High net worth, retail and mixed interests run in tandem at CSE

By Hiran H.Senewiratne

The Colombo Stock Exchange (CSE) yesterday reached close to a three-month high despite the previous day showing an acute slip in the market towards the latter part of the day. Market analysts said it was in consequence to negative comments made by opposition political parties on Domestic Debt Optimization (DDO) exercise.

Amid those developments both indices moved downwards. All Share Price Index down by 65.35 points and S and P SL20 down by 19.61 points. Turnover stood at Rs 1.44 billion with five crossings. Those crossings were reported in Sampath Bank, which crossed 3.4 million shares to the tune of Rs 202.7 million and its share price traded at Rs 58. JKH 685,000 shares crossed to the tune of Rs 162.7 million and its share price traded at Rs 50, Hemas Holdings 500,000 crossed to the tune of Rs 35 million and its share price traded at Rs 70, Keells Hotels 1.7 million shares crossed to the tune of Rs 29 million and its share price traded at Rs 17.10 and Cargills 945,00 shares crossed to the tune of Rs 23.8 million and its share price traded at Rs 252.

In the retail market top seven companies that mainly contributed to the turnover were JKH Rs 204.4 million (1.3 million shares traded), Lanka IOC Rs 112 million (855,000 shares traded), Browns Investments Rs 66 million (11.8 million shares traded), Sampath Bank Rs 48.4 million (866,000 shares traded), Expolanka Holdings Rs 42.5 million (321,000 shares traded), Keells Hotel Rs 30.1 million (1.7 million shares traded) and Hayleys Rs 28.8 million (376,000 shares traded). During the day 56.9 million share volume changed hands 12000 transactions.

It is said high net worth and institutional investor participation was noted in JKH, Sampath Bank and Keells Hotel. Mixed interest was observed in Commercial Bank, Melstacorp and Hayleys, whilst retail interest was noted in Softlogic Capital, Amana Bank and Browns Investments.

The Capital Goods sector was the highest contributor to the market turnover (due to JKH) whilst the sector index increased by 2.48 percent . The share price of JKH moved up by Rs. 4.25 (2.93 percent) to close at Rs. 149.50.