Bounce in banking sector

By Hiran H.Senewiratne 

Banking sector counters at the CSE witnessed some gains yesterday following the Central Bank’s decision to review the ruling that prevented banks from paying dividends to shareholders  for 2020 due to the pandemic situation in the country, market analysts said. 

Commercial Bank share prices moved up by Rs. 2.20 or 2.8 percent. Its shares started trading at Rs. 78.80 and at the end of the day they moved up to Rs. 81, HNB shares moved up by Rs. 3.90 or 3.5 percent. Its shares started trading at Rs. 115.10 and at the end of the day they moved up to Rs. 119, Sampath Bank  shares moved up by Rs. 3.20 or 2.6 percent. Its shares moved up to Rs. 128.90 from Rs. 125.70 and NDB share prices moved up by Rs. 1.90 or 2.6 percent. Its shares started at Rs. 74.10 at the end of the day they moved up to Rs. 76.

The CSE closed positive yesterday enabling it to end November with a 9 percent  gain.  Both indices moved up, i.e., the All Share Price Index went up by 73.70 points and S and P SL-20 by 44.05 points. The turnover stood at Rs. 2.54 billion with tree crossings. Those crossings were reported in Aitken Spence, which crossed 900,000 shares to the tune of Rs. 45.5 million and its shares traded at Rs. 51, JKH 250,000 shares crossed for Rs. 37.3 million, its per share value Rs. 149 and Distilleries 1.5 million shares crossed for Rs. 31.3 million, its shares trading at Rs. 21.50.

In the retail market top five companies that contributed to the turnover were, ACL Cables Rs. 151,5 million (2.1 million shares traded), Expolanka Rs. 136.3 million (five million shares traded), Melstacorp Rs. 135.5 million (3.1 million shares traded), Commercial Bank Rs. 120.6 million (1.5 million shares traded) and Aitken Spence Rs. 108.8 million (2.1 million shares traded). During the day  112 million share volumes changed hands in 25152 transactions.