By Imesh Ranasinghe
The Colombo Stock Exchange continues its record-breaking All Share Prices Index (ASPI) performance, passing 10,000 and creating all time highs last Tuesday (2) and Wednesday (3), with a daily turnover more than Rs. 4 billion, and daily share volume over Rs. 100 million.
The number of trades was the lowest last Monday (1) at 32,239. ACL Plastics was the highest gainer of the day, with a gain of 15%, while Commercial Leasing & Finance PLC (CLC) had the highest performance, contributing 44.4 points to the ASPI with a turnover of Rs. 161 million.
“Index peaked within the first minute of the session and managed to hold the position towards midday while hitting an intraday high of 10,236. Afterwards, the market failed to hold and scaled lower as the day progressed due to investors resorting to profit-taking in selected counters, closing at 10,132,” First Capital said regarding Monday’s performance.
On Tuesday, CSE recorded an intraday high of 10,322 before closing at 10,271.71 in ASPI with Commercial Leasing & Finance PLC (CLC) yet again contributing the highest (154.6) to the index.
The highest turnovers for the day were recorded by Expolanka PLC (Rs. 1 billion), Melstacorp PLC (Rs. 451 million), Commercial Leasing PLC (Rs. 396 million), and Browns Investment PLC (Rs. 215 million).
On the same day, net foreign sales were recorded as Rs. 541 million, and the highest net foreign sales (Rs. 380 million) was recorded by Melstacorp PLC.
CSE announced on Tuesday that trading of National Lanka Finance PLC will be suspended with effect from 12 November in terms of rule 7.10.7 of the CSE Listing Rules, unless the company rectifies the non-compliance on or before 11 November
On Wednesday, the CSE achieved another all time high of 10,518 in ASPI, while Commercial Leasing PLC had the market capitalisation of 9.8% for the day.
“The Index opened strong, and continued to upsurge throughout the session, reaching an intraday high of 10,518. However, as investors chose to book profits after the index surpassed the psychological barrier of 10,500, bulls managed to hold on to their position while closing at 10,412,” First Capital said regarding Wednesday.
Moreover, Ex-pack Corrugated Cartons Ltd. has received 6,238 applications for the subscription of 980.73 million shares for a value of Rs. 8.24 billion on Wednesday, oversubscribing the issue by 12 times.
Also, CSE said that 37,000 of the John Keells Holding PLC shares and 681,462 shares of Vidullanka PLC were listed during the month of October, consequent to the exercising of options under the employee share option scheme.
Meanwhile, last week, Ex-pack Corrugated Cartons Ltd.’s Rs. 700 million Initial Public Offering (IPO) witnessed 6,000-plus applicants seeking to subscribe, resulting in an elevenfold oversubscription, which, according to the company, is the highest subscribed IPO for 2021.
Ex-pack Corrugated Cartons offered 83,333,333 ordinary voting shares (a 25% stake) at a price of Rs. 8.40 per share through its IPO, resulting in a projected market capitalisation of Rs. 2.8 billion. This translates into an estimated forward PER of 7.7x for FY22 and implied TTM PER (as at August 2021) of 8.9x.
CSE Highs and Lows
07 Nov 2021
CSE Highs and Lows
07 Nov 2021
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