CSE’s momentum dragged down by profit taking

by Hiran H. Senewiratne

Trading activities on the Colombo Stock Exchange (CSE) in the early session yesterday progressed in a positive manner, Subsequently profit takings were noted in index weighted Senkadagala Finance. Its share price started trading at Rs 1251 and at the end of the day, it dropped to Rs 964, which is Rs. 287 or a 25% decline.

Profit takings were noted in other counters as well, according to stock market sources.

As a result of that, both indices recorded negatives .All  share price index was down by 62 points and S and P SL 20 down by 39.5 points.

Turnover stood at Rs7.3 billon  with three crossings. Those crossing were reported in   Happugasthenna Plantations, which crossed 46.6million shares to the tune of RS 1.17 billion and its share price traded at Rs 28.30,LOLC Holdings 32000 share crossed for RS 36.4 million and its share price traded at Rs 1140 and Renuka Hotel 1.5 million shares crossed for RS 29.5 million and it’s share price traded at 90.70.

In the retail market top five companies that contributed to the turnover were Lanka IOC  Rs 502 million(6.6 million shares traded),Expo Lanka holdings RS 4.2 million (1.05 million shares), Brown Investments RS 363 million (25.3 million shares traded), Royal ceramic RS 250 million (3.3 million shares traded) and SBM Leasing RS 246.9 million (123 million shares traded).

During the day 635 million share volume change in hand in 50000 transaction were taken place for the day.