Sunshine Holdings, Expolanka, JKH lead market activity

Crossings with trading in Sunshine amounts to 30% of total turnover

By Hiran H.Senewiratne 

Trading activities at the Colombo Stock Exchange (CSE) showed a downward trend as it began yesterday but rebounded later. In the backdrop of current Covid-19 scenario, investor appeared to adopt a cautious stance. However, the fact that net foreign inflow increased during trading sessions on 5th, 6th,9th and10th of August, helped lift sentiments of investors and brokers alike, stock market analysts said.Since August 5, there has been a net inflow of Rs. 94 million, modest yet analysts viewed it as significant given the fact until last Thursday the year to date net foreign outflow was a record Rs. 35.6 billion (over US $ 170 million).

Apart from net foreign inflows, the Colombo stock market saw indices decline in the last couple of days, but yesterday it reported an upward trend with a healthy turnover.

Meanwhile, according to John Keells Stock Brokers, Sunshine Holdings, Expolanka and JKH led market activity including crossings with trading in Sunshine Holdings amounting to 30% of total turnover.

The All Share Price Index was up by 24.69 points and S and P SL20 up by 8.82 points. Turnover stood at Rs 2.9 billion with two crossings. Those crossings were reported in Sunshine Holdings 30.1 million shares crossed for Rs 801 million and its share price traded at Rs 26.60 and JKH 795,000 shares crossed for Rs 109.3 million and its share price traded at Rs 137.50.

In the retail market top five companies that mainly contributed to the turnover were Expolanka Holdings Rs 365 million (4.3 million shares traded), Ambeon Holdings Rs 126.7 million ( three million shares traded), Renuka Holdings Rs 119.7 million (14 million shares traded),  Ambeon Capital Rs 106 million (7.2 million shares traded) and Royal Ceramic Rs 87.5 million (2.1 million shares traded).