Corporate quarterly results impact CSE positively

By Hiran H.Senewiratne

CSE remained buoyant with healthy turnover and gains in indices, though small in comparison to recent sessions. Yesterday the market was positive at the end of the day’s trading but during the first half of the day profit- takings were noted specially among previous day’s bull runners. But subsequently the market turned positive due to favourable quarterly results in most companies, stock market analysts said.

But tile sector counters showed some heavy buying interest due to import restrictions on tiles. As a result, the demand for local tile suppliers has gone up. Amid those developments both indices showed an upwards trend.

The All-Share Price Index gained 30.7 more points or 0.2 per cent and the S&P SL20 rose by 24.29 points or 1 per cent. Turnover was Rs. 4.9 billion with six crossings. Those crossings were reported in HNB, which crossed 1.2 million shares to the tune of Rs 192 million and its shares traded at Rs 160, Commercial Bank 600,000 shares crossed for Rs 53.4 million, its shares traded at Rs 89, Chevron Lubricants 375,000 shares crossed for Rs 43.1 million, its shares traded at Rs 115, Sampath Bank 500,000 shares crossed for Rs 28.5 million, its shares fetched Rs 57, Royal Ceramic 500,000 shares crossed for Rs 28 million, its shares traded at Rs 56 and Lanka IOC one million shares crossed for Rs 26.5 million, its shares fetched Rs 26.50.

In the retail market, five companies that mainly contributed to the turnover were, Expolanka Holdings Rs 1.1 billion (5.2 million shares traded), JKH Rs 342 million (2.3 million shares traded), Chevron Lubricants Rs 317 million (2.7 million shares traded), Royal Ceramic Rs 217 million (4.7 million shares traded) and Browns Investments Rs 248 million (22.5 million shares traded). During the day 121 million share volumes changed hands in 34000 transactions.

It is said that the ASPI managed to end in positive territory for the eighth straight session after overcoming a bout of volatility during the day. Further, high net worth and institutional investor participation was noted in Distilleries. Mixed interest was observed in Expolanka Holdings, Royal Ceramics and ACL Cables, while retail interest was noted in Browns Investments, Kotagala Plantations and SMB Leasing non-voting.

Yesterday, the US dollar was quoted at Rs 200.65, which was a controlled price set by the Central Bank.