LOLC Group contributes more than 30 percent to CSE turnover

By Hiran H.Senewiratne

The LOLC Group of companies contributed more than 30 percent to the CSE’s turnover yesterday and moved the stock market to positive territory. Mainly LOLC Finance, followed by Browns Investments, contributed to the market’s vibrancy, market analysts said.

LOLC Finance’s shares became the most preferred stocks among local and foreign investors. The LOLC Finance share price appreciated by 12.5 percent or 80 cents. Its share price shot up to Rs 7.20 from Rs 6.40.

The All Share Price Index went up by 75.2 points while S and P SL20 rose by 44.4 points. Turnover stood at Rs 1.3 billion with one crossing. The crossing was reported in Hemas Holdings, which crossed 250,000 shares, which were worth Rs 82.50 a share, to the tune of Rs 20.6 million.

In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 231.3 million (34 million shares traded), Browns Investments Rs 101 million (17.8 million shares traded), Lanka Milk Food Rs 96 million (3.1 million shares traded), Capital Alliance Rs 76.3 million (1.2 million shares traded), Commercial Bank Rs 58.8 million (555,000 shares traded), LOLC Rs 57.2 million (133,000 shares traded) and Softlogic Holdings Rs 49.8 million (4.1 million shares traded). During the day 114 million share volumes changed hands in 17435 transactions.

Yesterday the US dollar buying rate was Rs 297, while the selling rate was Rs 306.45. The overall rate of inflation as measured by the National Consumer Price Index decreased to 2.5 percent in March, compared to 5.1 percent in February 2024.