Expectations of positive trends in 2023 lift bourse

By Hiran H. Senewiratne

CSE trading activities were positive throughout yesterday, as most investors anticipate positive trends in the New Year, stock market analysts said. It is said that shares gained in the middle of the session due to positive sentiments stimulated by falling of inflationary pressures, analysts said. However, trading sentiment indicated buying interest as investors see signs of economic stabilization.

Insurance sector counters became more active than on other trading days, market analysts added. Amid those developments both indices moved upwards. The All- Share Price Index went up by 55.81 points and S and P SL-20 rose by 15.9 points. Turnover stood at Rs 1.5 billion with one crossing. The crossing was reported in Tess Agro, which crossed 105.8 million shares; its shares were quoted at Rs 1.

In the retail market top seven companies that mainly contributed to the turnover were; Softlogic Capital Rs 371 million (37.3, million shares traded), Softlogic Life Insurance Rs 224 million(2.4 million shares traded), Lanka IOC Rs 113 million (561,000 shares traded), Expolanka Holdings Rs 109 million (599,000 shares traded),Browns Investments RS 94.5 million (13.3 million shares traded), Janashakthi Insurance Rs 83.8 million (2.4 million shares traded) and JKH Rs 70.9 million (525,000 shares traded). During the day 280 million share volumes changed hands in 18000 transactions.

Insurance and financial sector counters were the main contributors to the day’s turnover, followed by the retail sector. Yesterday, the Central Bankannounced US dollar buying rate was Rs 360.40 and selling rate Rs 371.60