Positive corporate earnings driving CSE’s bull-run; ASPI hits 23,000 points

The CSE kicked off on a bullish note yesterday because the All Share Price Index topped the 23000 points level mainly due to positive corporate earnings amid conducive macroeconomic conditions in the county.

The All Share Price Index went up by 158.99 points while the S and P SL20 rose by 57.10 points.

Turnover stood at Rs 6 billion with ten crossings. Top seven crossings were reported in Laugfs Gas where 3.95 million shares crossed for Rs 276.7 million; its shares traded at Rs 67.50, Hemas Holdings 4.9 million shares crossed for Rs 172 million; its shares traded at Rs 31, JKH 7.75 million shares crossed for Rs 168.5 million; its shares traded at Rs 20.90, NTB 450,000 shares crossed for Rs 135 million; its shares sold at Rs 300, People’s Leasing and Finance 2 million shares crossed for Rs 58 million; its shares traded at Rs 29, Commercial Bank 200,000 shares crossed for Rs 41.6 million; its shares sold at Rs 208 and HNB 90000 shares crossed for Rs 35.8 million; its shares fetched Rs 396.

In the retail market top seven companies that mainly contributed to the turnover were; Colombo Dockyard Rs 451.3 million (one million shares traded), Laugfs Gas 304 million (4.5 million shares traded), JKH Rs 260 million (11.97 million shares traded), Sierra Cables 231 million (7.6 million shares traded), Sunshine Holdings Rs 231 million (5.6 million shares traded), NDB Rs 203 million (1.4 million shares traded) and Digital Mobility Solutions Rs 196 million (1.2 million shares traded). During the day 187 million share volumes changed hands in 43220 transactions.

It is said that the banking and finance sector performed well, especially NTB, while the manufacturing sector also performed well, especially JKH, Hemas and several other companies. IT sector also performed well.

Yesterday the rupee was trading weaker at Rs 304.80/305.00 to the US dollar in the spot market from 304.55/80 on Tuesday, dealers said, while bond yields dropped by about 3-4 basis points.

By Hiran H Senewiratne

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