ASI Today - 03.10.2017

ASI - If yesterday was the day of the Retailers domain, today the game changed towards the Big guns. Turnover was relatively considerable, as it exceeded 1 billion to register at LKR 1,345,283,456. Momentum is turning out to be more towards a trend continuation in the overall market. But the trend witnessed in the retail savvy counters checked in for some breathing space vis a vis a consolidation. But too early to say it is corrective in nature. We need to give it time, perhaps 2 or 3 days. 


Mostly Traded stocks were:

Symbol	Share Volume	Trade volume	Change (Rs.)	Change Percentage (%)
ELPL.N0000	5,172,415	1,120	2	6.62
LCEM.N0000	3,605,998	624	-0.3	-3.75
MAL.N0000	2,009,025	522	0.2	1.63
LDEV.N0000	1,844,672	478	0	0
BALA.N0000	666,707	468	0	0
ACME.N0000	1,843,729	395	0.2	3.17

Whilst the stocks that came out of their consolidations were:

Symbol	Share Volume	Trade volume	Change (Rs.)	Change Percentage (%)
COMB.N0000	309,464	175	2.2	1.59
JKH.N0000	492,394	83	1	0.61
CFVF.N0000	186,404	112	1.5	4.34

One Stock that took my breath away was Sampath Bank. It screamed through to 320.10, finally to close at 320.00. This stock is trending up while there is a rights issue @ 245/00. As such need to keep our ears to the ground until it goes XR, and the Rights hit the market for trading.

TKYO, JKH and NEST had Crossing Trades totaling over 476 million.

Trend continuation is now in place and the resistance between 6500 and 6600 is the area the index needs to pierce through. Hope it will happen and head higher.