Banking stock powers CSE, indices gain further


Interest in banking stock drove the Colombo bourse yesterday to post a turnover of Rs.672.4 million, up from the previous day’s Rs.539.7 million, with both indices up – the All Share by 29.01 points (0.51%) and S&P SL20 up by 13.72 points (0.42%) with 156 gainers comfortably ahead of 53 losers while 45 counters closed flat.

Foreign purchases amounted to Rs. 219.42 million, leading to a net foreign inflow of Rs. 99.68 million.

"The ASPI ended higher amid subdued activity levels, with trades on HNB, EAST, and COMB accounting for over 40% of market turnover inclusive of block trades. The market also saw crossings on PCH and CFIN," John Keells Stockbrokers said.

Block trades were posted by HNB (voting), East West, Central Finance and PC House with crossings contributing a business volume of Rs.224.9 million.

Brokers said that all these deals were done in single parcels with 0.5 million HNB crossed, 6 million East West (4% of the company), 0.1 million Central Finance and 9.9 million PC House crossed at previous price levels.

Commercial Bank (voting) generated the most business on the floor closing flat at Rs.114 on 0.6 million shares done between Rs.113.50 and Rs.114.40 contributing Rs.64.5 million to turnover.

Asian Hotels followed closing one rupee up at Rs.70 on nearly 0.6 million shares traded between Rs.69.20 and Rs.71.50 contributing Rs.38.5 million to turnover.

HNB closed Rs.4.60 up at Rs.167 on the floor on 0.2 million shares while NDB closed Rs.2 up at Rs.162.50 on over 0.1 million shares, DFCC was up Rs.6 at Rs.130.90 on over 0.1 million shares and Sampath Rs.1.20 down at Rs.231.on 43,754 shares.

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