) - 657 Trades. T/O 20.6M, +1.90(18.63%)

Apart from the top 5 above Madulsima Plantations, ACME, Maskeliya Plantations and Lanka Orix Finance captured the Traders attention. Acme, LOFC and LCEM came in as new entrants to a much dominated Plantations counterparts.

However it was the S&P SL 20 heavy weights that took the ASI up. The major contributors were:

Ceylon Tobacco - 20 Trades. T/O 19.07M, +29/-(2.99%)
Cargills - 41 Trades. T/O 3.6M, +8.10(4.22%)
LOLC - 86 Trades. T/O 39.4M, +5/-(3.94%)
HNB - 23 Trades. T/O 13.4M, +5/-(2.13%)
Sampath - 72 Trades. T/O 22.8M, +1/50(.49%)
JKH - 49 Trades. T/O 13.7M, +1/50(.92%)

The movements we saw in the blue chips are encouraging, and we can expect a positive momentum for tomorrow as well.

There are day trading opportunities, but one must never trade without money management strategies.

There was one solitary LION trade that was over 20M(Crossing) chipping in 24M.