Blue chip quarterly results give impetus to stock trading

by Hiran H. Senewiratne

Share trading at the Colombo Stock Exchange (CSE) was positive yesterday as main blue chip companies including Brown Group of Companies and Hayleys Group of Companies recorded positive quarterly results, stock market analysts said.

Amid this positive sentiment among stock traders, both indices moved upwards; All Share Price Index (ASPI) was up by 45.6 points and S&P SL20 up by 28 points. The day’s turnover stood at Rs 2.95 billion with two crossings.

Those crossing were reported in Commercial Bank which crossed 250,000 shares to the tune of Rs22.2 million and its share price traded at Rs 88 and Royal Ceramics 500,000 share crossed for Rs 20 million while its share price traded at Rs 40.

In the retail market top five companies that mainly contributed to the turnover were LOLC Rs 622 million (1.73 million shares traded),Royal Ceramics Rs 27 million (7 million shares traded), Dipped products Rs 218 million (4.2 million shares traded),Brown Investments Rs 211 million (38.8 million shares traded) and Lanka Walltiles Rs 140 million (2.2 million shares traded ).During the day market was up for the fifth consecutive time and Rs. two billion turnover topped for the third consecutive time.