CSE on the rebound as ASPI records highest single day points

By Hiran H.Senewiratne 

CSE activities were on the rebound yesterday following losses that had occurred during the last two days. Exceptional quarterly performances by Vallibel One and Royal Ceramic contributed to both indices improving, stock market analysts said.

Further, a  psychological boost was also received by stock market investors following a meeting of stockbroker firms’ CEOs with   SEC and CSE officials recently.

It is said that candid views were expressed between the parties and the stockbrokers expressed their views with regard to the information that was being called for by the circular issued by the CSE.     

Amid those developments, both indices were positive, The All Share Price Index registered the highest single day points in history with 387.19 points, the  Index closing at 7585.00 and the All Share Price Index went up by 155.24 points. Both indices increased by 5 percent.

Those crossings were reported in Sunshine Holdings which crossed 6 million shares to the tune of Rs. 480 million, its shares traded at Rs. 80 and Hemas Holdings one million shares crossed for Rs. 90 million, its shares traded at Rs. 90.

In the retail market top five contributing companies to the turnover were, Royal Ceramic Rs. 620 million (1.9 million shares traded), Vallibel One Rs. 536 million (8.6 million shares traded), Expolanka Rs. 501 million (9.85 million shares traded), LOLC Rs. 494 million (1.2 million shares traded) and Browns Investments Rs. 362 million (61.6 million shares traded). During the day  185 million share volumes changed hands in 35880 transactions.      

Sri Lanka rupee was quoted around 193.50/194.00 levels in the spot market on Friday, while bond yields edged up on higher sales, dealers said. The rupee last closed in one-week forward market at 194.00/194.50 levels on Thursday. In the secondary market bond yields gained on selling pressure, but there were low levels of activity and the market remained inactive, dealers said.