CSE closes the week with an uninterrupted sequence of success

By Hiran H.Senewiratne

The Colombo Stock Exchange (CSE) yesterday kicked off with selling pressure on its shares. However, share trading bounced back later and crossed the 15,500 mark reaching yet another new milestone.

Obviously market activities were very positive due to the conclusion of debt restructuring process as well as the upgrading of ratings by the Rating Agencies, coincidentally just before the end of the year.

This has built up confidence in local and foreign investors thus giving them enough reason to expect the continuation of current positive economic trends, market analysts said.

Amid those developments both indices moved. The All Share Price Index up by 135.1 points while S and P SL20 up by 79.95 points. Turnover stood at Rs 9.8 billion with ten crossings.

Those crossings were reported in HNB, which crossed 7.5 million shares to the tune of Rs 2.2 billion and it’s share price traded at Rs 298, Seylan Bank 3.5 million shares crossed to the tune of Rs 245 million and its share price traded at Rs 70, LOLC Holdings 224,000 shares crossed to the tune of Rs 155 million and its share price traded at Rs 700, Hayleys Fabrics 2.4 million shares crossed to the tune of Rs 132 million and it’s share price traded at Rs 55, Commercial Bank 300,000 shares crossed to the tune of Rs 41.8 million and it’s share price traded at Rs 139.75, Eden Hotel two million shares crossed to the tune of Rs 34 million and it’s share price traded at Rs 17, DFCC 303,000 shares crossed to the tune of Rs 28.4 million and it’s share price traded at Rs 93.70, Sampath Bank 200,000 shares crossed to the tune Rs 24.50 and its share price traded at Rs 112.50, JKH one million shares crossed to the tune of Rs 22.3 million and it’s share price traded at Rs 22.30 and Maravila Hotels three million shares crossed to the tune of Rs 21 million and its share price traded at Rs 7.

In the retail market, top six performing companies that contributed to the turnover were LOLC Holdings Rs 511 million (738,000 shares traded), Commercial Bank Rs 403 million (2.8 million shares traded), HNB Rs 392 million (1.3 million shares traded), LMF Rs 306 million (6.6 million shares traded) DFCC Rs 303 million (3.1 million shares traded) and Browns Investments Rs 285 million (40 million shares traded) During the day 293 million shares volumes changed hands in 43000 transactions.