Crossings account for over 59 per cent of CSE turnover

By Hiran H.Senewiratne 

The CSE lost momentum as it closed on a marginally positive note, while turnover stood at Rs. 1.6 billion and was dominated crossings. The latter accounted for more than 59 percent of the turnover, stock market analysts said.

During the day the market did not fluctuate much, settling in the 7065 and 2870 range at the end of the day’s trading. In a continuing setback, the year-to-date (YTD) net foreign outflow crossed the Rs. 16 billion mark on Thursday  with net selling of Rs. 94 million, though lower compared to Rs. 327 million on Wednesday.  

Both indices moved upwards. All Share Price Index moved up by 2.94 points and S and P SL20 was also up by 16.53 points. Fifteen crossings took place. 

Those crossings were as follows: Hayleys 2.3 million shares crossed for Rs. 136.5 million, its shares traded at Rs. 60,  Royal Ceramic 519 million  shares crossed for Rs. 135 million, share price Rs. 210,  DIMO 145,000 shares crossed for Rs.86.8 million, share price Rs. 600, CIC 1.4 million shares crossed for Rs. 73 million, share price Rs. 52, LOLC 231,000 shares crossed for Rs. 69.1 million, share price Rs. 300, HNB Assurance 1.1 million shares crossed for 64.8 million, share price Rs 58, HNB (Non Voting) 600,000 shares crossed for Rs. 60 million, share price Rs. 100, Sampath Bank 1.05 million shares crossed for Rs. 59.9 million, share price Rs. 47, Dipped Products 1,000,000 shares crossed for Rs. 48.03  million, share price Rs. 47, Tokyo (Non Voting) 640,000 shares crossed for Rs. 48 million, share price Rs. 60,  JKH 287,0000 shares crossed for Rs. 43 million, share price Rs. 150, Chevron Lubricants 425,000 shares crossed for Rs. 37.4 million, share price Rs. 88, LB Finance 640,000 shares crossed for Rs. 32 million, share price Rs. 50, Overseas Realty 2,000,000 shares crossed for Rs. 31.1 million, share price Rs. 16 and Tokyo (Voting) 400,000 shares crossed for Rs. 28 million, share price Rs. 70.

Top five companies that mainly contributed to the turnover were,  Browns Investments Rs. 131.5 million (24.3 million shares traded), HNB (Non Voting) Rs. 77.1 million (771,000 shares traded), Sampath Bank Rs. 63.5 million (1.1 million shares traded), Hayleys Rs. 49.7 million (852,000 shares traded) and Expolanka Rs. 37 million (831,000 shares traded). During the day  66 million share volumes changed hands in 9642 transactions.  Out of 15 crossings, majority were subsidiaries of Janashakthi Insurance, which accounted for Rs. 933 million of the turnover.   

Sri Lanka’s rupee quoted steady at 199.50/200 to the one week US dollar on Friday, while yields remained unchanged in a dull market, dealers said. The rupee last closed in the one-week forward market at 199.50/200.50 to the US dollar on Thursday.