Positive indications on debt restructuring help bourse

By Hiran H.Senewiratne

CSE shares jumped in mid- day trade yesterday following some indications that China is willing to take up Sri Lanka’s debt restructuring with the IMF, an analyst said.Amid those developments both indices moved upwards. The All- Share Price Index went up by 214.47 points and S and P SL20 rose by 76.5 points. Turnover stood at Rs 2 billion with three crossings. Those crossings were reported in Expolanka Holdings, which crossed 325,000 shares to the tune of Rs 56.8 million, its shares traded at Rs 175, Melstacorp 500,000 shares crossed for Rs 27.5 million and its shares fetched Rs 55 and Asia Hotel Properties 506,000 shares crossed to the tune of Rs 20.7 million and its shares traded at Rs 41.

In the retail market, seven companies that mainly contributed to the turnover were; Softlogic Capital PLC, Rs 344 million (27.5 million shares traded), Softlogic Life Insurance Rs 253 million (2.3 million shares traded), JKH Rs 215 million (1.5 million shares traded), Lanka IOC Rs 160 million (851,000 shares traded), Expolanka Holdings Rs 148 million (532,000 shares traded), LOLC Finance Rs 66.3 million (10.2 million shares traded) and Browns Investments Rs 63.1 million (10.5 million shares traded). During the day 94.3 million share volumes changed hands in 18000 transactions

It is said high net worth and institutional investor participation was noted in Expolanka Holdings, Dipped Products and Lanka IOC. Mixed interest was observed in Softlogic Life Insurance, John Keells Holdings and Softlogic Capital, while retail interest was noted in First Capital Holdings, Browns Investments and LOLC Finance.

The Insurance sector was the top contributor to the market turnover (due to Softlogic Life Insurance), while the sector index lost 0.61 per cent. The share price of Softlogic Life Insurance moved down by Rs. 4.80 (4.66 per cent) to Rs. 98.20.

The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index decreased by 0.29%. The share price of Expolanka Holdings decreased by 50 cents to Rs. 173.75.Yesterday, the Central Bank ‘s US dollar buying rate was Rs 359.57 and the selling rate Rs 369.81.


, Business, ,

Post a Comment

Previous Post Next Post