CSE’s net foreign inflows cross Rs 20 billion mark

By Hiran H. Senewiratne

The CSE remained bearish yesterday with net foreign inflows year to date crossing more than the Rs 20 billion mark, while both indices began the fresh week positively, stock market analysts said.

Amid those developments the stock market was positive throughout the day, because China has expressed its interest in debt restructuring for Sri Lanka. It has invited the IMF delegation to begin a discussion, market analysts said.

Both indices showed an upward trend. The All- Share Price Index was up by 72.7 points and S and P SL 20 up by 43.6 points.

Turnover stood at Rs 3.1 billion with two crossings; those crossings were reported in Expo Lanka Holdings, which crossed 2.3 million shares to the tune of Rs 403 million and its shares traded at Rs 205 and John Keels Holdings 2.9 million shares crossed to the tune of RS 427 million with its shares trading at Rs 147.

In the retail market top five companies that contributed to the turnover were; Browns Investments Rs 626 million, Expo Lanka Rs 289 million, Dialog Rs 169 million, Lanka IOC Rs 142 million and LOLC Holdings Rs 118 million.

It is said that high net worth and institutional investor participation was noted in Expo Lanka Holdings.

Mixed interest was noted in Lanka IOC, Aitken Spence and JKH, while retail interest noted in Brown Investments, LOLC Finance and SMB Leasing.

The transport sector was the top contributor to the market turnover on account of Expo Lanka holdings.

During the day 149.5 million share volumes changed hands in 23000 transactions.

Yesterday, the US dollar parity rate was Rs 371.75.