CSE on a positive to volatile trajectory

By Hiran H. Senewiratne

Although it kicked off on a positive note yesterday, the CSE turned volatile at the end of trading activities.

During the middle of the session, Lanka IOC PLC (LIOC) announced that profits had fallen 60 percent to Rs 5.0 billion in the September 2023 quarter from a year ago, in its interim accounts. LIOC shares had gained 7.25 percent; up 7.50 to trade at Rs 111.00.

The main All Share Price Index was down 9.34 points, while the more liquid index S&P SL20 was up 4.4 points. Turnover stood at Rs 396 million without any crossings. In the retail trade, companies that mainly contributed to the turnover were Lanka IOC Rs 63.9 million (590,000 shares traded), JKH Rs 47.5 million (247,000 shares traded), Expolanka Holdings Rs 28.3 million (220,000 shares traded), Ceylon Grain Elevators Rs 22.4 million (141,000 shares traded), Laxapana Battery Rs 16.2 million (1.1 million shares traded), Hayleys Fabrics Rs 14.9 million (332,000 shares traded) and Sampath Bank Rs 14.2 million, (214,000 shares traded). During the day 14.2 million share volumes changed hands in 6600 transactions.

Yesterday the US dollar buying rate was Rs Rs 321.70 and the selling rate Rs 332.49.