CSE turnover hits Rs. 5.1 billion but main indices dip

By Hiran H.Senewiratne

Both CSE indices moved downwards yesterday. The All-Share Price Index went down by 210 points and S and P SL20 declined by 80.3 points. Turnover stood at Rs 5.1 billion with two crossings. Those crossings were reported in DFCC Bank, which crossed 1.7 million shares to the tune of Rs 99.6 million, its shares traded at Rs 58.10 and Hela Apparel 1.3 million shares crossed for Rs 20.8 million, its shares fetching Rs 60.

In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 2.9 billion (116 million shares traded), Commercial Leasing and Finance Rs 273 million (5.6 million shares traded), Expolanka Holdings Rs 235 million (750,000 shares traded), Browns Investments Rs 212 million (15.2 million shares traded), Softlogic Holdings Rs 89.4 million (1.2 million shares traded), Royal Ceramic Rs 79.1 million (1.2 million shares traded) and LOLC Holdings Rs 60.6 million (53,0000 shares traded). During the day 219 million share volumes changed hands in 32000 transactions.

Compared to previous sessions, activity was recorded at healthy levels with turnover coming in at a one-week high, mainly driven by Commercial Leasing and Finance (Rs. 772 million), LOLC Finance (Rs. 703 million) and Browns Investments (Rs. 271 million).

It is said that high net worth and institutional investor participation was noted in Renuka Hotels Limited, Guardian Capital Partners and Richard Pieris & Company. Mixed interest was observed in Expolanka Holdings, Sampath Bank and LOLC Holdings, while retail interest was noted in Browns Investments, Commercial Leasing & Finance and Lanka Orix Finance.

Sri Lanka bonds quoted steady on dull trade yesterday, while the official indicative US dollar rate was 202.01, market dealers said. Sri Lanka’s rupee is under pressure amid liquidity injections made to maintain a low rate as forex reserves are sold.