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CSE highs and lows

22 Jan 2022

By Imesh Ranasinghe  Despite a jump at the Colombo Stock Exchange (CSE) following a long weekend, the market took a fall last Thursday (20) after a policy rate announcement by the Central Bank of Sri Lanka (CBSL). The All Share Price Index (ASPI) passed an all time high of 13,457 last Tuesday (18) following the $ 500 million International Sovereign Bond (ISB) payment, with Expolanka and Vallibel One PLC being the major contributors to the index with 42 and 24 points respectively. “Bourse sustained its bullish momentum throughout the sessions with gains on tiles, finance sector counters, and EXPO; profit-takings were noted in LOLC group counters.Turnover remained healthy amidst the worries over the economy. India’s financial assistance had convinced the investors,” Asha Securities said regarding Tuesday. The day’s turnover was recorded as Rs. 7.11 billion, which was up by 0.6% from the previously recorded Rs. 7.07 billion. Foreign investors turned net buyers for the day. Aggregated foreign purchases for the day totaled up to Rs. 198.12 million, while foreign sales stood at Rs. 183.56 million. Softlogic Capital PLC traded the highest number of shares with 33 million shares traded with a turnover of Rs. 454 million. On the same day, Sunshine Holdings PLC informed that the public holding percentage of the company’s ordinary voting shares as of 31 December 2021 was 35.7%, a deviation of more than 2% from the public holding percentage of the company’s ordinary voting shares as of 30 September 2021 (31.52%). This was the most recently disclosed public holding percentage of the company to the CSE. The ASPI again settled at an all time high of 13,462 last Wednesday (19), as Commercial Leasing gained 12 points and Expo and LOLC gained 21 and five points respectively during the day. “Bourse settled with marginal gains and healthy turnover after a profit-taking in index heavy counters during the mid session. Worries over the possible fuel and power supply interruptions had increased the worries of the investors,” Asha Securities, on Wednesday, said. The day’s turnover was Rs. 5.57 billion, an amount down by 21.7% from the previous day as foreign investors turned net sellers. SMB Leasing PLC traded 37 million shares for the day with the highest share trades and a turnover of Rs. 22 million. Vallibel One PLC had the highest turnover for the day with a turnover of Rs. 397 million. Net foreign outflow for the day was Rs. 117 million; YTD net foreign outflow stood at Rs. 2.16 billion. It was announced that ICRA Lanka Ltd. had upgraded the issuer ratings of ACL Cables PLC to [SL] AA- from a stable outlook of [SL] A+. The ASPI dropped by 100 points as it settled at 13,361 at the end of last Thursday (20). 

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