JKH, Expolanka and Browns Investments lead market activity

By Hiran H.Senewiratne 

The trading activities at the Colombo Stock Exchange (CSE) were sluggish at the beginning of the session yesterday, but there was fresh buying interests for blue-chip companies at mid-day, leading to positive recovery at the close of trading.

The government’s successful vaccination administration process and the news about the re-opening of the country from 1st of October created a positive sentiment in investors, stock market analysts said.

The stock market opened the week on a negative note with lacklustre investor interest leading to low turnover on the previous two days. Some positive macro and micro factors buoyed the market; notably the hotel sector counters and blue chip companies during the day.

Amid those developments both indices moved upwards. All Share Price Index up by 29.4  points and S and P SL20 up by 28.3 points. Turnover stood at Rs 2.56 billion with four crossings. Those crossings were reported in JKH, which crossed 3.3 million  shares to the tune of Rs 440 million and its share price traded at Rs 131.50, Sampath Bank 4.1 million shares crossed for Rs 202.9 million and its share price traded at Rs 49.50, Renuka Hotel 403,000 shares crossed for Rs 39.8 million and its share price traded at Rs 99 and Ceylinco Insurance (Non Voting) 40000 shares crossed for Rs 37.6 million and its share price traded at Rs 940.

 In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs 408.1 million (2.4 million shares traded), Browns Investments Rs 257 million (28.4 million shares traded), Hayleys Rs 166 million (1.7 million shares traded). JKH Rs 139 million (one million shares traded) and LOLC Holdings Rs 88 million (173,000 shares traded). During the day 88.7 million share volume changed hands in 18000 transactions.

High networth and institutional investor participation was noted in Sampath Bank. Mixed interest was observed in Expolanka Holdings, Hayleys and John Keells Hotels, while retail interest was noted in Browns Investments, SMB Leasing and Citrus Leisure.

Trading in JKH amounted to 23% of total turnover.

Meanwhile, net foreign outflow now stands over Rs. 43 billion following Rs. 505 million of net selling during the last two sessions.


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