CSE turnover crosses Rs. 4 billion, LOLC Finance contributes more than 50%

By Hiran H.Senewiratne

Profit takings were noted at the Colombo Stock Market yesterday which continued from the previous day. But the turnover touched more than Rs 4 billion with the major internal transfer/crossing from the LOLC Finance, which contributed more than 50 percent to the day’s turnover thus creating a positive sentiment.

With the global palm oil shortage, due to drought conditions in palm oil producing countries, Watawala Plantation which was also one of the manufactures of palm oil indicated a significant price appreciation in their stocks. Its share price shot up to Rs 91.30 from Rs 88.80, which was a three percent or Rs 2.50 price increase, market analysts said.

Amid those developments both indices moved downwards. All Share Price Index down by 53.3 points while S and P SL20 down with 22.7 points. Turnover stood at Rs 4.03 billion with three crossings. Those crossings were reported in LOLC Finance, which crossed 500,000 shares to the tune of Rs 2.85 billion and its share price traded at Rs 5.70, Pan Asia Bank four million shares crossed to the tune of Rs 76 million and it’s share price traded at Rs 19 and HNB 442,000 shares crossed to the tune of Rs 74.4 million and its share price traded at Rs 168.50.

In the retail market, the top seven companies that mainly contributed to the turnover were HNB Rs 73.4 million (438,000 shares traded), LOLC Finance Rs 58 million (10.3 million shares traded), Capital Alliance Rs 42 million (791,000 shares traded), Watawala Plantations Rs 41 million (452,000 shares traded), First Capital Rs 38 million (1.1 million shares traded), Browns Investments Rs 35.5 million (6.7 million shares traded) and CIC (Non Voting) Rs 34.7 million (676,000 shares traded). During the day 558 million share volumes changed hands in 13023 transactions.

The Central Bank announced the US dollar rate yesterday. Accordingly; the rupee opened at Rs 303.90/304.05 to the US dollar in the spot forex market slightly stronger from Rs 304.35/50 on the previous day, dealers said, while bond yields were steady. A bond maturing on 15.12.2026 was quoted stable at 11.30/40 percent.A bond maturing on 15.12.2028 was quoted down at 12.05/15 percent from 12.07/12.15 percent. .