Illiquid stocks continue to look good at CSE

ASPI ends higher amid healthy turnover levels

By Hiran H.Senewiratne 

Trading activities at the Colombo Stock Exchange (CSE) were positive yesterday while most of the illiquid shares were relatively active.

The main reason for the market to be positive was due to LOLC Development Finance being very active and its share price appreciated by 25 percent attributing 43 points to the All Share Price Index, stock market analysts said.

During the day both indices moved upwards. All Share Price Index up by 67.01 points and S&P SL20 up by 11.98 points. Turnover stood at Rs 1.21 billion sans a single crossing.

In the retail market top five companies that mainly contributed to the turnover were JKH Rs 96.3 million (698,000 shares traded), C.W Mackie Rs 85.8 million (1.3 million shares traded), LOLC Rs 75.3 million (183,000 shares traded), Commercial Bank Rs 54.5 million (611,000 shares traded) and CIC Rs 46.6 million (849,000 shares traded).

LOLC Development Finance, JKH, LOLC, and Expolanka share prices also appreciated while contributing positively to the All Share Price Index. LOLC Development Finance share price appreciated by 25 percent. Its share price moved up to Rs 400.25 from Rs 320.25 and its contribution to All Share Price Index was 43 points.

JKH  share price appreciated by 1.7 percent or Rs 2.25. Its share price moved up to Rs 138 from Rs 135.75 contributing seven points to All Share Price Index. LOLC share appreciated by 1.6 percent or Rs 6.50. Its share price moved up to Rs 412 from Rs 404.50 contributing six points to the All Share Price Index and Expolanka share price appreciated by 80 cents of 1.6 percent. It’s share price moved up to Rs 50.90 from Rs 50.10 contributing three points to the All Share Price Index. 

Further, C.W Mackie has announced a Rs 7 dividend for every single share for its shareholders. Therefore, its share price was appreciated by 14 percent or Rs 8.50. Its share price moved up to Rs 68.90 from Rs 60.40. During the day 50.1 million share volume changed hands in 18,976 transactions.