by Hiran H. Senewiratne
Yesterday, CSE trading activity was initially negative, due to profit taking at Expolanka Holdings and LOLC Group counters. However, the market later turned positive due to buying interest in heavy index counters, stock market analysts said.
A landmark deal was announced at Ceylon Investments PLC, where they highlighted a share purchase agreement of 993,000 shares at Rs 102.70 per share. Under this arrangement, shareholders who have 102 shares are entitled to purchase a new share.
Amid these developments, both indices rose. The price index for all shares rose by 72.08 points, and the S and P SL 20 index rose by 45.7 points. The turnover amounted to 4.8 billion rupees with 4 crossings. These crossings were reported in Nestlé Lanka, which exceeded 141,000 shares to a value of 172 million rupees, and its shares were traded at 1221 rupees, and Royal Ceramics shares were traded 1.2 million shares against 91.9 million shares, and its shares were traded at 76 rupees, and Access Engineering shares worth one million shares. For INR 32.5 million, its shares were trading at Rs 32.50 and Hayleys shares crossed 159,000 for 20.4 million, and their shares were trading at Rs 100.30 each.
In the retail market, the top 5 companies that mainly contributed to the turnover were: Hayleys 751 million rupees (5.6 million shares traded), Expolanka Holdings 748 million rupees (1.9 million shares traded), Browns Investments 539 million (38.5 million shares traded). traded), Access Engineering Rs 189 million (5.4 million shares traded) and LOLC Holdings Rs 154 million (138,000 shares traded).
314 million shares were traded during the day in 35,000 trades.
Yesterday the US dollar was trading at 201.57 rupees, the rate controlled by the central bank. Observers have repeated this artificial suppression of the rupee will have a negative impact on the economy.