Shares edge-up in mid-day trade; turnover touches Rs. 4 billion

By Hiran H.Senewiratne

The share market edged- up in mid- day trade yesterday on banking counters as debt restructuring fears eased and banking shares continued to be undervalued. The All- Share Price Index increased by 85.84 points to 11,011.3 in midday trading, market analysts said.

The S and P SL20 rose by 33.27 points. Turnover stood at Rs 4.1 billion with seven crossings. Those crossings were reported in Cargills which crossed 500,000 shares to the tune of Rs 145 million, its shares traded at Rs 290, CIC Holdings one million shares crossed for Rs 72 million and its shares traded at Rs 72, Distilleries 2 million shares crossed for Rs 45 million, its shares fetched Rs 22.50, Dankotuwa Porcelain 1.6 million share volumes crossed for Rs. 42.4 million, its shares traded at Rs 26.50, JKH 250,000 shares crossed to the tune of Rs 39.7 million; its shares sold at Rs 159, Hemas Holdings 500,000 shares crossed for Rs 37 million and its shares traded at Rs 74 and Melstacope 265,000 shares crossed to the tune of Rs 20.1 million, its shares traded at Rs 76.

In the retail market top seven companies that mainly contributed to the turnover were; Aitken Spence Rs 250 million (1.6 million shares traded), DFCC Rs 245 million (3.1 million shares traded), NTB Rs 181 million (156,000 shares traded), Lanka IOC Rs 180.9 million (1.2 million shares traded), Softlogic Capital Rs 176 million (48.9 million shares traded), Sampath Bank 157 million (2.2 million shares traded) and Capital Alliance Rs 142 million (2.7 million shares traded). During the day 156 million share volumes changed hands in 29000 transactions.Yesterday, the Central Bank’s US dollar buying rate was Rs 316.30 and selling rate Rs 330.29.