By Hiran H. Senewiratne
CSE trading developed in a positive direction throughout yesterday as global research institutions/firms reported favourably on the government’s economic progress.President Ranil Wickremesinghe, who is travelling overseas, made positive comments on the local debt restructuring process which has been hailed by many of his foreign counterparts. These developments helped improve market sentiments, stock market analysts said.
Accordingly, both indices moved upwards. The All- Share Price Index went up by 38.5 points and S and P SL2O rose by 7.3 points. Turnover stood at Rs 1.16 billion with three crossings. Those crossings were reported in HNB, which crossed 500,000 shares to the tune of Rs 68.5 million; its shares traded at Rs 137m, JKH 200,000 shares crossed for Rs 29 million and its shares traded at Rs 145 and Lanka IOC 200,000 shares crossed for Rs 25.46 million, its shares fetched Rs 127.
In the retail market top seven companies that mainly contributed to the turnover were; Softlogic Capital Rs 108.5 million (11.1 million shares traded), JKH Rs 61.1 million (424,000 shares traded), Lanka IOC Rs 50.7 million (396,000 shares traded), Hayleys Rs 42.9 million (571,000 shares traded), ACL Cables Rs 42.4 million (536,000 shares traded), Sunshine Holdings Rs 42.1 million (933,000 shares traded) and Softlogic Life Insurance Rs 37.8 million (480,000 shares traded). During the day 56.5 million share volumes changed hands in 13000 transactions.
It is said mixed interest was observed in JKH, Lanka IOC and CIC Holdings, while retail interest was noted in Co-Operative Insurance Company, Browns Investments and Blue Diamonds Jewellery Worldwide.Yesterday, the Central Bank‘s US dollar buying rate was Rs 299.03 and selling rate Rs 314.36.