CSE turnover hits Rs. 3 billion for third consecutive day

By Hiran H.Senewiratne 

CSE recorded the highest turnover for the week, touching the  Rs. 3.billion  mark yesterday for the third consecutive day. The banking sector  counters dominated in turnover generation almost after two weeks closely followed by manufacturing sector  counters, making a combined contribution of 48 percent, stock market analysts said.

Foreign investors continued to be net-sellers while recording low participation. But yesterday the market was driven and mainly pushed  by retail investors. Further, corporate and institutional investors were also more active than on other trading days, analysts explained. 

All Share Price Index was up by 63.38 points and S and P SL20 up by 32.25 points.  Turnover stood at Rs.  3.54 billion with five crossings. Those crossings were reported in JKH, which crossed 1.5 million shares to the tune of Rs. 205.5 million, its shares trading at Rs. 137, HNB 1.34 million shares crossed for Rs. 183 million, its shares fetching Rs. 130.50, Commercial Bank 1.76 million shares  crossed for Rs. 146.7 million, its shares trading at Rs. 83, Sampath Bank 200,000 shares crossed for Rs. 27.4 million at a per share value of Rs. 137 and Lanka IOC one million shares crossed for Rs. 21 million, its shares trading at Rs. 21.

In the retail market, top five companies that mainly contributed to the day’s turnover were, Expolanka Rs.  330.7 (34 million shares traded), Sampath Bank Rs. 211.1 million (1.53 million shares traded), Commercial Bank Rs. 196 million (2.4 million shares traded), Browns Investment Rs. 152.9 million (55.5 million shares traded) and Tokyo Cement (Non Voting) Rs. 143.9 million (3.1 million shares traded). During the day 182 million share volumes changed hands in 26472 transactions. 

Banking sector, LOLC and Browns Investments contributed heavily to both CSE indices, mainly the All Share Price Index. LOLC share prices moved up by Rs. 3 or 2.2 per cent. Its shares started trading at Rs. 135 and at the end of the day it moved up to Rs. 138 and Browns Investment  share prices moved up by 11.5 percent or 30 cents. Its shares started trading at Rs. 2.60 and at the end of the day it moved up to Rs. 2.90. Further, Sampath Bank and HNB share prices appreciated by four percent  each during the day. Commercial Bank share prices also appreciated during the day,  stock market sources said.      High net worth and institutional investor participation remained subdued for the day while mixed interest was observed in Hayleys Fabric, Tokyo Cement Company, voting and non-voting, and Melstacorp. Retail interest was noted in Expolanka Holdings, Access Engineering and People’s Leasing & Finance.