New hope spurs CSE

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The hopes of a possible economic revival following the appointment of Ranil Wickremesinghe as Prime Minister led the Colombo Stock Exchange to continue its bullish run for the third consecutive session with a major leap on Friday (13) taking the benchmark index to a 5-week high.

Following Wickremesinghe’s appointment four members of Parliament were given Cabinet Portfolios and another 14 are expected to be appointed this week.

The benchmark All Share Price Index, which started the day at 7,754.62 points on Friday (13) gained 4.43 per cent (343.79 points) to close the day at 8,098.41 points, its highest since 8 April.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,536.64 points, gained 5.22 per cent (132.42 points) to close at 2,662.31 points.

The Colombo Stock Exchange saw a daily turnover of Rs 2.1 billion on Friday (13) higher than Rs 1.19 billion recorded the previous day.

The Colombo Bourse witnessed a foreign outflow worth Rs 10 million on Friday (13) as foreigners sold shares worth Rs 55 million as against purchases of Rs 45 million. 

More than 117.46 million shares changed hands on Friday (13) during 25,336 trades that took place.

Shares of 250 companies were traded during the day of which 150 emerged as winners comfortably ahead of 30 losers.

Expolanka Holdings, LOLC Holsings, Aitken Spence, Sampath Bank and Commercial Bank pushed the benchmark index up despite attempts by Senkadagala Finance, Cargills Ceylon, Dockyard, Renuka Hotels and Colombo Land & Development Company to drag it down.

The top winners during the day were: Tess Agro (non-voting), Bogala Graphite, Softlogic Capital, Softlogic Finance, Harischandra Flour Mills, Softlogic Life, Dolphine Hotels, EB Creasy, Hapugastenne Plantations and Beruwela Resorts.

Top losers were: Senkadagala Finance, Renuka Hotels, Ramboda Falls, Colombo Land, Fortress Resorts, Dockyard, Singer Finance, Hayleys Leisure, HNB Finance and Cargills Ceylon.

By Mario Andree