CSE trading boosted by foreign buying interest in JKH stocks

By Hiram Senewiratne

CSE trading activities edged up in the middle of the session yesterday due to foreign buying interest in blue- chip counters, especially JKH stocks, market analysts said.

The market was mainly driven by JKH, which contributed 64 index points, which was half the All- Share Price Index points. Its shares moved up by Rs 11.25 or six percent. Its share price moved up to Rs 195.75 from Rs 184.25.

Amid those developments both indices moved upward. The All- Share Price Index went up by 64.27 points and S and P SL 20 Index rose by 45.89 points. Turnover stood at Rs 3 billion with one crossing, which was reported in JKH, which crossed 210,000 shares to the tune of Rs 39.9 million; its shares traded at Rs 190.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 400 million (two million shares traded), Pan Asia Bank Rs 303 million (15.2 million shares traded), Lanka IOC Rs 199 million. (1.6 million shares traded), Capital Alliance Rs 158.9 million (2.8 million shares traded), Seylan Bank (Non- Voting) Rs 154.1 million (3.3 million shares traded), Commercial Bank Rs 153.3 million (1.4 million shares traded) and Sampath Bank Rs 103.7 million (1.3 million shares traded). During the day 105 million share volumes changed hands in 28000 transactions.

Yesterday, the Central Bank’s US dollar buying rate was Rs 315.05 and selling rate Rs 328.57.