LSX liquidity returned as investors took cash positions

The market was so quiet yesterday and this was perhaps the beginning of the holiday blues as the wind went out of the sails in the early sessions on Tuesday.

Only 5100 stocks crossed by 9:30am. BCEL traded unchanged and turnover was a light 35,455,000 kip. Then just another 80 stocks made it by the 10am close. Activity turned in the second last day's close 11am with over 46K shares traded but the index surprisingly fell 25.28 points to its 52W low at 885.13 points.

One can only assume an investor/s took a “cash position” as EDL-Gen fell without any fundamentals supporting its unsustainable -150 kip fall to 4.150 kip. BCEL in that close was up 50 kip to 7,000.

Turnover by this stage reached 231,953,000 kip. That signaled an excellent buy in opportunity as another 20K shares flooded the market in the final session. Turnover reached 377,206,550 kip (US$41,103) - its best liquidity since the 23 December close.

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