Bearish run ends at CSE


The seven-day bearish run came to an end at the Colombo Stock Exchange on Thursday (2) as the benchmark index posted gains, for the first time since 23 May, on a relatively modest turnover with continued foreign entry into the Bourse.

The benchmark All Share Price Index, which started the day at 8,064.69 points on Thursday (2), gained 0.43 per cent (34.82 points) to close the day at 8,099.51 points.

The S&P SL20, representing the top 20 companies traded on Colombo Bourse, which started at 2,655.38 points, gained 0.62 per cent (16.34 points) to close at 2,671.72 points.

The Colombo Stock Exchange saw a daily turnover of Rs 1.44 billion on Thursday (2) higher than Rs 1.2 billion recorded the previous day.

The Colombo Bourse witnessed a foreign inflow worth Rs 186 million on Thursday (2) as foreigners purchased shares worth Rs 390 million as against sales of Rs 204 million. 

More than 69.7 million shares changed hands on Thursday (2) during 12,607 trades that took place.

Shares of more than 240 companies were traded during the day of which 87 emerged as winners ahead of 84 losers.

John Keells Holdings, Expolanka Holdings, Teejay Lanka, Richard Pieris & Company and Lanka OIC pushed the index up despite attempts by Melstacorp, Bukith Darah, Villible One, Browns Investments and Royal Ceramic Lanka to pull it down.

The top ten winners during the day were: Ramboda Falls, Industrial Asphalt, Udapussellawa Plantations, York Arcade, Muller & Phipps, Richard Pieris Exports, Lighthouse Hotels, Maskeliya Plantations, Jetwing Symphony and Singhe Hospitals.

The losers were: CM Holdings, Orient Finance, Serendib Hotels (non-voting), Blue Diamonds, Kapruka, Colombo Land, Chemanex, Durdans (non-voting), Selinsing and Lanka Ceramic.

Luminex Limited IPO Oversubscribed

The Initial Public Offering (IPO) of Luminex Limited, through an offer for subscription of 31,250,000 shares at a price of Rs 8 per share to raise Rs 250 million was fully subscribed on Thursday (02).

By Mario Andree