Demand for blue chip company stocks activates CSE

By Hiran H.Senewiratne

An increase in the number of blue chip stocks being bought at the Colombo Stock Exchange (CSE) activated the market yesterday to a great extent. This helped the main indices to rise – the All Share Price Index by 36.9 points and S and P SL20 by 3.5 points.


Amid these developments, the day's turnover reached Rs. 618 million with two crossings. Those crossings were: JKH's 680,000 shares crossed for Rs. 114.2 million and per share traded at Rs. 167.50., Tokyo Cement crossed 770,000 shares for Rs. 59.2 million and its shares traded at Rs. 77.

Under the normal market scenario, the companies that contributed mainly to the day's turnover were; Browns Investments  Rs. 50.8 million (23.6 million shares were traded), JKH Rs. 32.4 million (193,000 shares traded) and Central Finance Rs. 30.2 million (328,000 shares traded).

It is said that 52.5 million shares changed hands in 7661 transactions.

The share price indices at the CSE had also made consistent gains in the month of April, with the benchmark All Share Price Index (ASPI), crossing the 6,500 mark on April 20.

The index closed at 6,602.44 points by the end of trading for 4th May 2017, a 6.01 percent increase in the index in 2017 (year‐to‐date). The S&P SL 20 index, which features the CSE’s 20 largest and most liquid stocks had also improved consistently, making a 8.26 % gain in (year‐to‐date) and closing at 3,785.15 points.

Overall trading activity had improved in 2017, with the Daily Average Turnover recorded for trading in 2017 (year‐todate) marking an improvement to Rs. 901.0 Million from Rs.737.2 in 2016.

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