Research

Today’s session was fairly typical: TMT amounted to Rs31M, Financial companies constituted two-thirds of exchanges, and gains and drops were almost evenly matched. Indices however retreated slightly: ALEX 20 (-0.05%), SEMDEX (-0.1%) and ALCAPEX 12 (-0.3%) dragged down by an easing-off among banks, ongoing declines among hoteliers despite generally favourable/stable Q2 financials, and sugars. 

 

Boosted by improved earnings, MUA surged to near 5Yr-High Rs80 (+1.9%), ASCE at Rs20.20 (+0.5%) forged ahead to fresh Records, and LUX bounced back to 13Wk-High Rs60 (+1.7%). On flip side, SUN (-3.9%) slumped to 6Yr-Low seemingly in anticipation of impairments, while both ALTEO (-2.6%) and ENL (-0.2%) closed at their lowest in 6Wks.

 

Atypically, ASL [10%] was actively traded at Rs86 (±0%) as was CIM [13%] also at a flat Rs7.60 (±0%) both having posted improved Q2 profitability.