CSE indices hike to record levels; turnover touches Rs. 4.17 billion
By Hiran H. Senewiratne
CSE trading activities were positive from the beginning yesterday and shares rosé to register their highest close in more than three and a half months. Of particular importance was the news that Paris Club members had expressed their willingness to provide financial assurances on Sri Lanka’s debt restructuring effort.
This had the effect of boosting investor sentiment at the bourse, market analysts said. Moreover, CSE turnover reached the record level of Rs. 4.17 billion, which process was punctuated by five crossings.
Shares of the banking and insurance sectors rose, especially those of Commercial Bank, Sampath Bank and HNB.Amid these developments both indices moved up to record levels. The All- Share Price Index rose by 166.32 points and S and P SL-20 by 53.4 points.
The five crossings were reported in Nations Trust Bank, which crossed 25.25 million shares to the tune of Rs 1.3 billion, its shares traded at Rs 54, JKH 1.8 million shares crossed for Rs 266 million and its shares fetched Rs. 144 , Dialog Axiata 6.49 million shares crossed to the tune of Rs 6.49 million and its shares traded at Rs 10, TJ Lanka 550,000 shares crossed to the tune of Rs 38 and Lankem Ceylon 200,000 shares crossed for Rs 20.4 million; its shares traded at Rs 102.
In the retail market top seven companies that mainly contributed to the turnover were, JKH Rs 562 million (3.8 million shares traded), TJ Lanka Rs 295 million (7.4 million shares traded), Aitken Spence Rs 290 million (1.9 million shares traded), Softlogic Capital Rs 190 million (11.3 million shares traded), Expolanka Holdings Rs176 million, Lanka IOC Rs. Rs 104.2 million (522,000 shares traded) and Softlogic Life Rs 91 million (707,000 shares traded). During the day 106.8 million share volumes changed hands in 15000 transactions.
The gainers for the day were, JKH, Commercial Bank, Sampath Bank and T J Lanka. Buying interest was noted for JKH stocks by foreign investors. Yesterday retail and institutional participation was at a high level, besides the high turnover mark.Yesterday, the Central Bank- announced daily US dollar buying rate was Rs 360 and the selling rate Rs 370.35.
