CSE turnover exceeds Rs. 8 billion, but mixed reactions from indices

By Hiran H. Senewiratne

CSE activities were extremely bullish and active but due to profit- takings in Commercial Leasing and Finance the market became negative despite recording a very healthy turnover yesterday. Commercial Leasing and Finance, being an Index heavy company with the biggest market capitalization in the stock market, showed declining trends resulting in the All-Share Price Index too having a downward trend, stock market analysts said.

During the day, the LOLC Group of companies drove the stock market and several of its subsidiary companies showed price appreciation in an exceptional manner due to heavy buying interest in their stocks by investors. The LOLC Finance share price appreciated by 70 percent or Rs 8.60. Its share price shot up to Rs 21.50 from Rs 12.30. Browns Investments share price appreciated by four percent or 50 cents. Its share price shot up to Rs 11.50 from Rs 10.80.

Other notable appreciations were reported in Expolanka, which has noted heavy buying interest, whose share price moved up by four percent or by Rs 8.75. Its shares started trading at Rs 198.25 and at the end of the day they moved to Rs 207. The Ambeon Capital share price increased by 24 percent or Rs 4.20. Its shares at the end of the day shot up to Rs 21.20 from Rs 17 and RIL Properties reported a 11 percent or 90 cents increase. Its share price moved to Rs 9.70 from Rs 8.50.

Amid those developments, mixed reactions were indicated. The All-Share Price Index went down by 10.81 points and S and P SL20 shot up by 14.71 points. Turnover stood at Rs. 8.3 billion with three crossings. Those crossings were reported in Hayleys Fabrics, which crossed one million shares to the tune of Rs 36 million and its shares traded at Rs 36, Chevron Lubricants PLC 300,000 shares crossed for Rs 34.2 million, its shares traded at Rs 114 and Expolanka Holdings 100,000 shares crossed for Rs 20.1 million, its shares traded at Rs 201.

In the retail market top five contributors to the turnover were, LOLC Finance Rs 3.1 million (182 million shares traded), Expolank Rs one billion (4.9 million shares traded), Browns Investments Rs 861 million (77 million shares traded), Commercial Leasing and Finance Rs 677 million (9,1million shares traded) and LOLC Holdings Rs 294 million (455,000 shares traded).

Main contributors to the All -Share Price Index were LOLC Finance 100 points, Expolanka 38 points and Browns Investments 16 points. However, Commercial Leasing and Finance became the major negative contributor to the All- Share Price Index, which was 178 points. This has put the market down due to it being an index heavy company in the stock market. During the day 373 million share volumes changed hands in 59000 transactions.

Yesterday, the US dollar rate was quoted at Rs 203.31, which was the controlled price by the Central Bank of Rs 203 per US dollar.

Island.lk

, Business, ,

Post a Comment

Previous Post Next Post