CBSL Governor’s assurances on debt restructuring boost share market; turnover crosses Rs. 4 billion

By Hiran H. Senewiratne

CSE activities were positive throughout yesterday after the Central Bank Governor and the Treasury Secretary gave the country an assurance that the IMF’s proposed external debt restructuring would not have a major impact on any sector, especially the banking sector.

Amid those developments both indices moved upwards. The All- Share Price Index rose by 72.2 points and S and P SL 20 went up by16.2 points. Turnover stood at Rs 4.2 billion with seven crossings.

Those crossings were reported in LOLC General which crossed 315 million shares to the tune of Rs 2.5 billion, its shares traded at Rs 8, NDB 5.6 million shares crossed for Rs 242 million, its shares traded at Rs 43, JKH 1.5 million shares crossed for Rs 217million and its shares fetched Rs 140, Central Finance one million shares crossed to the tune of Rs 72 million, its shares traded at Rs 72, Union Bank 3.3 million shares crossed for Rs. 32.6 million and its shares fetched Rs 9.10 , Melstacorp 500,000 shares crossed to the tune of Rs 27.5 million and its shares traded at Rs 55 and LB Finance 400,000 shares crossed for Rs 22 million; its shares being traded at Rs 55.

In the retail market top five companies that mainly contributed to the tuneover were Sampath Bank RS 163 million (three million shares traded), Expolanka Holdings Rs 82. 4 million. (605,000 shares traded), Browns Investments RS 62.9 million (10.4 million shares traded), Softlogic Capital Rs 62.9 million (5.6 million shares traded) and Capital Alliance Rs 61 million (1.8 million shares traded). During the day 382 million share volumes changed hands in 12000 transactions.

Yesterday, half of the day’s turnover was contributed by the LOLC Group crossing. The Central Bank’s US dollar buying rate was Rs 318.27 and its selling rate Rs 336.01.