The activity levels of the Plantation Sector increased, whilst the number of trades in the Banking Sector came 2nd. When Plantations witnessed 1845 transactions, with 75.5M in T/O, Banking gave 444.40 in T/O with 1133 trades. As the ASI brought in 922M of T/O, what contributed by Banks was about 48%. Manufacturing with 1191 trades became the 3rd heavily traded sector, but it was the 2nd highest Sector in terms of T/O with 247.1M.
MHDL was the highest traded counter, and along with this LDEV witnessing 232 trades dominated Land and Property Sector. However LDEV manages Agarapathana Plantations, hence it is more like a company that needs to be monitored with the Plantations than with L&P sector.
Sampath and Commercial Banks saw a lot of participation primarily by foreign and local investors, along side some local traders. Sampath saw a T/O 149.5M, in the normal board, whilst 154.5M came in from a Crossing. Sampath saw a high of 327, and Comb saw a high of 147.90.
Retailers kept mopping up Plantations with ELPL being the top trader, as MAL saw 341 trades. BALA came out of the accumulation to break out of 39. LDEV too witnessed mopping up yet it is trading below the present high of 12.80.
Tokyo saw a crossing of over 2M shares, perhaps the last stages of the Foreign selling. Need to keep an eye on this.
As mentioned yesterday I prefer to track the weekly ASI chart, and the key area to test is 6650. As the ASI closed at 6529 today it is about 130 points above. The 200 DMA looks a support at present which is around 6397 points.
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