Crossings with trading in Central Finance accounts for 44% of CSE turnover

By Hiran H.Senewiratne

Shares values ended firmer for the third  straight session  yesterday to hit a one-week closing high, while the rupee ended slightly stronger, market sources said.

 The foreign investor sentiment seems to be improving following the Central Bank Governor Indrajit Coomaraswamy's statement on the stock market which he emphasized that the stock market is still a discounted market, which is ideal for foreign investors to be active in the market.

Amid those developments foreign investor participation and sentiment improved somewhat. Both indices moved upwards ie All Share Price Index by 12.22 points and S and P SL20 by 10.67 points .

Further, the day's turnover stood by Rs 411.6 million with three crossings from Central Finance  and Expolanka. Central Finance crossing contributed Rs 182.19 million to the day's turnover, which crosses 2.05 million shares in all three crossing per share value Rs 89. In Expolanka crossing 7.7 million share crossed for the tune of Rs 37.8 million per share value Rs 4.90.

In fact, Central Finance (CFIN), Dialog and Expolanka led market activity including crossings with trading in CFIN amounting to 44% of total turnover.

In the retail market companies that mainly contributed to the day's turnover were Dialog Rs 54.3 million (6.03 million shares traded), HNB Rs 46.19 million (341 935 shares traded), Access Engineering Rs 19.65 million (1.51 million shares traded), Expolanka Holdings Rs 10.6 million (2.2 million shares traded) and JKH Rs 8.36 million ( 59540 shares traded). During the day 23.55 million shares volumes traded in 3351 transactions.

Access Engineering was trading 50 cents up at  Rs 13  a share. contributing most to the ASPI gain. Commercial Bank was trading 80 cents up at Rs 93  a share and DFCC Bank was 50 cents higher at Rs 70  a share, also helping the benchmark index.

Foreign investors sold a net  Rs 3.5 billion  worth of government securities in the week that ended on June 4, extending  net foreign outflow to Rs 21.9 billion  so far this year, Central Bank data showed.

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