By Hiran H.Senewiratne
CSE trading activities were extremely bullish yesterday driven by the Vallible One Group, which showed strong buying interest. In the middle of the day the market showed some profit- takings and during the latter part of the day the bourse turned positive, stock market analysts said.
The All- Share Price Index of the CSE surged 111.54 points to close at a record all -time high of 13,280.94 points. It was the fifth consecutive day that the CSE registered a record performance. This week the stock market was very strong and the All- Share Price Index was able to gain 1000 points.
It is said that after witnessing an initial setback, the indices rebounded sharply with the ASPI comfortably exceeding the 13,100 level on the back of strong broad-based buying extended by local investors. While Expolanka , LOLC Finance and Browns Investments continued to drive market activity, improved retail and HNI buying was witnessed in other large-cap stocks, such as Sunshine Holdings, Hayleys and Royal Ceramic, market analysts said.
The All-Share Price Index went up by 111.54 points and S and P SL20 rose by 53.5 points. Turnover stood at Rs 11.6 billion with four crossings. Those crossings were reported in JKH, which crossed 1.8 million shares to the tune of Rs 285 million, its shares traded at Rs 152.50, Softlogic Holdings 1.5 million shares crossed for Rs 84 million, its shares traded at Rs 57, LVL Energy Fund 1.9 million shares crossed for Rs 21.8 million, its shares traded at Rs 11.50 and LOLC Finance 725,000 shares crossed for Rs 20.3 million, its shares fetched Rs 28.
In the retail market top seven companies that mainly contributed to the turnover were; Vallibel One Rs 1.1 billion (18 million shares traded), Aman Bank Rs 856 million (225 million shares traded), Browns Investments Rs 778 million ( 42.4 million shares traded), Sunshine Holdings Rs 616 million (8.8 million shares traded), Expolanka Holdings Rs 544 million (1.4 million shares traded), Hayleys Rs 537 million (3.6 million shares traded) and Kapruka Holdings Rs 390 million (17 million shares traded). During the day 622 million share volumes changed hands in 80000 transactions.
During the day share prices in many companies noted gains. Those were Vallibal One, whose share price appreciated by 15.3 per cent or Rs 12.20. Its share price shot up to Rs 92 from Rs 79.80, Lanka Aluminium share price appreciated by 16 per cent or Rs 4.30. Its share price shot up to Rs 31.10 from Rs 26.80 and DIMO share price appreciated by 22 per cent or Rs 175. Its share price shot up to Rs 875 from Rs 700.
Yesterday, the US dollar was quoted at Rs 202.22, which was the Central Bank controlled price. The actual market price would be Rs 250 but due to the current economic crisis the dollar rate would likely go up to the Rs 300 level, market analysts said.
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