Positive impact on CSE indices; turnover exceeds Rs. 2 billion

By Hiran H.Senewiratne

With the lowering of fears that the banking sector will not be negatively impacted by debt restructuring, investors went for most valued stocks yesterday. This created a positive impact on both indices. The All Share Price Index went up by 181.03 points and S and P SL20 rose by 83.36 points. Turnover stood at Rs 2.71 billion with eight crossings.

Those crossings were reported in LB Finance, which crossed 5.4 million shares to the tune of Rs 289.7 million; its shares traded at Rs 53.50, Cargills 878,000 shares crossed for Rs 219.6 million; its shares traded at Rs 250, CT Holdings 740,000 shares crossed for Rs 133.2 million and its shares traded at Rs 180, JKH 781,000 shares crossed to the tune of Rs 110.5 million and its shares fetched Rs 141.50, Sampath Bank 500,000 shares crossed to the tune of Rs 26.5 million and its shares traded at Rs 53, Lanka ILC 200,000 shares crossed for Rs 25.8 million, its shares fetched Rs 129, Hayleys 300,000 shares crossed for Rs 21.6 million and its shares fetched Rs 72 and Distilleries 1 million shares crossed for Rs 21 million; its shares stood at Rs 21.

In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 239 million (37.5 million shares traded), JKH Rs 106.8 million (753,000 shares traded), LB Finance Rs 91.7 million (1.7 million shares traded), Browns Investments Rs 89.8 million (15.2 million shares traded), Hayleys Rs 86.2 million (1.1 million shares traded), First Capital Treasuries Rs 80.9 million (3.1 million shares traded) and Sampath Bank Rs 77.5 million (1.5 million shares traded). During the day 123 million share volumes changed hands in 21000 transactions.

It is said high net worth and institutional investor participation was noted in Sampath Bank, JKH and HNB. Mixed interest was observed in CIC Holdings, Softlogic Capital and Hayleys, while retail interest was noted in Blue Diamonds Jewellery Worldwide, LOLC Finance and Browns Investments.

The Banking sector was the top contributor to the market turnover (due to HNB and Sampath Bank) while the sector index gained 0.82 percent. The share price of HNB increased by Rs. 2.75 to Rs. 132.75. The share price of Sampath Bank gained by one rupee to Rs. 52.10.

The Materials sector was the second highest contributor to the market turnover (due to CIC Holdings), while the sector index increased by 0.54 percent. The share price of CIC Holdings recorded a gain of Rs. 1.20 to Rs. 61.20.

LOLC Finance and Softlogic Capital were also included among the top turnover contributors. The share price of LOLC Finance moved up by 50 cents to Rs. 6. The share price of Softlogic Capital appreciated by one rupee to close at Rs. 9.50. Yesterday, the Central Bank’s US dollar buying rate was Rs. 303.19 and the selling rate Rs 318.99.