ASPI records biggest single day points gain as LOLC drives extremely bullish market

Hiran H.Senewiratne 

The CSE was extremely bullish yesterday and it was mainly driven by the LOLC Group of companies headed by Ishara Nanayakkara, stock market analysts said. Both indices were positive. The ASPI  recorded the biggest single day points gain in history with 332.16 points, setting a new all time high with the index closing at 8 463.43 points. S and P SL20 was up by 117.34 points.

Main companies that contributed to the ASPI were, LOLC, Carsons, Browns Investments, Expolanka and JKH. Those companies were main gainers in the market and their share prices appreciated during the day. LOLC share price moved up by 25 percent or Rs. 70.25. Its shares started trading at Rs. 281 and at the end of the day they moved up to Rs. 351.25 ( Its contribution to the ASPI 76 points), Expolanka shares appreciated by 8.7 percent or Rs. 4.40, Its shares started trading at Rs. 50.70 and at the end of the day they moved to Rs. 55.10  (Its contribution to the ASPI  was 20 points).

Browns Investments shares appreciated by 25 percent or Rs. 42. Its shares started trading at Rs. 162 and at the end of the day it moved to Rs. 168  (Its contribution to the ASPI was 20 points). JKH shares appreciated by 4 percent or Rs. 6. Its shares started trading at Rs. 162 and at the end of the day they moved to Rs. 168 (Its contribution to the ASPI was 18 points). Carsons shares appreciated by 24 percent or Rs. 74.25. Its shares started trading at Rs. 305.75 and at the end of the day they moved to Rs. 380 (Its contribution to the ASPI was 33 points).

During the day turnover reached Rs. 12.8 billion with ten crossings. Those crossings were in Commercial Bank, which crossed 3.2 million shares to the tune of Rs. 307.3 million, its shares traded at Rs. 99, JKH 1.4 million shares crossed for Rs. 245 million, its shares traded at Rs. 168, CT Holdings one million shares crossed for Rs. 172.8,Mililion its shares traded at Rs. 172.8, Expolanka two million shares crossed for Rs. 112 million, its shares traded at Rs. 56, Cargills 391 million shares crossed for Rs. 86.5 million, its shares traded at Rs. 225.

Meanwhile, Sampath Bank 500,000 shares crossed for Rs. 56 million, its shares trading at Rs. 140, HNB 400,000 shares crossed for Rs. 56 million, its shares traded at Rs. 140, Tokyo Cement (Non Voting) 375,000 shares crossed for Rs. 29.6 million, its shares fetched Rs. 79, Central Finance 270,000 shares crossed for Rs. 26.7 million, its shares traded at Rs. 99 and Lion Brewery 45000 shares crossed for Rs. 26.1 million, its shares trading at Rs. 580.

In the retail market top five contributors to the turnover were, LOLC Rs. 1.8 billion (5.4 million shares traded), Expolanka Rs. one billion (18.6 million shares traded), Dipped Products Rs. 589 million (one million shares traded), Browns Investments Rs. 547 million (79 million shares traded) and JKH Rs. 485 million (2.9 million shares traded). During the day 590 million share volumes changed hands in 16387 transactions. 

Meanwhile, First Capital has announced a debenture issue to raise Rs. 2 billion in order to do future expansions and developments, its sources said.  

Sri Lanka’s rupee was quoted weaker around 197.50/199.50 to the US dollar in the spot next market on Friday, while bond yields were up marginally, dealers said. Rupee last closed around 197.00/198.00 in the spot-next market on Thursday against the greenback.