By Hiran H. Senewiratne
The CSE yesterday indicated a gradual pick up as investors are anticipating positive second quarter corporate earnings, coupled with healthy exports earnings.
Amid those developments both indices moved upwards. The All Share Price Index went up by 52.11 points while the S and P SL20 rose by 18.26 points. Turnover stood at Rs 849 million with two crossings.
Those crossings were: CIC Holdings two million shares crossed to the tune of Rs 49 million; its shares traded at Rs 22.50 and JKH 1.8 million shares crossed for Rs 32 million; its shares traded at Rs 17.80.
In the retail market companies that mainly contributed to the turnover were; CIC Holdings Rs 75 million (three million shares traded), Pan Asia Power Rs 54 million (5.4 million shares traded), Softlogic Life Rs 50 million (692,000 shares traded), Haycarb Rs 34 million (171,000 shares traded), Prime Lands Residencies Rs 32 million (one million shares traded), Sampath Bank Rs 31 million (226,000 shares traded) and Colombo Dockyard Rs 23 million (242,000 shares traded). During the day 34 million share volumes changed hands in 12813 transactions.
It is said that manufacturing sector counters especially CIC HOLDINGS and JKH performed significantly well. Further, insurance and banking sector counters impressed.
Meanwhile, JAT Holdings reported profit attributable to equity holders rose 38 percent to Rs 344.6 million for the September quarter, driven by strong top-line growth across key international and domestic markets.
A mandatory offer has been triggered for the remaining voting shares of Standard Capital after investor Abishek Sithampalam acquired a 70.54 percent controlling stake in the company.
LAUGFS Gas said it is in informal discussions with interested parties regarding potential commercial collaborations, investments, or the possible sale of part or all of its wholly owned subsidiary, LAUGFS Terminals Limited, which operates the 30,000-tonne LPG terminal at Hambantota port.
Yesterday the rupee was quoted flat at 332.25/35 to the US dollar in the spot market, while bond yields were broadly steady, dealers said.
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