CSE picks up subsequent to President’s address

By Hiran H. Senewiratne

The CSE’s overall trading was reportedly positive yesterday following President Gotabhaya Rajapaksa’s address to the country, which specifically mentioned the reinstatement of the 19th amendment to the Constitution and the establishment of good governance in the country. It boosted the confidence of all market stakeholders.

Amid those developments both indices moved up considerably. The All- Share Price Index went up by 238 points and the S and P SL 20 rose by 93.6 points. Turn over stood at Rs 1.19 billion without any crossings.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 444 million (2.6 million shares traded), HNB Rs 100 million (1.2 million shares traded),LOLC Finance RS 87 million (12.4 million shares traded), Brown Investments Rs 77.5 million (12.4 million shares traded), Hayleys Fabrics Rs 41.5 million (1.4 million shares traded),LOLC Holdings Rs 40.9 million (88600 shares traded) and Kelani Valley Plantations Rs 25 million (440 000 shares traded). During the day 59.3 million shares volumes change hands in 14824 transactions.

Yesterday, the Central Bank announced US dollar buying rate as Rs 364.22 and selling rate as Rs 377.49. However, in the kerb market the US dollar rate is above Rs 400.