LOLC and Hayleys dominate share market trading; turnover touches Rs. 2.5 billion

By Hiran H.Senewiratne

CSE activities were positive yesterday due to LOLC Group counters dominating the market. But there was an acute increase in Hayleys shares as well due to the company being one of six companies that tendered bids for the Sri Lanka Airlines divestiture, market analysts said.

Both indices moved upwards. The All Share Price Index went up by 77.50 points while S and P SL20 rose by 11.1 points. Turnover stood at Rs 2.5 billion with one crossing. The crossing was reported in Colombo Fort Lands, which crossed 1 million shares to the tune of Rs 30 million; its shares traded at Rs 30.

In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 400 million (66 million shares traded), LOLC Finance Rs 318 million (44 million shares traded), Capital Alliance Rs 150 million (2.4 million shares traded), CIC Holdings Rs 97.9 million (1.3 million shares traded), Central Industries Rs 93.1 million (716,000 shares traded), Agsta Rs 92.9 million (11 million shares traded) and Dolphin Hotel Rs 91.3 million (2.2 million shares traded). During the day 207 million share volumes changed hands in 26000 transactions.

Yesterday the rupee opened stronger at Rs 300.00/40 to the US dollar in the spot market after closing at Rs 300.50/301.00 on Monday, dealers said. The rupee closed at 302.00/50 to the US dollar on Friday.

Bond yields were flat as buyers awaited the next development in sovereign bond re-structuring, market participants said. There were both positive and negative sentiments among bond investors, dealers said. Meanwhile, a bond maturing on 15.12.2026 was quoted at 11.32/40 percent from 11.30/40 percent on Monday. A bond maturing on 15.09.2027 was quoted at 11.92/12.00 percent, down from 11.95/05 percent. A bond maturing on 15.12.2028 was quoted flat at 12.15/25 percent.