CSE shows outstanding growth for twelfth consecutive day

By Hiran H.Senewiratne

The CSE showed outstanding growth for the 12th consecutive day yesterday, as the All Share Price Index gained 164.04 points to close at 9,191.52 points. As a percentage, this is an increase of 1.82 per cent, stock market analysts said.

Amid those developments most stocks were positive but Lanka IOC shares witnessed some profit- takings as investors are anticipating revisions in fuel prices. During the last few months Lanka IOC earned massive profits due to high oil prices. Massive profits came with the price revisions, stock market analysts said.

Further, Hayleys and Expolanka also witnessed some profit- takings. However, the market was driven by retail investors during the day, market analysts added.

“We saw a lot of volatility in the market yesterday due to profit- takings in the key shares that gained in the last 11 sessions, analysts explained.

“Profit-taking has also returned after CSE published the last set of June reports that showed some counters as having done very well, while some not so much well. Therefore, there is a significant reaction to that, stock brokers said.

Meanwhile, the All Share Price Index rose by 164 points and the S&P SL20 index also moved up by 25.28 points to close at 3,097.30 points at the end of trading today. This is an increase of 0.82 per cent.

Yesterday’s market turnover was recorded as Rs. 5.82 billion without any crossings. In the retail market, top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 1.1 billion (6.4 million shares traded), Browns Investments Rs 538 million (60.5 million shares traded), Expolanka Holdings Rs 499 million (2.1 million shares traded), Hayleys Rs 474 million (four million shares traded), Melstacorp Rs 237 million (4.2 million shares traded), Softlogic Life Insurance Rs 218 million (2.5 million shares traded) and Softlogic Capital Rs 218 million (23.8 million shares traded). During the day 231 million share volumes changed hands in 50000 share transactions.

Yesterday, the Central Bank announced the US dollar buying rate as Rs 357.29 and the selling rate as Rs 368.60.


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