Energy sector stocks pack power into share market

Energy sector stocks were active at the CSE yesterday as two major companies, namely Vidul Lanka and WindForce, emerged the lowest/ qualified bidders for government tenders for building 15 Mega Volts renewable energy projects.

These developments, coupled with favourable geopolitical and economic conditions, elevated the market to positive territory.

Amid those developments both indices moved upwards. The All Share Price Index went up by 99 points while S and P SL20 rose by 10.25 points.

Turnover stood at Rs 5.3 billion with eight crossings. Those crossings were reported in Sampath Bank where 871,000 shares crossed to the tune of Rs 127 million; its shares traded at Rs 147, JKH four million shares crossed to the tune of Rs 93 million; its shares traded at Rs 20, WindForce one million shares crossed to the tune of Rs 54 million; its shares traded at Rs 54, Ceylon Land and Equity three million shares crossed to the tune of Rs 46 million; its shares sold at Rs 12.50.

Pan Asia Bank 500,000 shares crossed for Rs 32 million; its shares traded at Rs 64.50, DFCC Bank 187,000 shares crossed for Rs 30 million; its shares traded at Rs 161, Lanka Realty Investments 738,000 shares crossed to the tune of Rs 25 million; its shares traded at Rs 34.30 and HNB (Non-Voting) 64000 shares crossed for Rs 20 million; its shares traded at Rs 312.

In the retail market top seven companies that mainly contributed to the turnover were; WindForce Rs 407 million (seven million shares traded), Colombo Dockyards Rs 286 million (937,000 shares traded), Laugfs Gas Rs 247 million (three million shares traded), Sierra Cables Rs 235 million (seven million shares traded), Lanka Realty Rs 213 million (five million shares traded), JKH Rs 165 million (seven million shares traded) and Vidul Lanka Rs 148 million (five million shares traded). During the day 174 million share volumes changed hands in 40000 transactions.

It is said that the banking sector performed well, especially Sampath Bank. On top of that renewable energy sector companies, especially WindForce, led the market. Further, manufacturing and other services sectors also performed well, market analysts said.

By Hiran H Senewiratne

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