CSE bullish yesterday pinning hopes on political stability

By Hiran H. Senewiratne

CSE was extremely bullish yesterday, and it was able to touch more than RS 3 billion turnover level, which was recorded after March 2022. Further, most of the blue chip companies were driven by EXPO Lanka holdings, which gained more than 10%, stock market analysts said.The political stability under President Ranil Wickremesinghe has created positive investor sentiment, therefore, market participation was buoyant in a significant manner, they said.

On this backdrop, both indices moved up. The All share price index up by 149 points and SL 20 index up by 119 points, turnover recorded Rs 3.79 billion with two crossings.

Those crossing were reported in Melstacope which crossed 6.3 million shares to the tune of RS 260 million and its share price traded at Rs 41 and John Keels Holdings 1 million shares crossed for RS 120 million and its share price traded at Rs 120. In the retail market top five companies that contributed to the tune over were Expo Lanka holdings Rs 950 million (4.5 million share traded), Lanka IOC Rs 522 million (4.9 million shares traded),LOLC Finance RS 333 million (3.6 million shares traded), Brown Investments (24 million shares traded) and ALC Cables Rs 105 million (2.2 million shares traded).

During the day 150 share volume change in hand in 32 thousand transaction were reported. Significantly the transport sector mainly contributed to the turnover which was highlighted yesterday.Transportation was the most actively traded sector. Diversified Financials was the best performing sector.Consumer Durables and Apparels was the worst performing sector.