By Hiran H. Senewiratne
Yesterday, CSE’s levels of local and foreign investor participation were notable despite the raging COVID pandemic and associated challenges, especially the country’s current economic woes. Investor interest has driven the market to an all-time high, its gain in value reaching Rs. 1 trillion to date in 2021, according to market analysts.
The combined market value of listed companies has skyrocketed by Rs. 1 trillion so far this year, with CSE’s market cap rising to Rs. 3.97 trillion, up 34% since the start of the year. year (YTD). The CSE ended 2020 with a market cap of Rs. 2.96 trillion, stock market analysts told The Island Financial Review yesterday.
Despite everything, the stock market managed to set three records; That is, the highest retail turnover in history, the highest number of transactions and the stock price index crossing 9,000 (908.22 at the start of the session for the first time in history), analysts said. In the midst of these developments, both indices have increased. The All Share Price Index increased by 58.81 points and the S&P SL20 by 28.01 points. Turnover amounted to Rs. 16.5 billion with seven passages.
These crosses have been reported in Dipped Products, where 3.1 million share volumes changed hands at Rs. 202.1 million, its share price being Rs. 65, Hayleys 1.1 million cross shares for Rs. 129 million, its share price being Rs. 120, Ambeon Holdings 1.5 million cross shares for Rs. 73.5 million, its shares were trading at Rs. 49, Browns Investments crossed five million shares for 38.4 million rupees, its shares trading at Rs. 61.30, Colombo Land Development 1.1 million cross shares for Rs. 40 million, its shares trading at Rs. 8, Sanasa Development Bank 750,000 cross shares for Rs. 37.4 million and HNB (non-voting) 173,000 cross shares for Rs. 21.6 million, its shares amounting to Rs. 125.
In the retail market, the top five companies that mainly contributed to turnover were Expolanka Rs. 5.05 billion (32.8 million shares traded), Browns Investments Rs. 2.8 billion (325 million d shares traded), Hayleys PLC Rs. 1.5 billion (13.8 million shares traded), Dipped Products Rs. 1.4 billion (22.8 million shares traded) and LOLC Rs. 921 million (1 , 5 million shares traded).
Yesterday the market rallied to the Browns group entities and these were; Browns Investments, Brown and Company and LOLC. These companies have also seen new buying interest. The biggest contributors to the All Share Price Index were LOLC 64.2 points, Browns Investments 61.1 points and Hayleys 13, 8 points. The largest negative contribution to the All Share index was commercial leasing and financing, which contributed 62.9 negative points to the All Share Price index. During the day, 648.6 million share volumes changed hands in 78,000 trades.
It is said that high net worth and institutional investor ownership has been noted in Lion Brewery Ceylon, Hayleys and HNB (non-voting). Mixed interest was seen in LOLC Holdings, Dipped Products and Sanasa Development Bank, while interest from individuals was noted for Browns Investments, Lanka Orix Finance and Expolanka Holdings.