CSE market capitalization hits Rs. 3 trillion

By Hiran H.Senewiratne 

CSE market capitalization crossed the Rs.3 trillion mark on January 4. Accordi-ngly, market capitalization at the end of the relevant trading session was Rs. 3,013,426,581,096.

Ceylon Tobacco Company (CTC) is the largest listed company in the CSE in terms of market capitalization with Rs.211 billion. Second is John Keells Holdings with a market capitalization of Rs.197 billion and third Dialog Axiata with a market capitalization of Rs.102 billion.

Market capitalization, or “market cap”  is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share. Market cap is used to size up corporations and understand their aggregate market value.

Certain of the CBSL’s market friendly policy plans which were revealed by the Governor Prof. W.D Lakshman are seen as providing an impetus to the stock market. 

Yesterday at the CSE, crossings were reported in Kelani Cables, which crossed 600,000 shares to the tune of Rs. 71.1 million, its shares trading at Rs. 118.50, Alumex three million shares crossed for Rs. 68.5 million and its shares traded at Rs. 22.50, TJLanka 977,000 shares crossed for Rs. 38.1 million, its shares fetching Rs. 39, Amana Takaful 2.6 million shares crossed for Rs. 29.5 million its shares traded at Rs. 11, JKH 149,000 shares crossed for Rs. 22.4 million with its shares trading at Rs. 150. Meanwhile, Vallibel One 750,000 shares crossed for Rs. 21.3 million, its shares traded at Rs. 28.50, Hayleys Fabrics 700,000 shares crossed for Rs. 20.2 million, its shares traded at Rs. 25.90 and Softlogic Capital five million shares crossed for Rs. 20 million, registering a share price of Rs. 4.

In the retail market top five companies that mainly contributed to the turnover were, Browns Investments Rs. 1.26 billion (249.7 million shares traded), Expolanka Rs. 634.4 million (19.7 million shares traded), ACL Cables Rs. 372 million (4.2 million shares traded), Alumex Rs. 240 million (10.3 million shares traded) and Vallibel One Rs. 193.9 million (6.6 million shares traded). All Share Price Index was up by 83.88 points and S and P SL20 up by 21.20. During the day  434.6 million share volumes changed hands in 39,000 transactions.

Further,  ACL Cables will go for a subdivision of shares whereby one ordinary share will be subdivided into two ordinary shares. Under this, 119.5 million shares will be subdivided into 239.6 million shares. With this move ACL Cables’ share value appreciated by Rs. 3.40 or four percent. Its shares started trading at Rs. 84.10 and at the end of the day they moved up to Rs. 87.50.   

Sri Lanka rupee was quoted stronger around 190/192 to the US dollar in the one month market on Tuesday, while bond yields were steady, dealers said. Sri Lanka rupee last closed at 191/193 levels on Monday. In the secondary securities market, bond yields were steady in dull trade dealers said.