CSE continues on subdued run; indices decline in mid-day trade

By Hiran H.Senewiratne

Shares edged-down in mid-day trade and the market’s subdued run continued yesterday amid low investor interest and activity. The latter was reflected in low turnover and index declines, market analysts said.The All- Share Price Index went down by 1.62 points and S and P SL20 declined by 1.5 points. Turnover stood at Rs 966 million with two crossings. Those crossings were reported in Hemas Holdings, which crossed 860,000 shares to the tune of Rs 55 million; its shares traded at Rs 64 and HNB 174,000 shares crossed for Rs 20.7 million; its shares fetched Rs 119.

In the retail market top seven companies that that mainly contributed to the turnover were, Hemas Holdings Rs 201 million (3.1 million shares traded), Dialog Rs 92.2 million (8.4 million shares traded), Expolanka Holdings Rs 44.6 million (268,000 shares traded), JKH Rs 43.2 million (314,000 shares traded), Tokyo Cement Rs 39.5 million (808,000 shares traded), Browns Investments Rs 32.7 million (5.5 million shares traded) and Ambeon Capital PLC Rs 23.9 million (92.3 million shares traded). During the day 59.3 million share volumes changed hands in 11000 share transactions.

It is said high net worth and institutional investor participation was noted in Hayleys and JKH. Mixed interest was observed in Dialog Axiata, Tokyo Cement Company nonvoting and Expolanka Holdings, while retail interest was noted in Browns Investments, Softlogic Capital and LOLC Finance.

The Capital Goods sector was the top contributor to the market turnover (due to JKH and Royal Ceramics), while the sector index edged up by 0.07%. The share price of John Keells Holdings closed flat at Rs. 137. The share price of Royal Ceramics appreciated by 30 cents to reach Rs. 28.90.

The Materials sector was the second highest contributor to the market turnover (due to Tokyo Cement Company nonvoting), while the sector index decreased by 0.68%. The share price of Tokyo Cement Company nonvoting closed flat at Rs. 48.Yesterday the Central Bank’s US dollar buying rate was Rs 313.05 and the selling rate Rs 328.51.