CSE’s main indices dip; turnover moderate

By Hiran H.Senewiratne

The CSE’s main indices moved downward yesterday. The All- Share Price Index declined by 62.96 points and the S and P SL20 fell by 5.89 points. Turnover stood at Rs 768 million with three crossings. Those crossings were reported in Cargills, where 400,000 shares crossed to the tune of Rs 98 million, its shares traded at Rs 245, CT Holdings 354,000 shares crossed for Rs 67.3 million, its shares fetched Rs 181 and NDB 300.000 shares crossed for Rs 22 million, its shares trading at Rs 44.

In the retail market top seven companies that mainly contributed to the turnover were, Melstacorp Rs 46.2 million (852,000 shares traded), JKH Rs 42.7 million (307,000 shares traded), Expolanka Holdings Rs 31.7 million (218,000 shares traded), Lanka IOC Rs 30.8 million (183,000 shares traded), ACL Cables Rs 28.9 million (350,000 shares traded), SLT Rs 27.6 million (303,000 shares traded) and Capital Alliance Rs 27.2 million (822,000 shares traded). During the day 25 million share volumes changed hands in 10000 transactions.

It is said that high net worth and institutional investor participation was noted in the National Development Bank. Mixed interest was observed in Expolanka Holdings, Sri Lanka Telecom SLT and Sampath Bank, while retail interest was noted in Industrial Asphalts, SMB Leasing nonvoting and Browns Investments.

Foreign participation in market activity remained at subdued levels with foreigners closing as net buyers. The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings), while the sector index gained 6.69 per cent. The share price of Expolanka Holdings increased by Rs. 9.25 (6.70 per cent) to Rs. 147.25.

The Banking sector was the second highest contributor to the market turnover (due to National Development Bank and Sampath Bank) while the sector index decreased by 2.59 per cent.

The share price of NDB lost 60 cents to settle at Rs. 44.30. The share price of Sampath Bank recorded a loss of Rs 1.50 to decline to Rs. 51.

Yesterday the Central Bank’s US dollar buying rate was Rs 313.37 and selling rate Rs 330.50.