Expolanka Distilleries strengthen ASPI week ends on bullish note

By Hiran H.Senwiratne

Two leading CSE listed companies Expolanka and Distilleries contributed positively to the market .Impact to the market was their positive inclusion contributing 15 points each on the All Share Price Index yesterday.

Expolanka share price moved up Rs 3.20 or 10 percent. Its share price commenced trading at Rs 31. Day end trading equity moved to Rs 34.20.

Distilleries share price moved up by Rs 1.40 or 6.5 percent. Its share price started trading at Rs 21.50. moving up Rs 22.90. at end trading.

Both indices moved up. The All Share Price Index 21.69 points and S and P SL 20 up by 15.28 points.

Turnover recorded Rs 6.2 billion with three crossings.

Crossings were Cargills 500,000 shares for Rs 167.5 million. Its share price traded at Rs 215.

JKH 200,000 shares crossed for Rs 29.7 million and its share price traded at Rs 145.50.

Lee Hedges 255,000 shares crossed for Rs 22.8 million. Its share price traded at Rs 80.

In the retail market top five contributing companies for the turnover were Browns Investments Rs 2.93 million (442.5 million shares traded), Expolanka Rs 927 million (27.5 million shares traded), Union Bank Rs 305 million (20.9 million shares traded), LOLC Rs 190 (1.2 million shares traded) and LOLC Finance Rs 99.4 million (20 million shares traded).

During the day 612 million share volume changed hands in 32074 transactions.

The current bullish trend looks encouraging, market direction is likely to depend on the quality of corporate results that will start trickling in over the next few weeks. “Consequently, we advise investors to focus on quality stocks that are trading at discounts to their intrinsic value with a longer-term investment horizon.’ Sources at the CSE said.

Sri Lanka rupee was quoted firmer at 187.50/189.50 in the spot next market against the US dollar on Friday. Bond yields were steady.

The Rupee last closed at 188.50/189.50 to the US Dollar on Thursday.