By Hiran H. Senewiratne
CSE trading activity started on a high note with little volatility in the market and concluded on the same high note with the purchase of interest in shares of Expolanka Holdings yesterday. allowed the CSE to gain momentum yesterday. The G7 nations said in a statement they were committed to finding long-term solutions to the Indian Ocean nation’s economic problems and urged it to ‘negotiate constructively’ with the International Monetary Fund on a potential loan program.
“The G7 stands ready to support the Paris Club’s efforts, in accordance with its principles, to address Sri Lanka’s need for debt treatment,” the group of wealthy creditor nations said.
Amid these developments, both indices rose. The All-Share Price Index rose 91.7 points or 1.1% and the S&P SL20 rose 96.94 points or 3.4% during the day. The turnover amounted to Rs 1.98 billion with four crossings. These crosses were reported in HNB, which crossed 1.5 million shares at Rs 120 million, its shares were trading at Rs 80.50, Dialog 4.4 million shares crossed at Rs 42, 7 million, its shares were trading at Rs 9.60, JKH, 367,000 shares crossed for Rs 49.5 million its shares reached Rs 135 and Aitken Spence 397,000 shares crossed for Rs 30.6 million, its shares were trading at Rs 77.
In the retail market, the top seven companies that primarily contributed to revenue were; Expolanka Holdings Rs 900 million (4.2 million shares traded), Browns Investments Rs 133 million (16 million shares traded), LOLC Finance Rs 115 million (12.3 million shares traded), Softlogic Life Rs 83 .8 million (1.2 million shares traded), Hayleys Rs 59.5 million (817,000 shares traded), Softlogic Capital Rs 42.6 million (5.2 million shares traded) and LOLC Holdings Rs 27, 6 million (68,000 shares traded). During the day, 65.1 million share volumes changed hands in 14,529 transactions. for the market to rise is the appreciation of the shares of Expolanka Holdings. Its share price rose by Rs 16.25 or eight percent. Its shares rose from Rs 203.24 to Rs 219.50. Commercial banks yesterday quoted Rs 364 per dollar against telegraphic transfers, while the Central Bank set a daily guide rate for spot interbank trade at RS359.47 plus or minus 2.50.