Downward slide of main CSE indices continues; profit-seeking by investors

By Hiran H.Senewiratne

Shares edged- down in mid- day trade yesterday as both local and foreign investors looked for profits. Accordingly, both indices moved downwards. The All- Share Price Index went down by 168 points and S and P SL20 declined by 46.4 points.

Market turnover stood at Rs 2.1billion with one crossing. The crossing took place in Expolanka Holdings, which crossed 913,000 shares to the tune of Rs 132 million; its shares traded at Rs 132.

In the retail market top seven companies that mainly contributed to the turnover were; Softlogic Capital Rs 248 million (22.2 million shares traded), Sampath Bank Rs 192 million (2.6 million shares traded), Capital Alliance Rs 148 million (2.4 million shares traded), Softlogic Life Insurance Rs 135 million (1.7 million shares traded), People’s Leasing Rs 104.7 million (8.5 million shares traded), Central Finance Rs 71.5 million (687,000 shares traded) and DFCC Rs 64.4 million (756,000 shares traded). During the day 86 million share volumes changed hands in 22000 transactions.

Yesterday the Central Bank’s US dollar buying rate was Rs 314.72 and selling rate Rs 328.02. The inflation rate is now around 10.80 points. .