ASPI ends sharply higher amid healthy turnover levels

Vallibel Finance share price settles well after reaching intraday high

By Hiran H.Senewiratne

Stock trading at the Colombo Stock Exchange (CSE) was positive yesterday while the leading financial sector institute Vallibel Finance recorded the highest intraday share price hike which remained for a short period following its announcement the previous day on the sub-division of its shares, stock market analysts said.

Under this move, one existing share would be subdivided into four shares subject to necessary approvals. In this context, its share price appreciated by two percent or Rs 40. Its share price started trading at Rs 162.50 and shot upto Rs 184.50, which however, settled at Rs 166.50 towards the end of the day, stock market analysts said.

Meanwhile, Tokyo Cement non voting and voting share price moved up significantly. The non voting share price appreciated by 8 percent or Rs 4.90. Its share price traded at Rs 62.90 and at the end of the day it moved to Rs 67.90; the voting share price appreciated by six percent or Rs 4. Its share price traded at Rs 69.90 and at the end of the day it shot up to Rs 73.70.

Amid those developments both indices moved upwards. All Share Price Index up by 79.65 points and S&P SL20 up by 35.7 points. Turnover stood at Rs 2.83 million with a single crossing. The crossing took place in Commercial Bank, which crossed 1.8 million shares to the tune of Rs 160 million and its share price traded at Rs 90.

In the retail market top five companies that mainly contributed to the turnover were LOLC Rs 246 million (684,000 shares traded), Vallible Finance Rs 203 million (1.2 million shares traded), CIC (Non Voting) Rs 153 million (3.5 million shares traded), Tokyo Cement (Non Voting) Rs 145.3 million (2.2 million shares traded) and Royal Ceramic Rs 127.9 million ( 3.3 million shares traded). During the day 82.1 million share volume changed hands in 29635 share transactions.