CSE’s green trend punctuated by 10 crossings

By Hiran H.Senewiratne

CSE trading yesterday was extremely positive, having witnessed a bearish trend in the last few days. However, investors have, quite rightly, evaluated June quarter results and purchased shares in several sectors, market analysts said.

During the day high net worth clients and institutional investors were very active in the market and moved it to the green territory, market sources said.

Amid those developments the market was dominated by crossings and retail investors. Consequently, both indices moved upwards. The All- Share Price Index went up by 162 points and S and P SL20 rose by 72 points. Turnover stood at Rs 4.3 billion with ten crossings.

Those crossings were reported in Melstacope, which crossed 2 million shares to the tune of Rs 190.2 million; its shares traded at Rs 86, Expolanka Holdings 1 million shares crossed for Rs 145.5 million; its shares sold at Rs 145, hSenid 9 million shares crossed to the tune of Rs 117 million, its shares traded at Rs 13, HNB 620,000 shares crossed for Rs 113 million, its shares traded at Rs 183, Sampath Bank 1 million shares crossed for Rs 73.5 million; its shares fetched Rs 73, People’s Leasing 3 million shares crossed for Rs 37.5 million and its shares traded at Rs 12.50, TJ Lanka 1 million shares crossed to the tune of Rs 32 million; its shares sold at Rs 32, Three Acre Farms 100,000 shares crossed to the tune of Rs 23 million and its shares traded at Rs 23, LB Finance 300,000 shares crossed for Rs 21 million and its shares sold at Rs 70 and Union Bank 2 million shares crossed for Rs 20.8 million; its shares traded at Rs 10.40.

In the retail market top five companies that mainly contributed to the turnover were; JKH Rs 542.9 million (2.8 million shares traded), Capital Alliance Rs 216.6 million (3.4 million shares traded), TJLanka Rs 215 million (6.4 million shares traded), Melstacope 190.5 million (2.1 million shares traded) and Commercial Bank Rs 186.6 million (1.9 million shares traded. During the day 137 million share volumes changed hands in 23900 transactions.

It is said that high net worth and institutional investor participation was noted in JKH and Expolanka. Mixed interest was observed in Sampath Bank, Capital

Alliance and Softlogic Life Insurance, while retail interest was noted in Softlogic Capital, People’s Leasing & Finance and UB Finance Company.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank), whie the sector index lost 3.61 percent. The share price of Sampath Bank lost Rs. 1.80 to slide to Rs. 72.80.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Softlogic Capital and Capital Alliance).

Yesterday the Central Bank’s US dollar buying rate was Rs 314.45 and selling rate Rs 327.82.