By Imesh Ranasinghe
The Colombo Stock Exchange (CSE) passed a record market capitalisation of Rs. 5 trillion last Tuesday (30 November) while Expolanka Holdings PLC became the second listed company to achieve Rs. 500 billion market capitalisation last Monday (29 November).
The All Share Price Index (ASPI) closed at 11,202 recording all time high on Monday as Expolanka achieved a market capitalisation of Rs. 500 billion when it closed the day at Rs. 263.5, which represents market capitalisation of Rs. 515.1 million and an 8700% gain compared to its share price in January 2020.
Expolanka was the second most traded company in the exchange on Monday, with over 4,715 trades made at a volume of 7 million shares, behind only Ex-pack Corrugated Cartons Ltd., and closed the day at Rs. 263.5, up 6.6% (Rs. 16.25) from the previous day’s close of Rs. 247.25.
“The Index peaked at an all-time high of 11,318 while gaining 121 points as soon as the market opened. Subsequently, index dropped down drastically to an intraday low of 11,150 within the 15 minutes of the session. Following a volatile trading session, the index closed for the day at 11,202, gaining four points,” First Capital said regarding Monday’s performance.
Dialog Axiata PLC notched the “Top Net Purchaser” slot of the day, with an inflow of Rs. 16 million while John Keells Holdings PLC notched the “Top Net Sellers” slot with an outflow of Rs 20.19 million.
Tuesday, yet again the ASPI closed at an all time high of 11,440 with a gain of 238 points in the index. Expolanka (150) and LOLC (58) were the top contributors to the index on the day.
“Index opened on an optimistic note and set out on an upward trajectory throughout the session. However, a slight repulse was witnessed following the first half hour. Subsequently, investors gathered momentum and recouped shortly before closing for the day at 11,441, gaining 238 points,” First Capital said on Tuesday.
On the same day Odel PLC announced that its fully owned subsidiary Softlogic Brands (Pvt.) Ltd. (SBL) had entered into an operating lease agreement with the Kandy Municipal Council on 1 October 2021 via which SBL has been granted the rights to lease, operate, and manage the Mahanuwara Commercial Centre premises consisting approximately 164,000 square feet which will be be known as the Kandy Odel Mall for a period of 15 years with the option to renew further five years subjected to the terms and conditions of the agreement.
Standard Capital PLC whose shares were suspended due to non-commission of annual reports from 31 March said that it will take necessary actions to publish its annual reports for financial year 2020 by 15 December 2021.
Foreign sales on the day amounted to Rs 797.86 million while the purchases were at Rs 383.6 million.
On Wednesday (1) Sarvodaya Development Finance Limited announced that it had received applications for the subscription of 50.81 million shares for a total value of Rs 1.12 billion from 1,220 applicants for its IPO of 45.45 million to raise Rs 1 billion, oversubscribing by 1.12 times.
“The market opened with a bullish sentiment and displayed a positive momentum even past mid-session reaching an intraday high of 11,650. However, the market failed to hold the momentum as investors resorted to profit taking resulting in the index plummeting with massive volatility and closed for the day at 11,410 losing 31 points,” First Capital said.
CSE Highs and Lows
05 Dec 2021
CSE Highs and Lows
05 Dec 2021
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