CSE trading fluctuations continue

By Hiran H.Senewiratne 

The CSE experienced some market fluctuations yesterday too and during the  morning session the  market plummeted to 190 points but subsequently picked up and indicated  160 points positive. At the end of the day it settled down to -77.5 points.

Amid these developments, the All Share Price Index was down by 77.5 points and S and P SL20 down by 13.95 points. The turnover stood at Rs. 2.80 billion with a single crossing. The crossing was reported in Union Bank, which crossed 2.78 million shares to the tune of Rs. 27 million while its shares traded at Rs. 9.70.

In the retail market top five companies that mainly contributed to the turnover were; Expolanka Rs. 500 million (41 million shares traded), JKH Rs. 193 million (1.5 million shares traded), Tokyo Cement (Voting) Rs. 171.6 million (3.3 million shares traded), Hayleys Fabrics Rs159.8 million (6.8 million shares traded), and Tokyo (Non Voting) Rs. 153.5 million (3.6 million shares traded). During the day 163.3 million share volumes changed hands in 31602 transactions.

Bukit Darah PLC contributed most to ASPI’s plunge, trading  Rs. 325.00 per share, down from Rs. 392.50. Other stocks which contributed to the ASPI’s fall were Ceylinco Insurance PLC, down at Rs. 1,800 a share from Rs. 1,949.40 while Carson Cumberbatch PLC stocks were down at Rs. 251.60 a share from Rs. 645.40..

Apart from that, Renuka Holdings will go for a right issue to raise Rs. one billion to settle previous loans of the company  and for future investments. Under the right issue three new shares will be offered for every four existing shares.  It is said that 66.8 million voting shares will be issued and each share will be traded at Rs. 14 while 9.6 million non voting shares will be traded; each share will be traded at Rs. 10.