ASPI hits 10,000 point all-time high; buying interest in most counters

By Hiran H. Senewiratne

Trading activities at the CSE were extremely bullish throughout yesterday mainly due to anticipated positive quarterly results from some corporates. Buying interest was witnessed in most counters in the market. Expolanka Holdings, Vallibel One, Kelani Cables and Watawala Plantations share prices significantly appreciated, market analysts said.

Amid those developments, the All-Share Price Index of the CSE ended at a record all time high, surpassing 10000 points and closing at the 10,074 .96 level. Consequently, both indices moved upwards; the All- Share Price Index moved up by 131.58 points and S and P SL20 rose by 46.89 points.

Turnover stood at Rs 6.81 billion with five crossings. Those crossings were reported in JKH, which crossed 650,000 shares to the tune of Rs 91 million, its shares traded at Rs 140, HNB (Non-Voting) 655,000 shares crossed for Rs 89.7 million, its shares traded at Rs 137, Expolanka Holdings 200,000 shares crossed for Rs 44.7 million, its shares traded at Rs 224, Hayleys PLC 300,000 shares crossed for Rs 30.9 million, its shares traded at Rs 103 and Amana Bank 7.3 million shares crossed for Rs 26.3 million, its shares fetching Rs 3.50.

In the retail market, five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 2.3 billion (10.5 million shares traded), Vallibel One Rs 410 million (six million shares traded), Browns Investments Rs 393 million (36.8 million shares traded), ACL Cables Rs 279 million (five million shares traded) and LOLC Holdings Rs 275 million (425,000 shares traded). During the day 235 million share volumes changed hands in 42000 transactions.

During the day, price appreciations were noted in Expolanka, which appreciated by Rs 15.75 or eight percent. Its share price moved up to Rs 224.74 from Rs 209, thus contributing 70 points to the All -Share Price Index. Vallibel One share price appreciated by 9 percent or Rs 5.50. Its share price shot up to Rs 69.50 from Rs 64, Kelani Cables shares increased 24 percent or Rs 36.50. Its share price moved up to Rs 191.75 from Rs 155.25 and Watawala Plantations shares appreciated by 10 percent or Rs 5.90. Its share price moved up to Rs 66 from Rs 60.10.

Lanka Credit and Business Finance Ltd. (LCBF) is one of the newest entrants to the Non-Banking Financial Institution (NBFI) sector in Sri Lanka, having commenced operations in 2018 with the acquisition of a distressed entity under the supervision of the Central Bank of Sri Lanka (CBSL) and will go for an IPO. LCBF is to infuse a further Rs. 200 million via the IPO in the event of an under-subscription. Applications for the offer are being accepted now and the IPO will open today.

Yesterday, the US dollar rate was Rs 201.98, which was the controlled rate set by the Central Bank of Sri Lanka to prevent price escalation of essential consumer products.