By Hiran H.Senewiratne
Trading activities of the CSE indicated a bullish sentiment during the morning session yesterday. Later market turnover turned negative due to profit takings and investors became worried that extending the lockdown period by the government will further weaken the overall economy, market analysts said.
The Colombo stock market’s relentless bull-run persisted with more velocity on the previous day with turnover topping Rs. 10 billion for the sixth consecutive day with sharp gains in indices. But yesterday the CSE was able to surpass the Rs. 9 billion turnover mark despite both indices moving downwards. All Share Price Index went down by 19.33 points and the S and P SL20 declined by 3.84 points.
Turnover stood at Rs 9.38 billion with seven crossings. Those crossings were reported in Hayleys where one million shares crossed to the tune of Rs. 120 million, its shares traded at Rs. 120, Sampath Bank two million shares crossed for Rs. 102.5 million, its shares traded at Rs 50.50, HNB 500,000 shares crossed for Rs. 67.5 million, its shares fetched Rs. 135, HNB (Non Voting) 500,000 shares crossed for Rs 64 million, its shares trading at Rs 128, Melstacorp 500,000 shares crossed for Rs. 28.3 million, its shares traded at Rs. 56.50, Softlogic Holdings 1.8 million shares crossed for Rs 24.3 million and its shares traded at Rs. 13.50 while ACL Cables 500,000 shares crossed for Rs 24 million, its shares fetching Rs. 48 and Asiri Hospital Holdings PLC 650,000 shares crossed for Rs. 21.45 million with a share being traded at Rs. 33.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 1.74 billion (9.3 million shares traded), Hemas Holdings Rs. 1.5 billion (21.1 million shares traded), Browns Investments Rs. 1.25 billion (109 million shares traded), Vallibel One Rs. 380 million (5.5 million shares traded) and Hayleys Rs. 342 million (2.8 million shares traded). During the day 689 million share volumes changed hands in 56000 transactions.
It is said high net worth and institutional investor participation was noted in Hatton National Bank, Hayleys and Windforce. Mixed interest was observed in Expolanka Holdings, Vallibel One and Royal Ceramics, while retail interest was noted in Browns Investments, Sierra Cables and many other investor sought after stocks.
The ASPI continued surging to record high levels, led by a range of large-cap stocks which witnessed sharp gains during last session/s, while the more liquid S&P SL20 index closed above the 3,500 level for the first time since January 29.
“In line with the ongoing buoyant momentum market breadth remained positive with price gainers outnumbering decliners by a wide margin of 137 to 54 while turnover remained robust exceeding Rs. 10 billion for the sixth consecutive session on the previous day, market sources said.
Island.lk
, Business, both,extension,indices,investors,lockdown,worried,