Notable buying interest in CSE

By Hiran H.Senewiratne

CSE trading activities were positive throughout yesterday, however lower investor participation was noted due to Covid 19 health concerns in the country. Most investors were not involved in trading activities but significant buying interest was noted at the end of the day’s trading, stock market analysts said.

The Colombo stock market on the previous day suffered one of its steepest falls in recent weeks despite healthy turnover. However, the market witnessed some healthy performances with a reasonable turnover level despite the current pandemic situation.

Amid those developments both indices were positive. The All Share Price Index went up by 15.13 points and S and P SL20 rose by 4.06 points. Turnover stood at Rs. 2.3 billion sans a single crossing. In the retail market seven companies that mainly contributed to the turnover were, Renuka Capital Rs. 483.1 million (48.9 million shares traded), Expolanka Holdings Rs. 275.8 million (3.4 million shares traded), Dipped Products Rs. 126.5 million (2.3 million shares traded), Sierra Cables Rs. 119.9 million (16.1 million shares traded), Ambeon Capital Rs. 106.2 million (4.5 million shares traded), LOLC Holdings Rs. 86.4 million (198.000 shares traded), and Ambeon Holdings Rs. 78.6 million (1.9 million shares traded).

During the day top contributors to the All Share Price Index were Ambeon Capital (10.5 points), Commercial Leasing and Finance (5.73 points) and LOLC Finance (3.5 points). During the day 162.7 million share volumes changed hands in 30000 transactions.

It said that high net worth and institutional investor participation was noted in Sunshine Holdings, Renuka Capital and Royal Ceramics. Mixed interest was observed in Expolanka Holdings and LOLC Holdings, while retail interest was noted in Industrial Asphalts, SMB Leasing non-voting and Browns Investments. Foreign participation in market activity remained at subdued levels with foreigners closing as net sellers.

Meanwhile, the US dollar is selling at Rs. 199.9160, which rate always fluctuates due to the volatility in the market and the deficit in US dollars in the country.

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