JKH seen as ‘good bet’ in South Asia

By Hiran H. Senewiratne 

Leading investment company, Aberdeen Standard Investments, said  that JKH  could be a good bet  in the South Asian region in a post-pandemic economic recovery context, market analysts said.

Further, Aberdeen is the 9th largest shareholder of JKH,  holding 25 million shares as of now, stock market analysts said. 

CSE was positive throughout yesterday due to appreciation of JKH shares by Rs. 3.50 or 2.5 percent. This situation made a positive impact on the CSE trading floor. Its shares started trading at Rs. 142 and at the end of the day they moved up to Rs. 145.40.  With the improvement of investor sentiment both indices became positive and moved upwards, i.e., the All Share Price Index went up by 15.59 points and S and P SL20 by 15.02 points. 

Turnover stood at Rs. 1.7 billion with one crossing. The crossing was reported in JKH, which crossed 300,000 shares to the tune of Rs. 43.5 million; its shares traded at Rs. 145. 

In the retail market top five contributors to the turnover were, JKH Rs. 293 million (2.02 million shares traded), Dipped Products Rs. 205 million (653,000 shares traded), Expolanka Rs. 169 million (6.6 million shares traded), Swisstek  Ceylon PLC Rs. 68.9 million (899,000 shares traded) and Commercial Bank Rs. 55.9 million (730,000 shares traded). During the day, 47 million share volumes changed hands in 16567 transactions. With the appreciation of JKH stocks, other stocks also marginally moved up.

Further, core inflation (Y-o-Y) decreased 4.5 percent  in October 2020 from 4.8% in September 2020, while annual average core inflation decreased marginally to 4.2 percent  in October 2020 from 4.3 percent  in September 2020. This is a plus point for CSE activities, market analysts said.