CSE edges down at mid-day but returns to positive territory latterly

By Hiran H.Senewiratne

The CSE edged- down in mid- day trade yesterday on profit- takings, noted especially in banking sector counters as the previous sessions’ gains had boosted confidence among investors. But during the latter part of the day the market returned to positive territory, market analysts said.

The main All Share Price Index was up by 18.3 points and the S&P SL20 rose by 0.45 points. The market generated a turnover of Rs 2.3 billion with seven crossings.

Those crossings were reported in CIC which crossed 6.9 million shares to the tune of Rs 405.2 million and its shares traded at Rs 66, JKH 632,000 shares crossed for Rs 98.2 million, its shares traded at Rs 155.50, Royal Ceramic 2.5 million shares crossed for Rs 83.3 million; its shares traded at Rs 34.20, Sunshine Holdings 1.5 million shares crossed for Rs 73.4 million; its shares traded at Rs 48, HNB 210,000 shares crossed for Rs 157, People’s Insurance 1.3 million shares crossed for Rs 22.40 and ACL Cables 250,000 shares crossed to the tune Rs 21.2 million; its shares fetched Rs 85.

In the retail market, top seven companies that mainly contributed to the turnover were; Hayleys Rs 192 million (2.1 million shares traded), Capital Alliance Rs 170.3 million (3.9 million shares traded), Softlogic Capital Rs 117 million (10.7 million shares traded), Browns Investments Rs 105.3 million (15.6 million shares traded), Sunshine Holdings Rs 101 million (2.1 million shares traded), First Capital Holdings Rs 99 million (2.5 million shares traded) and CIS Holdings Rs 84.3 million (1.2 million shares traded). During the day 120 million share volumes changed hands in 25000 transactions.

Top losers during mid- day trade were Commercial Bank, HNB and Sampath Bank, as debt restructuring assurances channeled profit taking and selling interest. Yesterday the Central Bank’s US dollar buying rate was Rs 300 and the selling rate Rs 315.10.