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Stepped-up foreign inflows at CSE

Colombo Stock Exchange (CSE) transactions ended yesterday with a slight improvement in foreign and institutional activities in the market. Foreign inflows helped to curb losses of many companies..


Analysts said investors are waiting to see the real impact of the floods and landslides caused by the worst torrential rains in 14 years, killing over 200 people and devastating crops. But the turnover yesterday reached Rs..534 million, the previous day being a holiday..


The Colombo stock indices went up, ie, the All Share Price Index by 4.9 points and S and P SL20 by 13 points, with  four major crossings.


Those crossings were; Tokyo Cement crossed one million shares to the tune of Rs. 58 million and per share value reached Rs. 58/,  Sampath Bank’s  82,000 shares crossed for Rs. 24.3 million and cost per share was Rs. 297, Dialog’s  two million shares crossed for Rs. 23.90 million and per share value reached Rs11.90 cents and Tokyo Cement  (Voting ) 315,000 shares crossed for Rs. 20.1 million and per share value was Rs. 64.


The companies that contributed mainly to the day’s turnover were; Ceylon Cold Stores  Rs. 101 million (119,000 shares), Tokyo Cement (Non Voting) Rs. 53.1 million (916,000 shares traded) and Commercial Bank (Non-Voting) Rs. 33.5 million (313,000 shares traded).


Inflation could rise in the short term, especially due to crop damage and difficulties in distributing fresh food produce and staple food items, analysts said. Further, during the day 16.8 million share volumes changed hands in 3638 transactions.


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