The CSE indicated very dull and but volatile conditions yesterday as external and internal environmental factors continued to clog stock trading, market analysts said.
Both indices reflected downward trends. The All Share Price Index went down by 151.47 points while the S and P SL20 declined by 32.27 points.
Turnover stood at Rs 3.16 billion with eight crossings. The top seven crossings were: Access Engineering 7.8 million shares crossed for Rs 623 million; its shares traded at Rs 79, Lanka IOC 2.8 million shares crossed to the tune of Rs 366 million; its shares sold at Rs 128.50.
Sunshine Holdings 3.1 million shares crossed for Rs 89 million; its shares traded at Rs 28.50, NDB 545,000 shares crossed for Rs 60 million; its shares traded at Rs 110, JKH three million shares crossed to the tune of Rs 56 million and its shares traded at Rs 18.50, LMF 475,000 shares crossed for Rs 40 million; its shares traded at Rs 83.50 and WindForce 660,000 shares crossed for Rs 26 million; its shares traded at Rs 39.90.
In the retail market top seven companies that mainly contributed to the turnover were; Access Engineering Rs 826 million (10.4 million shares traded), Commercial Bank Rs 104 million (521,000 shares traded), JKH Rs 102 million (5.5 million shares traded), Richard Pieris Rs 52 million (1.9 million shares traded), Sunshine Holdings Rs 47 million (1.7 million shares traded), CCS Rs 44 million (374,000 shares traded) and Watawela Plantations Rs 43 million (908,000 shares traded). During the day 68 million share volumes changed hands in 15781 transactions.
It is said that construction related companies, especially Access Engineering, led the market while the banking sector also performed well, especially NDB and Commercial Bank. Further, manufacturing sector counters, especially JKH, were also significantly active at the floor while plantations sector counters, especially Watawela Plantations, performed well.
Meanwhile, Sanasa Life Insurance Company said it was planning the total divestment of its shareholding in subsidiary Sanasa General Insurance Company Limited.
The parent company plans to completely offload its equity stake in the general insurance arm, comprising up to 30,614,059 ordinary shares representing 53.5 percent of the issued share capital, CSE sources said.
First Capital Treasuries disclosed that Manjula Mathews, who stepped down from her position as chairperson with effect from October 1, holds a relevant interest in the company’s shares by virtue of being a director of First Capital Limited (which holds 550,093,968 shares) and a director and shareholder of its ultimate parent company, Janashakthi.
Yesterday the rupee was quoted flat at Rs 330.55/65 to the US dollar in the spot market, while bond yields were broadly steady, dealers said.
Source : The Island
