Stock market indices rise, marking slight turnaround

by Hiran H.Senewiratne

Both indices moved up at the CSE yesterday, that is, the All Share Price Index went up by 2.04 points and S and P SL20 by 8.92 points taking the day's turnover to Rs. 985.92 million with two crossings. Thus was registered a slight turnaround in the fortunes of the stock market.

Local (investor) participation was very much muted and this trend is expected to continue at the year-end holidays, but foreign investors are more active and interested in select blue chip companies. Amid those developments, the two crossings that took place during the day were: Resus Energy, formerly Hemas Power, crossed 5.7 million shares to the tune of Rs. 137.2 million and per share value was Rs. 24 and Lankem Development PLC three million shares crossed for Rs. 31.8 million at a per shares value of Rs. 10.60.

Retail market companies that mainly contributed to day's turnover were: JKH  Rs. 463.6 million (three million shares), Chevron Lubricants Rs. 74.8 million (79,000 shares traded) and Sampath Bank Rs. 68.4 million (20,5000 shares traded).

During the day JKH contributed more than 47 percent to the day's turnover despite its per share value depreciating by ten cents. At the end of the day, JKH per share value was Rs. 154,50.

Meanwhile, JKSB reporting on CSE trade said -

ASPI: 6,382.95 (+2.04 pts; +0.03%); Val T/O: Rs. 986mn (US$6.43mn); Vol T/O: 24.3mn; Trades: 2,567

Advance/decline ratio: 99/61; Top gainer: SEMB.X (+50.00%) ; Top loser: RCH.N (-13.33%)


• The ASPI ended marginally higher amid moderate turnover levels. JKH, HPWR, and LLUB led market activity with a crossing also seen in LDEV. Trading in JKH accounted for 47% of total turnover.

• Diversified Holdings was the most actively traded sector (-0.08%)

• Healthcare was the best performing sector (+2.35%), supported by gains on ASIR (+4.94%)

• Oil Palms was the worst performing sector (-2.27%), dragged down by declines on BUKI (-4.74%)

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